Simply entanglements for sale?
https://www.bizjournals.com/triangle/news/2024/09/30/sas-cary-campus-office-space-buildings-sublease.html
65 replies (most recent on top)
“whoever keeps making lame jokes about the art department, please get a new line. it's tiresome and has been for a while”
Seeing a non essential department such as the Art Department being unaffected by layoffs is not a joke. It is a sad reality and is also very telling.
They aren't jokes, they're "experiences".
“whoever keeps making lame jokes about the art department, please get a new line. it's tiresome and has been for a while”
Thanks from the Art Department!
“SAS would be pushing out its top talent, who are the only ones capable of leaving in this current job market.”
Excellent point!
SAS has been losing top talent for years. Many of the senior employees laid off or bought out were top talent.
And layoffs and buyouts, even when they don’t directly affect top talent, incentivize them to leave. Any change creates that incentive.
And SAS knows that.
The originator painted himself into a corner I guess...
"Return-To-Office mandates, like Amazon's, cause attrition == soft layoffs. In future, SAS may need more attrition, to ensure profitability."
soft layoffs of whom, exactly? The only people capable of leaving SAS in this atrocious tech job market are the top 5-10% of employees, many of whom have already left for competitors like DB or FAANG for huge raises, RSU packages and career advancement, which is completely stagnant at SAS.
So force employees back into the office and expedite the brain drain??????
Those "soft layoffs" would not be a random assortment of employees, nor would they be uniformly distributed by talent. SAS would be pushing out its top talent, who are the only ones capable of leaving in this current job market.
But hey, at this point, what's one more bad decision?
"Who says they’re jokes?"
The only joke about the art department is that they seem immune to layoffs?
Someone please explain the necessity of the art department besides their product being more pleasing than Viya.
I've always assumed that the person making the comments about the Art Department tried to get a job there and they turned him down because his portofolio was in crayon.
Who says they’re jokes?
whoever keeps making lame jokes about the art department, please get a new line. it's tiresome and has been for a while.
"Really old meaning 60 and up."
VRBP! I'll gladly take it and leave.
Really old meaning 60 and up.
To add...
The interns from the Art Department, which is safe, will sign on to ensure that the aesthetics and experience of the app live up to standards. They'll produce a video for how to use it, featuring a senior manager holding their phone, gazing directly into the eyes of a much younger direct report while making "shaker weight" motions with it. "You check stock levels like this..." they'll whisper in a sultry voice...
"Really old people who do little or nothing but hang around hoping to not be noticed - watch out."
Ummmm .. define "really old" please. Asking for a friend.
Disappointing but not shocking news.
Office building are relics of the past. Ironically, so is SAS software. It is so sad to see former greatness molding.
People are being retired by SAS right now, the company just isn't telling anyone. If you're a director with no direct reports look out. Managers known to be a problem - look out. Really old people who do little or nothing but hang around hoping to not be noticed - watch out. As less people work for the company it's harder to stay hidden.
This is the time of year the ranks are culled. Not enough and long overdue but it does happen yearly now b4 open enrollment.
And no i'm not mentioning any names. Some are well known and some aren't. Many will drop off the rolls at the end of december. interesting times.
If the buildings are listed for sublease for several months or a year and no one is renting then it's wise to take off the listing for a while before trying to list them again so it does not look bad that it's been out there for many months/year and not being rented.
It's similar to house listings on real estate sites. Pull them off for a while and relist later to start the clock at 0 again for days/months previously sitting out unsold.
Return-To-Office mandates, like Amazon's, cause attrition == soft layoffs. In future, SAS may need more attrition, to ensure profitability.
So this is an option they're probably not sorry to have. But the immediate reason for the change is probably just the glut of office space on the market.
Back to office mandate = soft layoff?
It's probably not a great look to have buildings available to lease, but nobody wants to lease them. Might just as well take them "off the market" since no demand.
Soft layoff incoming.
TRIANGLE BUSINESS JOURNAL
SAS no longer wants to sublease its Cary office buildings
By Lauren Ohnesorge – Senior Staff Writer, Triangle Business Journal – Sep 30, 2024
A year after putting buildings up for sublease at its Cary campus for the first time, SAS is taking them back.
Last year, SAS put two 1980s-era buildings up for sublease at its campus off Harrison Avenue at Interstate 40. The move was due to the company's shift to remote work, a spokeswoman said at the time.
Now, the company confirms the plan has changed and that the two buildings are no longer up for sublease. The buildings are Building H, built in 1984 with 66,844 square feet of space, and Building J, built in 1986 with 97,541 square feet of space.
SAS declined to comment on why it made the decision or if the company plans to relocate employees back into the buildings. But the region has seen available sublease space pile up in recent years as companies scale back office needs due to hybrid and remote work.
The Triangle's Class A office vacancy rate increased to 17 percent in the second quarter — up from 15.6 percent the quarter prior.
Some large employers in the region have pulled workers back to the office in recent months.
SAS, a $3 billion analytics company, moved to its campus in Cary in 1980 and has since grown to become one of the Triangle's largest employers with more than 6,000 in the region, according to TBJ research.
The company, led by founding CEO Jim Goodnight, is in the midst of a plan to prepare for a public offering, though executives have said it’s unlikely to happen this year.
“We continue to get there,” CTO Bryan Harris said in April. “We believe we’re still probably 12 months out before we’re really in a readiness state for it, but we’re looking to get there.”
SAS has long been known for its analytics. The company recently made what Harris described as a “very intentional and very focused” play in artificial intelligence.
I heard they are expanding the art department, but it will still be under “company man”.
Interesting! Didn't they just get done compressing people into fewer buildings? Maybe they are just gonna knock em down now.
No, I have the inside track on this.
Management closely follows this forum for new ideas. They are starting a new division under “company man”. It will be staffed exclusively by retirees. The mission will be to “save sas”. The first assignment is will be to develop (in sas) an internal only web app to track break room snack levels in real time.