I heard from a colleague that the lease from our location is up at the end of the year (outside of Boston) and the assumption is that everyone will be moved to the Boston location. Any confirmation on that?
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Yes, the lease on the entire building ended and we vacated the 3rd floor. BNY signed a lease for the 2nd floor for 5 years and the 1st floor for 10 years. How many years ago did we vacate the 2nd floor? That tells you how long we have left on the 1st floor and yes they will move us to Boston. So everyone gets about 2% pay decrease essentially to pay for transportation costs.
@d7 You can be assured that the office renovations are being funded by generous tax credits which were negotiated by the EC (Alejandro and Brian R.) and local politicians. It's the same leverage that is played wherever they have presence and can threaten layoffs and closures. Somehow the crooked coterie always walks away with a deal that includes smaller footprints in major metro markets and renovated facilities.
@b5 all floors BNY leases at OBP are being completely renovated so in a few years everyone in the area will be moved there
A lot of work being done at OBP. You be the judge based on historic events.