Posted Jan 6, 2021, 3:39 AM
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New Yorker for life
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Join Date: Jul 2001
Location: Borough of Jersey
Posts: 51,914
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https://www.bloomberg.com/news/artic...ns-to-stay-put
BlackRock Bucks New York Departure Trend With Plans to Stay Put
Firm still intends to move NYC workforce to Hudson Yards tower
Full-time remote work won’t be norm after pandemic, memo shows
By Annie Massa
January 5, 2021
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As a growing number of Wall Street firms plan to move New York employees to cheaper U.S. hubs and even let rainmakers work from faraway homes, BlackRock Inc. is planting its feet firmly in Manhattan.
Executives at the world’s largest asset manager have privately urged employees not to get too attached to doing their jobs remotely full-time, while it awaits a move to a new office tower in New York, where it’s based. With the pandemic surging across the U.S., the company extended the work-from-home period through this year’s first quarter. But that won’t be the new normal.
“The office will remain our primary work location longer-term,” senior executives including Chief Operating Officer Rob Goldstein wrote in one memo sent to staff in November. “Employees will have increased flexibility to work remotely part-time, but full-time remote work will be done very selectively and with approval.”
Returning to offices on a larger scale will take time, they wrote, and the company is working on making regular Covid-19 testing available to “as many people as practicable.”
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BlackRock still plans to move its New York staff into 50 Hudson Yards, a new skyscraper on Manhattan’s west side, in late 2022 or early 2023, a spokesman confirmed this week. The relocation, first announced in 2016, came with a lucrative incentive: BlackRock secured $25 million in state tax credits to create hundreds of new jobs and keep staff there.
BlackRock has about 16,600 employees in cities all over the world. It’s increasing its presence outside New York, including in Atlanta, where it plans to employ about 1,000 people by 2024.
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NEW YORK is Back!
“Office buildings are our factories – whether for tech, creative or traditional industries we must continue to grow our modern factories to create new jobs,” said United States Senator Chuck Schumer.
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It's because of all these wonderful photos here that I can at least see my fav city grow day by day! Can't wait to be immersed within all these new buildings amidst Hudson Yards!
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