Swiss bank UBS A.G. plans to move a large portion of its workers out of one of its Manhattan offices in an attempt to cut down on real estate costs, according to reports.
UBS employees are expected to be moved either to another of the bank’s Manhattan offices or to its North American headquarters in Stamford, according to published reports. The bank has yet to announce how many – if any – employees would be relocated to Connecticut.
Last month UBS listed 382,00 square feet of its offices at 299 Park Ave. for sublease, beginning in mid-2014. The bank reportedly plans to keep five floors of its offices on site until 2018.
Laura Aubuchon, Stamford director of economic development, told the Hartford Courant the city hasn’t heard whether or not the company’s workforce in Connecticut will be growing. In 2011 the company agreed it would maintain a workforce above 2,000 people in Connecticut in a $20 million agreement with the state.
Since UBS announced last fall it would eliminate 10,000 employees worldwide, it’s U.S. workforce has shrunk by 802 people to 20,504 employees, according to reports.
