Pitney Bowes 06484

Throughout the month of April, the postal system has been jammed with census forms from every zip code in the country as the federal government sizes up demographic shifts and hard population numbers since the last census in 2000.

A census of postal services within giant Pitney Bowes Inc. shows a significant local shift in the company”™s own demographics.
Long strongly associated with Stamford where it has a marquee headquarters address, Pitney Bowes Inc. today has more employees in Shelton where its research operations are located.

The fact that Pitney Bowes employment in Shelton has eclipsed that of Stamford shows the former city”™s remarkable draw, according to Bill Purcell, president of the Greater Valley Chamber of Commerce whose territory includes Shelton.

Pitney Bowes spokesman Matt Broder confirmed the company has 1,000 employees in Shelton today, versus 800 in Stamford and 400 in Danbury. In addition to research, the Shelton office is the site of sales and financial specialists.

Some 150 people work at a Newtown location that builds mail meters, and another 650 are scattered throughout other parts of Connecticut.

In 2009, Pitney Bowes cut its U.S. headcount by 1,860 workers, giving it nearly 23,500 in the United States and just above 9,500 abroad. The company recently initiated another restructuring, which is expected to reduce its job count 10 percent by the year 2013, with the goal of saving at least $150 million annually.

In 2009, Pitney Bowes earned $423 million up slightly from 2008, as revenue fell 11 percent to under $5.6 billion, its lowest level since 2005. The company is slated to release its first quarter results May 3.

Having undertaken two restructuring actions in the past three years amid the recession and postal reform in the United States, CEO Murray Martin had $7.6 million in compensation, including the estimated value of stock and options that vest in later years, up from $6 million in 2008.

The Shelton research operations are being included in the latest restructuring, Broder said, without elaborating on what changes if any may occur in the facility”™s overall mission. The company also has a major research lab in Noida, India, which focuses on software development.

The restructuring, of course, has also impacted Pitney Bowes”™ headquarters in Stamford, a building designed by New York City-based Pei Cobb Freed & Partners Architects L.L.P. that features 300,000 square feet of office space; a 300-foot indoor “boulevard” suitable only for exhibits and gatherings; and a foyer nearly 100 feet high that is a drain on energy during cold and hot weather.

If a stunning sight for the eyes, the 1985 building was poorly designed for the functional and operational needs of businesses today, real estate brokers say. They add that after a recent, major renovation, Pitney Bowes would be more than happy to consider relocating to another location, but would have a difficult time finding a buyer for its current building.

Pitney Bowes is not the only company increasingly listing a Shelton zip code on outgoing mail. Across the street from Pitney Bowes, electrical components maker Hubbell Inc. plans to move into a massive new headquarters under construction, relocating from Orange where it is based. And Progress Drive will soon be the home of Lex Products Corp., which is relocating its main operations from Shippan Ave. in Stamford.