Pitney Bowes has reportedly sold its international headquarters in the south end of Stamford.
More than 90 years after Pitney Bowes first formed in Stamford, the famous postage company may soon be leaving ‘the city that works,’ according to The Stamford Advocate.
In a letter sent to employees Wednesday, CEO Marc Lautenbach announced the company had sold its building and planned to temporarily relocate its 550 employees to company offices in Shelton and Danbury.
The move comes at a time when the company is faced with several restructuring initiatives in light of a difficult economy and dwindling postage revenues.
Lautenbach, who was appointed as CEO less than a year ago, has reportedly said search plans for a new headquarters will include Stamford but will not be limited to the city.
It was not disclosed who purchased the 442,000-square feet building, which is adjacent to the burgeoning Harbor Point development project. The development includes new residential buildings, offices and parkland on what used to partially be a Pitney Bowes manufacturing plant.
