IBM (NYSE:IBM) is closing its 1.1 million-square-foot office in Southbury, Connecticut.
The Hartford Business Journal reported the Armonk-headquartered company will shutter the space as of Jan. 26. A company spokesperson said no jobs will be lost, with the Southbury employees being provided with a chance to either relocate to the Armonk or Poughkeepsie offices or telecommute, depending on their duties.
The office was built for IBM in 1987 and was appraised at $70.8 million, according to the town assessor’s office. IBM added the closure is not due to any financial problems.
“IBM regularly assesses physical office spaces around the world so that our employees can do their best work in service to our clients,” the company said in an emailed statement. “As our business continues to evolve, changes to our global real estate footprint will support our company’s intentionally flexible work environment.”
