Financial Giants Are Moving Jobs Off Wall Street

CNBC/NYT ^ | 7/2/12 | Nelson D. Schwartz

[KingOfVagabonds]

Low-level jobs have already migrated to call centers and back offices overseas, while top-end traders and bankers are secure in the New York area, experts say. Instead, services like accounting, trading and legal support, and human resources and compliance are being shifted to places like Salt Lake City, North Carolina and Jacksonville, Fla.

[KingOfVagabonds]

More libs heading to a city near you, and the NY tax bases continues to shrink.

[wayoverontheright]

Low-level jobs have already migrated to call centers and back offices overseas, while top-end traders and bankers are secure in the New York area, experts say. Instead, services like accounting, trading and legal support, and human resources and compliance are being shifted to places like Salt Lake City, North Carolina and Jacksonville, Fla.

These are the downstream consequences that liberals never contemplate in anything that they do. It is truly fitting, and can be laid at the feet of Bloomberg, and liberal governance.

It is my contention that they're leaving because they didn't feel welcome. The Occupy Wall Street crowd was allowed to thoroughly malign them, and even their homes were marched on.

Just desserts for the powers that be in NY.

[Buckeye McFrog]

The cost of employing ANYBODY in New York City is so incredibly friggin’ high, one wonders why this did not happen years ago.

[Lonesome in Massachussets]

With modern communications, the need for a lot of support staff in lower Manhattan goes away, with the astronomical costs of lower Manhattan, the economic utility disappears as well.

I attend at least half of all my meetings with people in my own company over the phone, sometimes in buildings in the same campus. Having everybody in a hundred story building in lower Manhattan no longer makes sense. If you’ve never commuted in New York, you have no idea what a hassle it is.