State Street, which manages about $3.5 trillion, is closing both of its offices located near Rockefeller Center. The move will impact approximately 500 employees who previously worked there, a person familiar with the matter told CNN.
“To accommodate our hybrid workforce, we have taken a diligent look at our real estate footprint in NC and ensuring that our realty needs are in line with where our employees will be working,” State Street said in a statement.
State Street said that while the offices located at 1290 and 1040 Avenue of the Americas are going away, the financial giant is adding a shared workspace in Manhattan. And the company said employees will have access to other workspaces in New Jersey and Stamford, Connecticut.
“We are happy our NYC-area employees, including members of our global executive leadership team who call New York home, have welcomed and are embracing our hybrid working model,” State Street said in the statement.