It's fairly self-evident that you can't have hundreds of employees in New York City when you're moving your head office to Nashville, Tennessee, so it shouldn't be a great surprise that Alliance Bernstein's move to Nashville is being accompanied by successive rounds of layoffs.
The latest, which will hit 50 people was flagged this week on New York State's Worker Adjustment and Retraining Notification (WARN) system. Alliance Bernstein will make the 50 redundant on 30 April, according to the notice. That should give them plenty of time to find something else.
This isn't the first round of redundancies following the relocation of Alliance Bernstein's headquarters to Nashville. Previous WARN notices show that 51 people were let go on 31 December 2019. Six were let go in October 2019, 24 are being let go between September 2019 and February 2020 and there were additional rounds in April and February last year.
Alliance Bernstein first announced its intention of moving to Nashville from Manhattan to save money in 2018 and has said that it expects to bring 1,050 jobs to the city. The relocation is expected to end in 2022, suggesting that the steady drip of NYC layoffs will continue this year. Alliance Bernstein has 1,281 people left in New York according to its most recent WARN notice.
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