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Cantor is packing some boxes.

Cantor Fitzgerald is moving jobs out of NYC

For anyone who missed it, Cantor Fitzgerald doesn't count among the finance employers buying into the notion that you don't make layoffs during a pandemic. Bloomberg reported back in May that Cantor was planning to make 'hundreds' of job cuts. Now it's becoming apparent that some of the layoffs are the result of moving jobs to lower cost sites.

In a post on the New York State WARN noticeboard earlier this month, Cantor Fitzgerald Securities' operations division said it's cutting 76 jobs in New York City as the company moves to an 'out of state location.' It's not clear where the jobs are moving to, but Cantor already has multiple U.S. offices to choose from, including in Alabama, North Carolina and Utah.

Cantor didn't comment on its NYC layoffs, which are understood to be among those reported in April and May. The WARN notice says they will not happen immediately, but are scheduled for between September and December 2020. 

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Photo by Luke Stackpoole on Unsplash

 

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AUTHORSarah Butcher Global Editor
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  • pb
    pbug56
    24 June 2020

    It is truly disgusting that this company that got so much support post 9/11 is continuing to abandon New York City and its workers. It's also hurting itself - NYC is still the center of where the talent is, but as more firms do this, this talent will not just scatter but eventually fade away. Companies like Cantor got to where they were because the talent was here. But hey, corporate greed comes first.

  • To
    Tony D
    19 June 2020

    Can't blame them.. it gets worse here by the day, between the unrest & the buffoons in state & city government led by Cuomo & the idiot in city hall, the sky high taxes & deteriorating quality of life in this city, no wonder they're leaving. And many of us baby boomers will be heading out once we retire.. this city is done...

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