Bank of New York Mellon is cutting 1,500 jobs world-wide to reduce costs. While the company is generating excellent revenue, expenses are up 20 percent over this time last year. A hiring freeze is being implemented as well as a cut back on temps and contract workers.
BNY Mellon is a LARGE employer in the Pittsburgh region. There are about 7,700 BNY Mellon employees, mostly in downtown Pittsburgh. BNY Mellon has targeted Pittsburgh as a low-cost global growth center! That means BNY Mellon will continue to move jobs to the Pittsburgh region. This is excellent news for Pittsburgh and Pennsylvania!
The Fishwrap is reporting that an effort is finally being made to become more business friendly and welcoming to investors in our central business district. I say, “Here, here!” It’s about time.
Driving down High Street should be an exciting experience, however, it is the opposite as of late. Removing rules and procedures, that needlessly delay construction, is a good thing. If we would work really hard at filling up all those empty retail spaces downtown, it would go a LONG WAY toward helping the tax base, drawing people downtown to spend money on goods and services and creating employment! In the past we have worried about looks (and trees), at any cost, and you see the result. Crickets!
Two Roy’s Rants thumbs up to Jason Bobst and Councilor Chomnuk for cutting through the Hyltonesque gobbledygook and trying to foster a climate that says “Pottstown is open for business”.