Citi makes way for Amazon's New York HQ2 by moving employees

Photo: AP

Photo: AP

New York: Citigroup gets out of the way of Amazon.

The bank relocates approximately 1,100 employees from the One Court Square office building in the Long Island City district of New York, while Inc. plans to occupy the space in the tower as part of one of its two new head offices.

Citigroup Inc. occupies 30 floors of the 42 office floors of the building, which they all rent out. Amazon wants to do 23 stories, according to a person with expertise. Citigroup is moving its employees to headquarters in Tribeca, Lower Manhattan or other nearby offices, said the New York-based lender on Tuesday in a statement.

"Given what it would mean for New York and Long Island City to have Amazon establish an important presence here, we want to do our bit to make this possible," said Chief Executive Officer of Citigroup, Michael Corbat in the statement.

Amazon announced Tuesday its official plans to split its second headquarters between Long Island City, in the Queens district of New York, and Arlington, Virginia, and ended months with speculation. The technical giant will also create more than 5,000 jobs in Nashville, Tennessee, in a new operation center.

Making room

Amazon would like to occupy 15 floors of One Court Square by the second quarter of next year and occupy eight additional floors by the beginning of 2020, as the e-commerce giant hires more New York-based employees, said the person with knowledge of the plans who did not ask to be identified because they are not public.

Citigroup has consolidated its head office staff at 388 Greenwich St., since it began renovating this building in 2015, one of the largest private sector renovations in New York City history. When the work is finished, the tower will house 12,000 employees, rising to 9,000.

For now, Citigroup holds approximately 1,900 employees in the building in Long Island City, where employees of the consumer, financial technology, risk & # 39; s, internal audit and finance group have seats. Citigroup has occupied most of One Court Square since the tower was opened in 1990. As the lender moved more employees to his head office, it subleased part of his space in the building, which is owned by the New York-based property investment company Savanna. .

Amazon has signed a letter of intent to lease approximately 93,000 square meters of space to the building, Savanna said in a Tuesday statement, in which One Court Square is "a critical component" of Amazon's Long Island City HQ2 plans.

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