BNY increased Pitt presence (Pittsburgh, York: employment, school, university)

[pman]

Steady hiring in Pittsburgh to fill a variety of jobs at what's now Bank of New York Mellon has pushed employment to 7,140 locally -- nearly 50 people more than its base in New York, as of Aug. 1.
"And we're going to 7,300 by the end of the year," ..The former Mellon Financial Corp. agreed to merge into The Bank of New York in December 2006, when Mellon employed about 6,070 locally

More BNY Mellon workers work here than in New York City - Pittsburgh Tribune-Review

[BrianTH]

You'd think they could pay a lot of their employees substantially less here.

[Renaldo5000]

That is the only thing keeping that company with a presence in the area - they can pay about 30% (or more) less here for an employee.

You know damn well that they don't care about the area or any economic impact their decisions might have here. They are only concerned with the bottom line. I am still awaiting the day when BNY eviscerates Mellon and closes down all operations here.

[BrianTH]

It could happen any time--I agree corporations are, by design, amoral in their pursuit of profit--but as long as the geographic arbitrage is working for them, why wouldn't they continue it?

Edit: Oh, and I take it as an encouraging sign they are repainting One Mellon in their new corporate colors. That's not the biggest expenditure one could imagine, but it is a long-term project/investment.

[pman]

it's certainly possible but it appears Pittsburgh is on the receiving end this time

Next summer, the company will consolidate similar operations in four other cities into Pittsburgh, creating almost 150 more new jobs.

[jay5835]

Pitt is the abbreviation for the University of Pittsburgh.

Pgh. is the abbreviation for the city's name.

I don't mean to go all "grammar nazi" or anything, but when I read "Pitt," I invariably expect to read about the school.

[Blackbeauty212]

Oh no here comes scott....he hates Grammar nazi's remember kenneyland