Give Me Liberty Or Give Me PATH : 27 Manhattan-Based Fidelity Employees Refuse To Relocate To New Jersey, Quit

It may be the worst possible job market for financial professionals in years but sometimes one has to draw the line. Like when moving across the Hudson river from Manhattan's One World Financial Center building to Jersey City - that may well be the only logical time when one is allowed to say: "I don't care about my bloated bonus or underserved compensation to buy the same stock that everyone else is buying. I quit." Not surprisingly 27 Fidelity employees have done just that. As the following notice from our favorite back-door website on New York's financial labor market shennanigans, the DOL's WARN site informs us, 27 Fidelity analysts have opted to to quit nobly, than to accept "relocation packages" which would involve the Geneva convention banned torture of having to reverse-PATH commute every day to Fidelity's new Jersey City office at newport Office Center Three. Oh well, it can't be such a bad job market after all. Incidentally for any and all unemployed ZH readers in Jersey City, this probably means that there are about 27 openings at the Fidelity office thereabouts. Just give Ms Maria Kulsick a buzz at [phone].

From WARN:

Date of Notice:  1/25/2012 

Control Number: 2011-0242

Rapid Response Specialist: Linda Foehr

Reason Stated for Filing: Plant Closing        

Company:
Fidelity Investments
One World Financial Center, 200 Liberty Street
New York, NY  10281

County:  New York | WIB Name: NEW YORK CITY| Region: New York City

Contact:  Maria Kulsick, Vice President, Human Resources

Phone:  [phone]

Business Type:  Security Investment

Number Affected:  27- employees who have not accepted relocation packages

Total Employees:  -----     

Layoff Date:  12 employees will be terminated on 4/30/2012, 15 employees on 5/31/2012            

Closing Date:  5/31/2012

Reason for Dislocation:  Relocation of office to NJ location-expiration of lease at present location

ERNUM:  ----- 

Union:    -----

Classification:  Plant Closing

Comments

[Bicycle Repairman]

NYC employees are expensive and can job hop.  Better to have NJ suburbanites on the payroll.   Easier to control.

[Bicycle Repairman]

These people have a life in NYC and don't feel like giving up another hour every day in pointless commuting.  I expect they have found other jobs in NYC.  What's the BFD?

[Bicycle Repairman]

I checked out JC. It is a cesspool.

[trav7777]

you just don't like black people.

[Bicycle Repairman]

I'm off-white.

[GFORCE]

It's a very bad jobs market, which these 27 obviously take with a pinch of salt. How many will beg to go to NJ within a year?

[Clowns on Acid]

Best thing that ever came out of New Jersey was an empty bus.....

[cfosnock]

Nobody has even considered the fact that their jobs maybe going away. Its smarter to refuse the relocation and get something than to relocate and then get terminated 3 months later.

[frostfan]

I think Tyler is really swinging and missing on this article.  First, the layoffs are in two stages April 30 and May 31.  

Second, Tyler doesn't bother with any facts here except for a WARN notice.  He doesn't mention how many people are moving, he doesn't mention why these 27 chose not to go.  Instead, he makes up a theory that they're choosing not to move because the building is in New Jersey.

Third, maybe Tyler can explain how they are all "analysts"  since that's not in the notice either.  

Maybe they're going back to school or maybe they're retiring and saw a good layoff package.  Was the news that thin today Tyler?

[LFMayor]

Couldn't you just live out with the Pineys and commute to work?