Altria’s move to Richmond
Altria Group, also known as Philip Morris Companies, plans to sell its headquarters New York office building. Altria has already declared that company plans to change its location and that New York building will be presented for sale.
As it was reported, Altria and Global Holdings Inc reached the agreement regarding the acquisition of the building. Even, companies haven’t presented any public confirmation. However, it is known that Global Holdings Inc. ought to pay $525 million for New York building.
Speaking from strategically point of view, this purchase offers big opportunities for Global Holdings Inc., as New York is an important financial, cultural, transportation, and manufacturing center.
Altria plans to close the transaction before April 1, 2008, as in early 2008, Altria will focus all its power in Richmond, Va because there the company plans to establish its headquarters.
But, as Paul Valery said every beginning is a consequence - every beginning ends some thing. The transformations that spread over the country bear up the Altria Group to introduce many changes in its policy and actions.
Speaking about “every beginning ends some thing”, here the things are far from being qualified as tolerable. About 400 of the 500 employees that work in the corporate headquarters in New York will lose their jobs as part of the relocation.
