IBM To Downsize Rochester Campus
After trimming headcounts through a number of layoffs in recent years, IBM signaled on Wednesday that it would be downsizing its square footage in Rochester.
The tech company from Armonk, New York will be selling off upwards of one million square-feet of its Rochester campus. However, no personnel changes are expected to occur, according to a statement by Tory Johnson, the senior location executive for IBM’s Rochester site.
“We plan to sell our excess Rochester real estate holdings to an outside developer and bring all IBMers together over the next year into eight buildings on the east side of the campus,” Johnson added.
The Rochester Post-Bulletin notes IBM’s downsizing efforts are in pursuit of improving collaboration and innovation at its site.
The move should be completed by March of 2017.
IBM established its 397-acre Rochester campus in 1956. At its height, as many as 8,000 workers were employed in Rochester, although that number has dropped to an average of 2,677, according to IBM’s 2014 filing to the Occupational Safety and Health Administration.
Reports indicate the total market value for IBM’s properties in Rochester is roughly $38 million. Much of the office space being put up for sale was not fully utilized or was already empty.
Last year, IBM started leasing its office space to Charter Communications, a Stamford, Connecticut-based cable telecommunications company. Gary Smith, president of the Rochester Area Economic Development Inc., will be working with IBM to sell the property.