Cush wrote:Runway28L wrote:”Bayer Shutting Down All Pittsburgh Operations, Nearly 600 Employees Affected”
https://pittsburgh.cbslocal.com/2019/01 ... ting-down/
You beat me to it! So, what do you all think this will do to the FRA flight?
Pittsburgh has really taken a beating lately with losing many large companies. First Heinz, now Bayer...
Disappointing news to say the least. But for some perspective, the article headline has been corrected to "Some Pittsburgh Operations" (instead of "All"). At the end of the article it states they will maintain 3 other local sites. Unfortunately these 600 jobs are of the corporate type who travel. Of significance, this does not appear to affect Covestro (spun off from Bayer a few years ago) who with their N. America HQ here has a larger corporate presence than Bayer and who I believe has a higher demand to FRA (CGN area to be precise). Also spun off from Bayer is Lanxess, who also maintains their N.A. HQ in Pittsburgh and their global HQ in CGN. Finally, Mylan - one of the earlier spinoffs from Bayer - has grown into a Fortune 500 company with its global operations centered in Pittsburgh (although they did an inversion for tax reasons and is now registered in the Netherlands). They are planning a 200,000 sq. ft. expansion of their Pgh headquarters. So all in all I don't think today's news will affect the Condor flight all too much.
As for Heinz, technically Kraft-Heinz is co-headquartered in Pittsburgh and Chicago. But you are right about Pittsburgh losing headquarters... but that is a decades long thing considering Pittsburgh was at one point the nation's third largest F500 headquarters city. The original Westinghouse, Rockwell International, Mellon Bank, Gulf Oil, etc all gone. On the plus side, in recent years Pittsburgh added Dicks Sporting Goods, Mylan Labs, and Alcoa to the F500 list and this year we will be up to 9, the highest in many years. BNY Mellon maintains more employees here now then they did before the merger.
So while today's news is a huge disappointment it is not all doom and gloom. A nice article from yesterday: https://www.fastcompany.com/90285175/ho ... the-future