Saturday, January 24, 2015

BB&T Lays Off 1,440 Workers

Today the headline is layoffs. No, not all of them are in Greensboro but how about a reality check. From the article:

"The bank said in October 2012 that it would create 1,700 jobs over five years at the center, where it has a seven-year sublease. The goal is having up to 2,500 employees there. The latest center workforce count from BB&T was 800 in April."

And the lease on the building runs out in less than 5 years-- do the math. No commitment to stay here. Mayor Vaughan's inherited economic development strategy of depending on large corporations with no commitment to Greensboro will never work. It hasn't worked for the last 30 plus years.