What Other Industries is Wall Street’s Decline Impacting

If you thought your landlord was cranky before, wait until he realizes that the plethora of Wall Street layoffs could reduce the demand for office space.
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Feb. 9, 2012 - PRLog -- Consequently, the Wall Street Journal (http://online.wsj.com/article/BT-CO-20120131-717936.html) reports that SL Green Realty Corp. – New York City’s largest office landlord – could be headed for dark times in the coming months. While space demand falls, rent growth is expected to diminish.

This is just one of the many ups (http://streetid.com/newsblog/?p=814) and downs (http://streetid.com/newsblog/?p=791) of the financial sector, which has negatively affected a number of industries over the past few years. For this quarter, however, SL Green Realtys’ earnings proved to be better than many had anticipated.

According to the Wall Street Journal, the company has benefited from an increase in demand from “technology, media and retail companies “that have limited options for new space.” With fewer spaces available, SL Green Realty was able to raise its rental fees – and its bottom line. But it seems that gravy train might soon come to an end.

With so many layoffs (http://streetid.com/newsblog/?p=737) already in the can, and the horrifying potential for another round (http://streetid.com/newsblog/?p=826), the Wall Street Journal said that some analysts do not believe that SL Green Realty will be able to maintain its momentum. Bank of America, for example, said “adios!” to 30,000 jobs. These jobs weren’t cut all at once. But with nykl the company’s staggered reductions, landlords simply have a little more time to fill their spaces. In the end, however, they are still going to lose some occupants.

If you’re one of the hardworking Wall Street professionals facing tough times, we want you to know that we are here to help. We are StreetID (http://streetid.com). We built our site from the ground up to accommodate Wall Street’s growing community (http://streetid.com/community) of financial professionals and to become the number-one financial career matchmaking site. StreetID has a growing community (http://streetid.com/community) of financial professionals. With StreetID, current job seekers and those looking to move on in the future can sign up for a free account (http://streetid.com/signup/candidate) and make a direct connection with relevant candidates and employers.
Source:Jesse Marrus
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Tags:Career, Finance, Job, Wall Street, Investment Bank, Hedge Fund, Streetid, Finance Jobs, Banking Jobs, Hedge Fund Jobs
Industry:Finance, Human resources
Location:New York City - New York - United States
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