RJR will vacate the historic Reynolds Building.
Reynolds is consolidating its downtown employees, both Reynolds American and the subsidiary, into the neighboring Plaza Building, spokeswoman Maura Payne said.
The company said that the decision is primarily about trying to balance consumer demand for its products with company size, the same pressure driving the other local restructurings that Reynolds has conducted since 1983.
Once Reynolds completes the elimination of 570 jobs in its latest restructuring by early 2010, the company said, it won’t need the building and the nearly 240,000 square feet of space anymore.
“We are beginning a process of analysis, input and planning for the best future use of the Reynolds Building that takes into account not only its practical usage but its historic significance to the community and the role it can play in downtown development,” Payne said. “At this stage in planning, everything is on the table,” including the sale of the building.
Look on the bright side: More downtown condo space.
