More than 150 Fidelity workers are getting a new address this week. The Boston Behemoth started moving the workers to the former American Express building in downtown Providence, Rhode Island yesterday. The two-week-long move will see 325 workers relocate by the end of the month, according to a published report.

According to the Providence Journal, the workers will be settled in by the time Fidelity holds a ribbon cutting ceremony in early August. The workers including staff in its personal investment group and a number of senior executuves. Eventually, some of those workers may be relocated to a Fidelity campus in Smithfield that is now under expansion.

The move, which cost $13.9 million, has been in the works for about 18 months and is part a Fidelity effort to spread jobs now located in downtown Boston to less expensive locals in the greater Boston area. Fidelity is paying $2.04 million in annual rent for the space.

Fidelity signed a lease for the 113,000 square foot, four-story building in downtown Providence after a Rhode Island pension fund took over the building from Gateway Eight, which had filed for bankruptcy protection after missing payments on its $21.5 million mortgage.  

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE