Pinnacle Move Could Impact Hundreds of Jobs
(Memphis) The future of several Memphis jobs are still ‘up in the air’ as Pinnacle Airlines considers moving its headquarters from Memphis to Minneapolis.
Last year, the company moved its headquarters from Memphis International to downtown because of financial incentives by the city.
Now however, the company could may leave all together to save even more money.
Pinnacle employs more than 650 people in Memphis.
A spokesman for Pinnacle Airlines says this fall, the company should know where their headquarters will be based.
Pinnacle didn’t want to do any interviews, but in a statement Joe Williams said, ‘We have the responsibility to explore every opportunity to reduce costs as part of our reorganization.’
This reorganization follows the company’s bankruptcy earlier this year.
Economic development groups in Minneapolis say the company can save money by moving there.
Pinnacle says right now, the company is comparing Memphis and Minneapolis in categories like the cost of living, the pool of available workers, and the possibility of economic deals that can be struck with state and local governments.
The Greater Memphis Chamber of Commerce will not comment on the possible move because at this point, it’s just a possibility.
Chad Meadows is a mechanical engineering major at the University of Memphis and says the move could be detrimental to his future and the community, “I’m going to graduate in a few years and I need a job as soon as I graduate. The loss of jobs means loss of possible internships around here. It would be beneficial if they stay.”
Pinnacle has eliminated Detroit from the list of possible headquarter cities.