PROVIDENCE, R.I. — Insurer FM said Friday that moving its global headquarters into downtown Providence will cost a limited number of jobs, and that some workers now at its longtime Johnston campus will be sent to Massachusetts offices instead of the new city site.
The company’s new home will be at 10 Memorial Boulevard, a 10-story building FM bought months ago from its previous owner. FM plans to take part of the tower and keep the tenants already there. The move is set to start once renovations wrap up in late 2027.
FM, which focuses on loss prevention for large commercial clients, said this week it had told some employees whose jobs directly support the Johnston building that the relocation could affect their positions. Johnston Mayor Joseph Polisena Jr. said Friday that between 40 and 50 people there have been laid off, and that hundreds of others are headed to a redeveloped campus in Norwood, Mass., not to Providence. Other Johnston staff will report to offices in Boston and West Glocester.
Polisena said the town was caught off guard, because earlier conversations with the company had pointed to an expansion, not a departure. Several Johnston council members also voiced disappointment and said they would push to keep the 93-acre campus, which FM still owns, in use.
A company spokesperson said the shift reflects FM’s nearly 200-year history in Rhode Island and a regional plan spreading its operations across sites in both states. Massachusetts economic development officials noted this week that FM’s Norwood science and technology center has added 96 hires this year, with more planned in 2027.
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