ATLANTA — RJR Nabisco Inc. will move its headquarters to the metropolitan New York area from Atlanta, the food and tobacco giant announced Thursday, shortly after shareholders approved the record $24.53-billion buyout of the company by Kohlberg Kravis Roberts & Co.
RJR Nabisco said its new chairman, Louis Gerstner Jr., sent a letter to employees saying the plans of the firm can "best be achieved by maintaining close ongoing contact with the investment banking community and other New York-based segments of the business community."
The letter said relocations could begin by early summer and would be completed by the end of the year. Some existing corporate functions may be reassigned to RJR Nabisco's operating companies, the letter said.
May Be Layoffs
The company will decide during the next few weeks whether layoffs are necessary, said Pauline Howes, an RJR Nabisco spokeswoman.
"We are in the process of looking at staffing needs," she said, adding, "There might be some functions and positions that might not remain with the company."