Charles Schwab plans big job shift out of San Francisco.
Charles Schwab will move jobs out of San Francisco over the next few years, seeking to reduce its office space here and boost its presence in less expensive places.
The company plans to eliminate about 30 percent, or 1,400, of its “seats” in San Francisco by allowing more employees to telecommute and by moving work — and jobs — to less expensive areas of the country or through attrition. Those seats are filled by full- and part-time employees as well as contractors.
The San Francisco brokerage does not anticipate layoffs as it shifts jobs outside the city, where it employs 4,600 people — making it the company’s largest employment center. But further growth in the city where Schwab has been based since its founding in 1974 is apparently off the table, even as its headcount rises nationally.
No comments yet.