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Charles Schwab to move 1,000 jobs out of SF

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Posted: Feb 7, 2014 4:29 AM

Updated: Feb 7, 2014 4:29 AM

SAN FRANCISCO (AP) Charles Schwab Corp. plans to move about 1,000 jobs out of San Francisco over the next five years and some could land in Texas.

The San Francisco-based banking and brokerage company has more than 13,000 employees, including about 2,700 in the Bay Area.

Spokeswoman Sarah Bulgatz on Thursday cited the high cost of doing business and living in the Bay Area. She says no final decision has been made about which jobs will be moved or where they will go but locations in Arizona, Colorado, Florida, Indiana and Texas are possibilities.

Market data shows the median home sales price in San Francisco in August was $870,000. The average rent for a two-bedroom apartment in San Francisco, Marin (muh-RIHN') and San Mateo counties was nearly $2,700 per month.

Topics: Charles Schwab-Job Transfers

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