This is just to document things on this board so it starts to show up in Google searches, people want this info but it's hard to find.
No need to reply.
We closed offices in five cities between August and Monday’s layoffs: Atlanta, San Antonio, San Diego, St. Louis and Tampa,
Also, announced downsizing in: Boston, Chicago, San Francisco, Jersey City and Henderson
This has already been communicated via a legitimate source:
https://apnews.com/article/charles-schwab-layoffs-office-closures-96c116d86e04d9b3524dceb47f1ed2a9
@abq+1pmotHsb However, for any situations where the company has not communicated publicly, I do this this site serves a good purpose. If they didn't want people speculating, they should do a press release.
This board is not a legitimate documentation source. No one should be using it as such. Shame on any person or organization that has done so.
FINANCIAL DARWINISM ?
More office closures to come for ALL related brokerage firms, as digitization, A.I., and related redundancies take hold. The future is DIY or digital interactions with clients, Digital Assistants (Chat Boxes) and other client interfaces for the majority of small retail accounts ( $5 Million in Assets Under Management (AUM's) will receive the "red carpet" treatment with lots of specialized client attention from brokerage firm employees. If not, money generally goes where its treated best.
Competition between financial firms will be brutal to retain existing clients. Financial planners and financial advisors who fail to perform will eventually face retirement or a career change as this Bear Market deepens and clients inevitably leave or "move-around" .
This checks out. I am out of SF and it' was a big impact for us.
STL ended up downsizing instead of closing outright. The office in STL will be reopening in January 2024