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Charles Schwab to move 1,000 jobs out of San Francisco
http://www.latimes.com/business/la-fi-schwab-jobs-leave-san-francisco-20140206,0,6643367.storyCharles Schwab to move 1,000 jobs out of San Francisco
Associated Press
February 6, 2014, 4:28 p.m.
Charles Schwab Corp. said Thursday it is planning to move about 1,000 jobs out of San Francisco over the next three to five years.
The San Francisco-based banking and brokerage company has more than 13,000 employees, including about 2,700 in the Bay Area.
It is moving the jobs out of San Francisco because of the high cost of doing business and the high cost of living in the Bay Area, spokeswoman Sarah Bulgatz said. But, she added, "We intend to keep our corporate headquarters in San Francisco for the foreseeable future."
According to market data from Paragon Real Estate Group, a San Francisco-based real estate company, the median home sales price in the city in August was $870,000, and the average rent for a two-bedroom apartment in San Francisco, Marin and San Mateo counties was $2,697 a month.