Charles Schwab brokerage to move 1,000 jobs out of SF

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A well-known San Francisco-based banking and brokerage company is planning to move about 1,000 jobs out of the city over the next three to five years.

The company, Charles Schwab Corporation, employs about 2,700 people in the Bay Area out of more than 13,000 in total.

Spokeswoman Sarah Bulgatz says Charles Schwab Corp. will be sending the jobs out of state because of the high cost of living and of doing business in the Bay Area.

Bulgatz also says there the company has had difficulty recruiting in the Bay because of the intense competition for top talent.

No final decision has been made about where the jobs will be sent, she said, though locations in Arizona, Colorado, Florida, Indiana and Texas are possibilities.

(Copyright 2014 Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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