[seanmccann]

> The company said Monday that “a small percentage of roles may move from San Francisco to Westlake over time, either through relocation or attrition. The vast majority of San Francisco-based roles, however, are not anticipated to be impacted by this decision. Schwab expects to continue hiring in San Francisco and retain a sizable corporate footprint in the city.”

Doesn't sound like they are leaving San Francisco, just building a new office in Texas (suburb north of Fort Worth).

[hourislate]

From what I have read in the Local News, it is just the first phase. I am assuming they will eventually move entirely but don't want to spook their existing workforce in SF.

[hkmurakami]

They'll keep outside facing functions here for the local markets, clients, partners, etc.

Corporate back office operations will move entirely

[hkmurakami]

They're moving HQ and refraining from growing headcount here in the future

[repsilat]

Yeah. Also from TFA:

> Schwab says it plans to retain a “sizeable corporate footprint” in San Francisco, but the brokerage firm has slashed its workforce in the city by 90% since 2000 while expanding branches around the country.

It sounds like this is just a good opportunity to cross another bridge.

[newguy1234]

That's what they always say but overtime they "integrate" more of the operations to the new headquarters and then eventually they want everyone under the same roof.

[proverbialbunny]

That's not always true. Some companies want and have an intentional international presence, for example.

Many companies head quartered outside of the bay area create and hold parts of their company in the bay area. Not just companies from other states, but companies from other countries too. They do this, because they know how hard it is to get smart and talented employees doing difficult and cutting edge tech work outside of the Bay Area.

Now if you're an accountant or are in sales, ... yah you're going to TX or finding a new job.

[scurvy]

Sell side sales will probably stay in SF for west coast clients. I doubt Schwab has much in the way of Asia customers, but I bet there's a lot of west coast whales.