Schwab to close more offices; one in El Paso

[Judi Lynn]

Saturday, July 31, 2004

In brief: Schwab to close more offices; one in El Paso


Charles Schwab Corp. will close its El Paso office Aug. 31 as part of a consolidation that will close 53 branches and leave about 180 people jobless nationwide.

Schwab, the nation's biggest discount brokerage firm, made the cuts to save as much as $200 million in costs because of a decline in trading. Schwab also closed 49 branches last year.

"The decision was based on our perception that the branch was being underused by our clients," Schwab spokeswoman Sarah Bulgatz said of the El Paso office, which employs three.

Bulgatz would not say if the El Paso workers were going to be laid off or transferred. She did say that a small percentage of the workers at closed branches were made relocation offers.
(snip/)

http://www.borderlandnews.com/stories/business/20040731-149584.shtml

[hadrons]

1. look at what that Bush vote got you Chuckie Schwab

[no_hypocrisy]

2. Well, when you give more money to less people, that means less

investors for everybody, including Schwab.

Remove the tax cuts to the top 1%, put businesses in a position where they invest in themselves instead of their CEO's, put people back to work, and there's money (and investment) for a larger customer base.