Charles Schwab Planning to Move Jobs from San Francisco to Texas

Those high taxes

Charles Schwab's exodus from San Francisco is taking on new energy after the company told employees in the city that it plans to move "a significant number of San Francisco-based jobs" to other locations over the next three to five years.

"Additionally, as has been our practice for the last number of years, future firm expansion will be concentrated in these centers," said Schwab spokesman Greg Gable. The company didn't say how many jobs will be leaving San Francisco, where the headquarters will remain.

"We expect to maintain a significant presence of employees here at headquarters," Gable said.