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Brokerage and financial services giant Charles Schwab is embarking on a major cost-cutting program that could hit the Phoenix operations center and its 2,500 employees.
The company expanded operations in the Valley to much fanfare in the late 1990s and 2000, but hit a snag in 2001 when job cuts hit local employees. By 2003, the job count in Phoenix was down to 3,500.
Schwab now has 2,500 workers in the area, but the Valley still is the company's second-largest hub after its San Francisco headquarters. The brokerage giant has customer service and data center operations at several locations in the Phoenix area.
Spokeswoman Sarah Bulgatz said no specific cuts have been earmarked yet for Schwab's Valley operations, but the...