Edward Jones, the financial services firm headquartered in St. Louis County, has planned to carry out layoffs as part of a companywide restructuring effort. The company says on its website that it has “consistently” been ranked “among the best companies to work for by FORTUNE magazine, and our employees tend to stay with us for years.”
The website adds, “As a privately-owned company, Edward Jones has a very personal feel that's almost like family. Out of our partnership structure grows a spirit of collaboration. We have a shared focused on doing what's best for our clients, our communities and one another.”
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‘The size of our home office will be reduced’
An Edward Jones spokesperson told Fox 2 in a statement on Friday, August 15, “As we continue our journey to serve more clients more completely, Edward Jones is making changes to its home office structure designed for greater speed and ease of decision making to support our client and branch experience. As a result, the size of our home office will be reduced. We are committed to communicating early and transparently with our colleagues throughout the process and take decisions that impact our colleagues very seriously and strive to make them according to our core values. Our top priority remains supporting our colleagues and serving our clients.”
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{{/usCountry}}The company later clarified that when it says “home office,” it means operational or headquarter-type functions as opposed to financial advisors and branch office teams in the field. The company noted that any positions subject to reductions are not related to a specific location.
Edward Jones’ website says that over 55,000 people across the United States and Canada are employed by them. However, the firm did not specify how many employees could face layoffs, when the layoffs could take place or how the changes may impact St. Louis-area operations. Layoff notifications may be sent as early as August 26, as reported by the St. Louis Business Journal.