What’s Going on at Edward Jones?
Edward Jones is moving ahead with a significant internal overhaul — and thousands of employees who support its 20,000 financial advisors could be affected.
- The St. Louis-based investment firm has begun informing leadership that layoff notices will be issued by August 26, according to internal communications cited by the St. Louis Business Journal.
- Financial advisors are not at risk
- 9,000 support employees across North America — including those at campuses in St. Louis, Tempe (Arizona), and Mississauga (Canada) — may face job losses.
- The cuts are part of “Enterprise Reimagined,” a company-wide restructuring effort aimed at streamlining decision-making and reducing operational layers.
- Some employees have already accepted early retirement or buyout offers, and more formal layoff notifications are imminent.
“As a result, the size of our home office will be reduced,” a company spokesperson confirmed Friday.
Official Statements
In a statement, the company said it is evolving its internal structure “to serve more clients more completely” and to support both branch and client experience more efficiently.
- The goal is greater speed and ease of decision-making, according to the statement.
- Edward Jones is not alone. Morgan Stanley, Cetera Financial Group, Osaic, and LPL Financial Holdings have all trimmed their workforces.
- Analysts point to cost pressures and market uncertainty, especially tied to ongoing US trade and tariff policies under...
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