Edward Jones lays off 259 workers this week
ST. LOUIS - Edward Jones, the financial services firm headquartered in St. Louis County, has announced 259 layoffs this week as part of companywide restructuring efforts.
In addition to the layoffs, the company says 552 home office associates "chose to accept a voluntary separation plan" earlier this year. In total, more than 800 employees have lost jobs from the layoffs and buyouts.
"Edward Jones completed the next phase of a multi-year initiative designed to bring greater efficiency and agility to its home office functions, enabling the firm to reinvest in its long-term growth and impact in serving more than 9 million clients," an Edward Jones spokesperson shared in a statement to FOX 2.
Edward Jones employs more than 55,000 people across the United States and Canada, according to the company website. Combined, the layoffs and buyouts represent less than 2% of the company's full-time and park-time workforce.
In previous FOX 2 reports, the company clarified that “home office associates” facing layoffs or buyouts refers to operational or headquarter-type functions, rather than financial advisors and branch office teams in the field.
The company also noted that reductions were not tied to a specific location and did not disclose how many employees were impacted at various locations, including the company's St. Louis-area headquarters in Des Peres.
