Business Journal: Local E Trade Office Makes Changes

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(Sacramento, CA)
Tuesday, November 22, 2005

E Trade Financial began as an Internet broker … but has moved far beyond online stock trading. Its profits primarily come from mortgages, boat loans, credit cards and other financial products.

New layoff and hiring decisions reflect the shift. The national company says its shedding about 100 jobs at its Rancho Cordova back office that are aligned with the brokerage business … but it’s adding 200 people for customer service and call center jobs.

Once it’s all phased in by next spring, E Trade’s local payroll should total about 900 next