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LPL Financial slashing 133 jobs from San Diego office

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Posted at 6:11 PM, Feb 21, 2017
and last updated 2017-02-22 07:29:00-05

SAN DIEGO - Financial services company LPL Financial is slashing 133 jobs from its San Diego location, according to documents obtained by 10News.

LPL Financial announced that they will relocate the jobs to its Fort Mill, S.C., campus. The company also has a campus in Boston, Mass.

LPL have offered 36 San Diego employees the opportunity to move to South Carolina and retain their positions. No information was given on how many of those employees decided to move.

Another 97 employees will be let go mid-April.

Related: Major defense contractor Lockheed Martin plans to leave San Diego

Despite the layoffs, the company plans to continue to have a significant presence in San Diego and are not closing their location.

Last year, defense contractor Lockheed Martin announced plans to relocate 100 San Diego jobs to its headquarters in Littleton, Colo., noting affordability of moving some operations out of state.

South Carolina's corporate income tax rate for tax year 2016 was a flat rate of 5 percent, compared to California's flat rate of 8.8 percent. Colorado's corporate income tax rate was also a lean 4.6 percent.