Of the about 2,000 employees affected by Charles Schwab’s most recent round of layoffs, 155 are based at the company’s former headquarters in San Francisco.

A Nov. 6 Worker Adjustment and Retraining Notification filed with the California Employment Development Department confirms that 155 employees at Charles Schwab’s 211 Main St. office will be laid off by Jan. 5. The layoffs come as part of the company’s plan to let go of 5% to 6% of its workforce and downsize its real estate footprint in an effort to cut costs.

The WARN notice was only recently made public, the San Francisco Business Times reported Wednesday. The positions affected in San Francisco include senior managers, managing directors and directors who oversee advertising, business continuity, compliance and risk analysis, according to the Business Times.

The 211 Main St. office won’t just lose the 155 employees: Charles Schwab also plans to scale back its footprint in the building from 17 floors to just six. The company moved its headquarters from 211 Main St. to the Dallas-Fort Worth area in 2019.

The upcoming layoffs coupled with Charles Schwab’s plans to cut back its office space are expected to save the company $500 million annually, according to an August 2023 filing with the U.S. Securities and Exchange Commission.