Charles Schwab has laid of 5% to 6% of its total head count of 35,900 in a reduction that amounts to 1,795 to 2,154 people, according to Dow Jones’ MarketWatch. “We have said good-bye to approximately 5-6% of our workforce. These were hard but necessary steps to ensure Schwab remains highly competitive, with industry-leading levels of efficiency, well into the future,” an internal memo from a company spokesperson stated, according to MarketWatch.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on SCHW:
- Charles Schwab won’t be dethroned as brokerage king, Barron’s says
- Charles Schwab put volume heavy and directionally bearish
- TD Bank (TSE:TD) Expects $156M Boost from Charles Schwab Stake
- Charles Schwab price target lowered to $55 from $57 at Barclays
- Charles Schwab price target lowered to $78 from $81 at Argus