Charles Schwab to cut about 1,000 jobs

FILE PHOTO: A Charles Schwab office is shown in Los Angeles, California January 29, 2016. REUTERS/Mike Blake

(Reuters) – Charles Schwab Corp SCHW.N said on Monday it is laying off about 1,000 positions in the combined workforce of Charles Schwab and TD Ameritrade to streamline and reshape their branch network.

“These reductions are part of our efforts to reduce overlapping or redundant roles across the two firms,” Charles Schwab, which completed the acquisition of TD Ameritrade earlier in October, said.

The financial services company also said it won’t be executing any additional company-wide reductions for the rest of 2020.

Source: Read Full Article