Reported Earlier, 'Schwab Lays Off Up To 2,154 People Out Of 35,900 Staff (5%-6%) As It Moves To Cut Costs' - MarketWatch
Portfolio Pulse from Benzinga Newsdesk
Charles Schwab Corp. has laid off 5% to 6% of its total workforce, amounting to 1,795 to 2,154 people, as part of its cost-cutting measures and to simplify operations during the integration of its acquisition of TD Ameritrade.
November 01, 2023 | 3:39 pm
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Charles Schwab Corp. has laid off up to 2,154 employees as part of its cost-cutting measures and to simplify operations during the integration of TD Ameritrade.
The layoffs at Charles Schwab Corp. are part of its cost-cutting measures and efforts to simplify operations during the integration of TD Ameritrade. This could potentially lead to short-term operational efficiency but may also cause disruption in the short term. Therefore, the impact on the stock price is neutral in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100