YOUR BUSINESS AUTHORITY

Springfield, MO

Log in Subscribe

Charles Schwab cuts 600 jobs

Posted online

Charles Schwab Corp. is laying off some 600 employees as Federal Reserve interest rate cuts harm its banking arm.

The nationwide cuts affect roughly 3% of Charles Schwab's workforce.

“Impacted positions span all staffing grades, as well as organizations and locations across the company. While it is never easy to say goodbye to valued colleagues, these actions are a prudent step to ensure we manage our expense growth while continuing to invest in initiatives that allow us to achieve greater scale and efficiency – like platform improvements and digital experiences,” a spokesperson for the company said.

Read more from Fox Business.

Comments

No comments on this story |
Please log in to add your comment
Editors' Pick

Open for Business: Interpres Building Solutions LLC

Interpres Building Solutions LLC gave former Springfield Fire Station No. 6 new life; Crave Cookie Dough added a south-side store; and Kansas-based Artistic Works by Lu LLC opened a brick-and-mortar shop.

Most Read
SBJ.net Poll
Which bank holds your deposits?

View results