{"id":5828,"date":"2023-11-02T01:34:27","date_gmt":"2023-11-02T01:34:27","guid":{"rendered":"https:\/\/connectwithfund.com\/business\/charles-schwab-lays-off-about-2000-employees\/"},"modified":"2023-11-02T01:34:27","modified_gmt":"2023-11-02T01:34:27","slug":"charles-schwab-lays-off-about-2000-employees","status":"publish","type":"post","link":"https:\/\/connectwithfund.com\/?p=5828","title":{"rendered":"Charles Schwab lays off about 2,000 employees"},"content":{"rendered":"<div data-editable=\"content\" itemprop=\"articleBody\" data-reorderable=\"content\">\n<p class=\"paragraph inline-placeholder\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/clofylwb6000r67ns9cyieigm@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n      Charles Schwab has laid off about 5% to 6% of its employees, amounting to roughly 2,000 people, as it looks to cut costs.\n  <\/p>\n<p class=\"paragraph inline-placeholder\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/clofyvhwb00043b6hiz4gthiq@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n      A Schwab spokesperson said these \u201cwere hard but necessary steps to ensure Schwab remains highly competitive, with industry-leading levels of efficiency, well into the future.\u201d\n  <\/p>\n<p class=\"paragraph inline-placeholder\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/clofyvxlw00063b6h4iycb66e@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n      The company only released a percentage of how many people were laid off and didn\u2019t give a precise number,<strong> <\/strong>but<strong> <\/strong>Schwab\u2019s headcount was 35,900 as of September 30, according to a corporate fact sheet.\n  <\/p>\n<p class=\"paragraph inline-placeholder\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/clofyxqfc00083b6h64ubieg3@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n      \u201cThey are decisions that impact very talented people personally, and we take that very seriously,\u201d a spokesperson said. \u201cWe worked diligently to ensure affected employees were treated with care and respect throughout this difficult process.\u201d\n  <\/p>\n<p class=\"paragraph inline-placeholder\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/clofyrq3q00003b6hb2gbrwc0@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n      The cost-cutting measures were first announced in the summer, with the brokerage looking to cut $500 million in costs as it faces investor pressure.\n  <\/p>\n<p class=\"paragraph inline-placeholder\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/clofyzrnx000a3b6h5vykv3y6@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n      Part of the changes includes evaluating its \u201creal estate footprint, streamlining our operating model, and staffing reductions, largely in non-client-facing areas,\u201d a Schwab spokesperson said.\n  <\/p>\n<p class=\"paragraph inline-placeholder\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/clofyvaas00023b6hssj716sm@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n      Like other banks, Schwab endured turbulence earlier this year when its bottom line was given a hard look by investors after the collapse of Silicon Valley Bank.\n  <\/p>\n<p class=\"paragraph inline-placeholder\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/clofz1wpu000c3b6hfxz6oj2m@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n      Shares of Schwab (SCHW) are down 35% for the year, and up 1% in early afternoon trading.\n  <\/p>\n<\/p><\/div>\n<p>Read the full article <a href=\"https:\/\/www.cnn.com\/2023\/11\/01\/markets\/charles-schwab-layoffs\/index.html\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Charles Schwab has laid off about 5% to 6% of its employees, amounting to roughly 2,000 people, as it looks to cut costs. A Schwab spokesperson said these \u201cwere hard but necessary steps to ensure Schwab remains highly competitive, with industry-leading levels of efficiency, well into the future.\u201d The company only released a percentage of how many people were laid off and didn\u2019t give a precise number, but Schwab\u2019s headcount was 35,900 as of September 30, according to a corporate fact sheet. \u201cThey are decisions that impact very talented people personally, and we take that very seriously,\u201d a spokesperson said.<\/p>\n","protected":false},"author":1,"featured_media":5829,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[36],"tags":[],"class_list":["post-5828","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Charles Schwab lays off about 2,000 employees | ConnectWithFund<\/title>\n<meta name=\"description\" content=\"Charles Schwab has laid off about 5% to 6% of its employees, amounting to roughly 2,000 people, as it looks to cut costs. 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