hr.economictimes.indiatimes.com | www.ETHRWorld.com
Charles Schwab has laid off 5% to 6% of its total headcount in a bid to cut rising costs, a company spokesperson said on Wednesday.
The reduction amounts to between 1,795 and 2,154 people out of its 35,900-strong workforce.
“These were hard but necessary steps to ensure Schwab remains highly competitive,” the spokesperson said in an emailed statement.
In August, Charles Schwab disclosed plans to save $500 million by cost-saving measures and said at the time it would cut jobs, without disclosing the number of employees it was going to lay off.
(Reporting by Jaiveer Singh Shekhawat in Bengaluru; Editing by Devika Syamnath)
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