1,000 positions at Charles Schwab and TD Ameritrade being eliminated
KETV Staff Report
DALAUN DILLARD, KETV NEWSWATCH 7 . DAVID: ABOUT A THOUSAND EMPLOYEES OF THE NEWLY COMBINED CHARLES SCHWAB AND T.D. AMERITRADE WILL LOSE THEIR JOBS OVER THE NEXT FEW WEEKS. SOME, BUT NOT ALL, OF THOSE LAYOFFS ARE HAPPENING IN OMAHA, THE OLD HEADQUARTERS OF T.D. AMERITRADE. IN A STATEMENT OUT TODAY, SCHWAB SAYS IT'S STREAMLINING ITS OPERATIONS AND REDUCING REDUNDANT POSITIONS. THE BROKERAGE GIANT SAYS IT'S PLANNING NO MORE CUTS FOR 20
Approximately 1,000 positions at Charles Schwab and TD Ameritrade are being eliminated, Charles Schwab officials said Monday."We have begun notifying individuals that their roles have been eliminated and they will be leaving the firm. This will result in a reduction of approximately 1,000 positions or about 3% of the combined workforce of Charles Schwab and TD Ameritrade," Schwab Executive Council wrote in a statement. Officials said that, after this week, no additional company-wide reductions will be executed in 2020. These reductions are part of efforts to reduce overlapping or redundant roles across the two firms, officials said."But the combined firm will continue to hire in strategic areas critical to support our growing client base," the statement reads.
Approximately 1,000 positions at Charles Schwab and TD Ameritrade are being eliminated, Charles Schwab officials said Monday.
"We have begun notifying individuals that their roles have been eliminated and they will be leaving the firm. This will result in a reduction of approximately 1,000 positions or about 3% of the combined workforce of Charles Schwab and TD Ameritrade," Schwab Executive Council wrote in a statement.
Officials said that, after this week, no additional company-wide reductions will be executed in 2020.
These reductions are part of efforts to reduce overlapping or redundant roles across the two firms, officials said.
"But the combined firm will continue to hire in strategic areas critical to support our growing client base," the statement reads.