World News – United States – Charles Schwab to lay off 1,000 workers following merger with TD Ameritrade

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Charles Schwab announced on Monday that he was laying off 1,000 employees of the combined company Schwab-TD Ameritrade

« We have started advising individuals that their roles have been removed and that they will be leaving the company, » Schwab said in a press release « This will result in a reduction of about 1,000 jobs, or about 3% of the combined workforce of Charles Schwab and TD Ameritrade »

Schwab’s $ 26 billion merger with TD Ameritrade closed earlier this month, creating an online brokerage giant with over $ 6 trillion in client assets and 28 million brokerage accounts Integration of Schwab and TD Ameritrade operations expected over the next 18-36 months as the company seeks to streamline its structure Â

« These cuts are part of our efforts to reduce overlapping or redundant roles between the two firms, but the merged firm will continue to hire in key strategic areas to support our growing client base, » the firm said

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Schwab also said that despite the layoffs, he will continue to hire in key strategic areas to support his growing customer base. Laid off employees will have early access to all newly opened positions

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Charles Schwab Corporation, TD Ameritrade, Mergers and Acquisitions, NYSE: SCHW

News from around the world – United States – Charles Schwab to lay off 1,000 workers following merger with TD Ameritrade



SOURCE: https://www.w24news.com/news/world-news-united-states-charles-schwab-to-lay-off-1000-workers-following-merger-with-td-ameritrade/?remotepost=475092

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