Charles Schwab said Monday it is laying off 1,000 employees from the combined Schwab-TD Ameritrade company. “We have begun notifying individuals that their roles have been eliminated and they will be leaving the firm,” Schwab said in a press release. “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 did not immediately comment on what roles will be eliminated. The $26 billion Schwab-TD Ameritrade merger closed earlier this month, creating a behemoth online brokerage with more than $6 trillion in client assets … (full story)
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