Charles Schwab Plans to Lay Off 17% of Global Workforce
SOURCENews reportView the filing ↗
What we know
A specific layoff date has not been disclosed.
Based on news reporting.
Summary
The Charles Schwab Corporation is facing significant challenges as its Q3 revenue growth has slowed to the lowest rate in 2024, prompting the company to plan layoffs affecting 17% of its global workforce. This decision comes in response to the current economic climate and aims to streamline operations. While specific details regarding the number of employees affected or the timeline for these layoffs were not disclosed, the announcement reflects the company's efforts to adapt to changing market conditions. The stock market reacted negatively, with shares dropping 13% in pre-market trading following the news.
LayoffTalk has tracked 4 layoff events at The Charles Schwab Corporation since January 2024, including 155 jobs documented in official WARN filings, with 3 additional events known from news reporting.
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Estimated figure based on news reporting. Not yet confirmed by The Charles Schwab Corporation.
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