Financial services firm Charles Schwab Corp. announced that it will cut 1,000 jobs by the end of the year as part of its merger with TD Ameritrade. The job losses will mostly impact their branch operations, according to Reuters.
“These reductions are part of our efforts to reduce overlapping or redundant roles across the two firms,” Charles Schwab said in a statement. Schwab completed the acquisition of TD Ameritrade earlier in October.
Charles Schwab Corp. stated that it would make no further layoffs during 2020.