Schwab Cuts More Than 2,000 Jobs as It Absorbs TD Ameritrade

Charles Schwab Corp. finished cutting as much as 6% of its 35,900-member workforce, amid efforts to curb costs as it continues to integrate TD Ameritrade, according to a company spokesperson.

The number of cuts, ranging from 5% to 6% of staff at the Westlake, Texas-based company, translates to as many as 2,154 employees, based on a corporate fact sheet that put the company’s overall headcount at 35,900 at the end of September.

“These were hard but necessary steps to ensure Schwab remains highly competitive, with industry-leading levels of efficiency, well into the future,” the spokesperson said in an emailed statement. ...