Charles Schwab is cutting about 600 jobs, Reuters

On Monday, and to the surprise of most market analysts, growth stocks experienced a massive sell off. What made this unusual was that there wasn’t any particular market catalyst one could put their finger on to justify this price action; it just kind of happened.

Are financial services companies hedging their bets? We are nearing the 4th quarter, and history has shown that autumn can pose significant risks for investors

(Reuters) – Discount brokerage company Charles Schwab Corp (SCHW.N) is cutting about 600 jobs after an internal review, a company spokeswoman confirmed on Tuesday.

“Impacted positions span all staffing grades, as well as organizations and locations across the company,” the spokeswoman said in an emailed statement.

The Wall Street Journal reported on Tuesday that the company planned to eliminate nearly 3% of its workforce.
Read more

Leave a Reply

%d bloggers like this: