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Charles Schwab Begins Layoffs

Charles Schwab on Monday began laying off employees across the company.

Schwab, the largest publicly traded U.S. brokerage, didn’t disclose how many employees were affected in an internal message seen by The Wall Street Journal. Some remaining employees will have new jobs or managers, according to the message.

“We know this has been a challenging year, and that today was hard. We also know the work needed to come through this change even stronger than before is just beginning,” CEO Walt Bettinger and President Rick Wurster said in the message.


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