Schwab Plans Layoffs, Office Closures in Effort to Rein in Costs. Investors Still Aren’t Happy.
Charles Schwab plans to cut costs by reducing headcount and closing or downsizing offices, leading to a decline in its stock price.
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Posted 8/22/2023, 5:15:46 PM
barrons.com
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Schwab plans to cut jobs and raise debt in investment grade bonds amid a concerning rise in bond yields and the timeline for treasury issuances.
The Charles Schwab Corporation closed at $59.68, down 1.36% from the previous day, and is expected to report lower earnings and revenue in its upcoming release.