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Thursday, September 19, 2019|
Crawford Confirms Schwab Layoff Rumors, But ...
A top executive at a publicly traded brokerage confirms that layoffs are coming. Yet it's not clear how the cuts will affect the firm's $360-billion-AUM asset management arm.
Yet Crawford did not hint as to which Schwab units will be affected. Erin Montgomery, a Schwab spokeswoman, declined to comment on many of the cuts will come from Schwab's asset management unit, Charles Schwab Investment Management (CSIM) [profile], which is now led by Jonathan de St. Paer.
"We are currently reviewing our expense base, given the economic environment, and as part of that some 600 jobs will be eliminated," Montgomery tells MFWire via email. "It would be inappropriate to comment any further at this time."
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