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Rating:Schwab to Shutter a Score of Branches Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, August 13, 2003

Schwab to Shutter a Score of Branches

by: Sean Hanna, Editor in Chief

Charles Schwab & Co. is planning to shutter another 20 branches as part of an effort to bolster its bottom line. The San Francisco-based broker said that it would take a $35 million to $50 million pre-tax charge in the second half of this year due to the closings.

The broker will also cut some 250 jobs along with the branches. The move does not affect Schwab's fund business.  

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