Schwab Charles layoffs, on the record
Every job cut, severance charge and restructuring Schwab Charles reported in its annual reports, 2023 to 2025, quoted from the filings.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2025 | approximately 33,000 | December 31, 2025 |
Job cuts, severance and restructuring
Our summarySchwab recognized restructuring costs in 2023 within compensation and benefits, mainly tied to position eliminations from its restructuring and Ameritrade integration.
Word for word“Compensation and benefits also included a $34 million benefit in 2024, due to a change in estimated restructuring costs, and included restructuring costs of $292 million in 2023.” 10-K for 2025
Our summarySchwab said lower headcount in 2024 resulted from position eliminations tied to its restructuring and the Ameritrade integration, which reduced total compensation and benefits.
Word for word“Total compensation and benefits decreased in 2024 from 2023 primarily due to restructuring costs recognized in 2023, as well as lower headcount as a result of position eliminations from the restructuring and Ameritrade integration.” 10-K for 2025
Our summarySchwab said acquisition, integration and restructuring-related costs fell in 2024 because nearly all restructuring costs were incurred in 2023.
Word for word“Acquisition and integration-related costs, amortization of acquired intangible assets, and restructuring costs totaled $645 million in 2024, down 55% from 2023, as substantially all of the Company’s costs related to its restructuring were incurred in 2023, and spending for the Ameritrade integration decreased in 2024 as we completed the final integration activities.” 10-K for 2025
| Fiscal year ended | Restructuring charges | Restructuring costs incurred | Cash paid for restructuring |
|---|---|---|---|
| 2020-12-31 | $176 million | $186 million | $89 million |
| 2021-12-31 | $83 million | $83 million | $158 million |
| 2022-12-31 | — | $25 million | $14 million |
Schwab Charles has filed no restructuring notice (Form 8-K, Item 2.05) since 2016. Companies file one only for a cut they judge material, so many announced layoffs never appear as one. This page shows what the company reported to the SEC, not news reports or state layoff notices.
Read from Schwab Charles’s annual reports (10-K for 2025, 10-K for 2024, 10-K for 2023) and the financial data it files with the SEC, as of 2026-02-25. Every quotation is word for word from the filing linked beside it; how these pages are built and checked. The full record is in its company data sheet.