Schwab lays off up to 2,154 people out of 35,900 staff as it moves to cut costs

Charles Schwab Corp. has laid of 5% to 6% of its total head count of 35,900 as it moves to contain costs and remove complexity from the broker as it integrates its acquisition of TD Ameritrade.

The employee reduction amounts to 1,795 to 2,154 people after it disclosed plans to reduce its expenses in July.

Other steps include changes to its…