⁍ Charles Schwab said on Monday it is laying off about 1,000 positions in the combined workforce of Charles Schwab and TD Ameritrade.

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⁍ ‘These reductions are part of our efforts to reduce overlapping or redundant roles across the two firms,’ Charles Schwab said.

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⁍ In November last year, Charles Schwab had agreed to buy TD Ameritrade Holding in an all-stock deal valued at $26 billion.

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– Charles Schwab is laying off about 1,000 employees as part of a plan to “reduce overlapping or redundant roles across the two firms,” the company said in a statement Monday. The company, which recently completed a $26 billion acquisition of TD Ameritrade Holding, said it won’t be executing any further company-wide reductions for the rest of 2020, Reuters reports.