Charles Schwab to cut over 500 jobs

January 30, 2009 5:11:57 PM PST
The San Francisco-based brokerage, Charles Schwab, is cutting between 500 and 600 jobs.

About half the layoffs will hit Schwab's San Francisco headquarters.

Schwab is warning of a 20-percent decline in revenue this year and it plans to reduce operating expenses by up to eight percent.