(Reuters) – U.S. lender Charles Schwab said on Monday it plans to reduce its operating costs primarily through lowering its headcount and professional services.
The company said in a regulatory filing that it was currently assessing its real estate footprint, and that it planned to close or downsize certain corporate offices.
Charles Schwab said it expected to realize about $500 million of incremental annual run-rate cost savings to be achieved by undertaking these actions.
(Reporting by Jaiveer Singh Shekhawat and Granth Vanaik in Bengaluru; Editing by Krishna Chandra Eluri and Maju Samuel)
