Charles Schwab Corp. announced layoffs of 11% to 13% of full-time...

Charles Schwab Corp. announced layoffs of 11% to 13% of full-time employees, or 2,750 to 3,400 people. Mandatory reductions of 2,000 to 2,300 full-time employees and 150 to 200 contractors will be made in the second quarter, and another 600 to 900 full-time employees will leave in the last half of the year through voluntary attrition. The company also is seeking to reduce office space and to take some systems hardware out of service. Employees will be eligible for severance packages.