CNN —Charles Schwab has laid off about 5% to 6% of its employees, amounting to roughly 2,000 people, as it looks to cut costs. “They are decisions that impact very talented people personally, and we take that very seriously,” a spokesperson said. Part of the changes includes evaluating its “real estate footprint, streamlining our operating model, and staffing reductions, largely in non-client-facing areas,” a Schwab spokesperson said. Like other banks, Schwab endured turbulence earlier this year when its bottom line was given a hard look by investors after the collapse of Silicon Valley Bank. Shares of Schwab (SCHW) are down 35% for the year, and up 1% in early afternoon trading.

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Persons: Charles Schwab, Schwab, ”, Schwab’s headcount, “ Organizations: CNN, Silicon Valley Bank, Schwab Locations: Silicon