Charles Schwab Corp. announced more layoffs Thursday, this time in its British subsidiary.
Schwab will cut up to 180 positions, or 20% of its work force, in the Charles Schwab Europe unit.
The announcement came just weeks after Schwab said it would cut 13% of its work force in an attempt to ride out market volatility and the resulting bearishness among retail investors.
The job cuts in Britain are in addition to the 3,400 already announced, said spokesman Glen Mathison. Schwab employs 24,300 around the world, including 850 in Europe.
Mr. Mathison said that the cuts in Britain are been driven by the same fundamentals fueling those in the United States. Its the same factors depressed trading volume and a slowdown in the market, he said. Schwab has not indicated which sectors will be affected by any of the layoffs.
Schwab also has a presence in Australia, Japan, Hong Kong, and Latin America. Were taking a close look at expenses across the company worldwide, Mr. Mathison said. However, he added, the investments abroad are pretty new, and theyre lean.