---
schema_version: "secwatch.filing_event.v1"
accession: "0000316709-23-000040"
form_type: "8-K"
ticker: "SCHW"
cik: "0000316709"
company_name: "SCHWAB CHARLES CORP"
filed_at: "2023-08-21T23:59:59+00:00"
generated_at: "2026-06-11T06:33:29.135155+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Schwab plans at least $500M annual cost savings from headcount and real estate cuts

## Summary
- Expects incremental annual run-rate cost savings of at least $500M through headcount, professional services, and real estate reduction.
- Anticipates exit and related costs of $400M to $500M, mostly in H2 2023 for employee compensation and in 2023-2024 for real estate.
- Actions are in addition to TD Ameritrade integration synergies; plans include closing or downsizing certain corporate offices.
- Management cites post-integration streamlining as driver; forward-looking statements subject to risks.

## SEC filing metadata
- accession: 0000316709-23-000040
- form_type: 8-K
- ticker: SCHW
- cik: 0000316709
- company_name: SCHWAB CHARLES CORP
- filed_at: 2023-08-21T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 8.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/316709/000031670923000040/0000316709-23-000040-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/316709/000031670923000040/schw-20230821.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000316709-23-000040
- JSON: https://secwatch.observer/filing/0000316709-23-000040.json
- Plain text: https://secwatch.observer/filing/0000316709-23-000040.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.