DealZone

Get off your assets!

January 26, 2009

USACharles Schwab wants a little more talk and a little more action. The online brokerage with the avuncular “Talk to Chuck” ads launched a new campaign in January, this time zeroing in on the frustration and outright anger that it says infected investors since markets toppled last year. The print version of the tough-love ads features one such disgruntled soul complaining “I did everything right. Then everything went wrong.” To which Schwab commands: “DO SOMETHING ABOUT IT”, “TALK TO CHUCK.”

Meanwhile, the company itself is taking its own kick-in-the-pants advice. Schwab cut some 100 jobs last month and expects to announce more this year as part of a muscular push to compress costs amid the market crash. The first round of layoffs was mostly senior management, and more could be detailed as early as Thursday, when it hosts a online business update for investors.

Comments
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Ballmer put it well last week in Microsoft’s quarterly when he referenced a “resetting of the economy.” The economy, sales and prices have all taken a shift down, so costs have to as well. Businesses are retooling and candidates have to do the same.
Brian Marchant-Calsyn

 

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