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The Charles Schwab Corporation Anticipates Economic Strength in 2018

Charles Schwab press release January 25, 2018 ---------- Chairman of the Board, Charles R. Schwab commented today, “With the global economy already on a positive path, the recent tax reform enacted by Congress and signed into law in late 2017 provided new fuel for economic growth in 2018 and we expect it to be a stimulus for the market as investors anticipate the positive impact tax reductions will have on U.S. businesses. As just one example, our firm will see a reduction in its tax obligation of approximately one third, which reinforces our confidence in making ongoing investments in our business.”President and CEO, Walt Bettinger commented, “In 2017, anticipating the tax law change and in response to the company’s strong financial performance and our employees’ unwavering commitment to clients, Schwab provided a special $1,000 bonus for about 9,000 non-executive employees. Based on the favorable environment, we also continued hiring staff across the firm’s geographic locations, adding over 1,200 net new employees, and we allocated part of our 11% overall spending increase to support client service efforts and continue to build out new business centers in Austin and Dallas that will allow us to house over 4,000 new employees in the next two years. Additionally, we expanded parental leave benefits for all Schwab employees and increased the annual corporate contribution to philanthropy to benefit our local communities.” To learn more click on the picture below to read the release.

The Charles Schwab Corporation Anticipates Economic Strength in 2018 - Read More from Charles Schwab

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