*Ameritrade Cuts Jobs Because of Dwindling Online Trading

Share this article:
Ameritrade said yesterday that it expects to cut 230 full-time and 120 part-time positions because of slower-than-expected growth in online trading.


The company said a majority of the layoffs would come from call centers in Omaha, NE, and Fort Worth, TX, which it staffed heavily during the boom in online trading at the beginning of last year. The 230 full-time staffers represent roughly 9 percent of the company's 2,500 employees.


Ameritrade also expects to report losses of more than 5 cents per share Jan. 17. Since the beginning of last year, shares of Ameritrade have plummeted roughly 62 percent to $8.06.


Industry analysts expect other online brokerages to follow Ameritrade's lead because of the slowdown in Internet trading.
Share this article:
You must be a registered member of Direct Marketing News to post a comment.

Sign up to our newsletters

Follow us on Twitter @dmnews

Latest Jobs:

More in Opinions

App of the Week: Visme

App of the Week: Visme

Simplifying the process of creating professional presentations and infographics is Visme's mission.

App of the Week: ABUKAI Expenses

App of the Week: ABUKAI Expenses

ABUKAI Expenses eliminates the hassle of creating expense reports.