Scottrade layoffs since TD Ameritrade buyout now top 1,100

The number of layoffs since TD Ameritrade’s $4 billion acquisition of rival online brokerage Scottrade has eclipsed 1,100, according to new documents filed with the state of Missouri.

In a recent filing, TD Ameritrade notified the state of 256 new layoffs. That brings the total number of job cuts to date to 1,123. Most of those have been in the St. Louis area, where Scottrade was headquartered. Some others have hit Springfield.

Layoffs started in November, a few months after the acquisition closed. TD Ameritrade’s CEO said at the time that up to 1,000 of the company’s 1,800 employees in the St. Louis area could expect to lose their jobs.

A spokeswoman for TD Ameritrade said the company is hiring about 100 new employees over the next few months to staff a service center in the St. Louis area.

Read more: St. Louis Post-Dispatch


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