Squawk on the Street SOTS 2nd Hour: Job Cuts Surge, Navigating Big Tech, & LIVE: Charles Schwab, Chime CEOs 11/6/25
Nov 6, 2025
Rick Worcester, CEO of Charles Schwab, shares insights on the firm's acquisition of Forge Global and their strategy to open private markets to retail investors. Chris Britt, CEO of Chime, discusses impressive quarterly results and the fintech's growth trajectory amidst a challenging market. Phil LeBeau dives into the ramifications of Tesla's shareholder vote regarding Elon Musk's pay package and examines how FAA flight cuts from a shutdown could affect air travel. The conversation also touches on broader job market trends and tech's resilience.
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October Layoffs Spike After Pandemic Hiring
- US companies announced the most October job cuts in 22 years, signaling rising labor market stress.
- Firms cite technology, restructuring and post-COVID right-sizing as main drivers.
First-Time Buyers Now Median Age 40
- Median age of first-time homebuyers hit a record 40 years, up from 33 in 2021.
- Rising costs, student debt, and mortgage rates are delaying homeownership and equity building.
AI Is Broadening Earnings, Not Just Tech
- Janus Henderson sees AI infrastructure and hyperscalers driving broadening earnings growth.
- They expect AI-driven productivity gains to expand margins across industries over years.