I'm curious why you think CS is trying to reduce headcount without cuts? What are the arguments? I really don't have that impression, but maybe I'm wrong.
The ongoing quest the take away more and more benefits
From what I heard Friday STS bonus funding will start to see cuts this year with the goal to "restructure" the funding altogether. A certain MD who is retiring within two years told me they think the days of bonuses as we know it are being taken away... — read more
Charles Schwab is a terrible place to work
Schwab is only concerned with their image and perception in the FinTech industry. They do not care about the employees. They want robots that follow policies and procedures to the letter. I am not saying I am perfect, and I am not saying anything new... — read more
Schwab borrows $2.5 billion
Concerning , especially with the firm refusing to address questions about the SEC filing. The high interest rate environment and the held to maturity unrealized losses are continuing to deteriorate the balance sheet and stock price. The question... — read more
CTO Architect position worthed?
Is taking an Architect position with the CTO worth? Thoughts on technical roles at Schwab? What should I expect? Comments about the environment? Just saw some posts about a toxic environment.
Changes CS needs as a priority
It's not the employees' fault, but those at the top that this company has become such a mess. I had a little discussion with colleagues about which changes are necessary to be prioritized here and I'm also interested in your opinion?
What's with the lack of transparency?
I have a better chance of finding out something important that's happening at the company here than from management. That's not how this is supposed to work. The less they tell us, the more morale will go down since people will always imagine the... — read more
Our CEO and executives continue to receive record earnings and stock options
Meanwhile "held to maturity" has destroyed this firm. I guess those rising interest rates didn't pay off like they were claiming? How could the leadership of this firm not be held accountable? Go watch Warren Buffetts latest Berkshire annual... — read more
There was an email out today in retail CS&S. Reqs will be closed. Roles will not be backfilled. What are the latest news from the other organizations ?
computer files off schwab laptop
Anyone figured out how to get files off Schwab laptop? I have developed templates during my tenure (no client or employee information). And I would like to take it with me if I get laid off or if I leave.
For those who have gone through layoff, what was your severance payment like? Any detail helpful.
how’s the process at Schwab? Do they give you advance warning to do a handover to another colleague? or do they meet with you on Friday evening and cancel your computer access on the spot? Pls share from your experience so that we know what to... — read more
Lots of shady stuff going on here
Judging by what people are writing here, it seems like there are a lot of layoffs that are secretly going on. It's a very demoralizing feeling, when one day you find out that your colleague is no longer there and you didn't even know that layoffs are... — read more
Get ready, Simon is going to start
Calling people back into the office. He was very much against WFH as we all know and I just heard Schwab is going to start calling people back. Communications coming end of Q3 with the expectation that most will be working in the office full time by... — read more
Schwab and rising rates
All we heard about over the last decade plus was how well Schwab was positioned to profit when rates started to rise. Now we hear Schwab is taking huge losses because of rising rates How does this happen when they were prepared for it? How is this... — read more
Layoffs coming tomorrow in STS
Some reorganizing happening and letting go of some middle management
JP Morgan buy Charles Schwab?
Negotiations taking place to rescue CS? Another bailout coming?
Charles Schwab’s growing paper losses raise questions for investors
On the surface, Charles Schwab Corp. being swept up in the worst U.S. banking crisis since 2008 makes little sense. The firm, a half-century mainstay in the brokerage industry, isn’t overexposed to crypto like Silvergate Capital and Signature Bank... — read more
internal transfer retaliation
Last year I applied for an internal position, but the position got canceled due to budget cuts. So I stayed in my role. Since then I’ve been sidelined by my supervisor. While my colleagues were allowed to hire, I was told there was no budget. Also... — read more
They could fold off like SVB
SVZb tupe closure possible. Run before you can.
Doubts about working here
After a long time here, I've finally started thinking how good it would be if I wasn't here anymore. When did you first seriously start having thoughts about leaving here and looking for a new job?
Did everyone else who is salaried get very poor raises? Schwab made record all time profits last year and we got short changed. Inflation is rising so much that now I feel like I’m making less even though our workloads are much higher. Now they are... — read more
Schwab stock price takes plunge
Is it the time for us? Is layoffs in financial sector looming over heads?
What are odds for conversion weekend success?
I’m predicting an epic failure. Any chance I can be wrong?
News of Morgan Stanley & Sachs layoffs have been n the news. Anyone hear of Schwab doing the same and when?
Level 57 (non-STS) here and my bonus target is 15% of base salary. Does this increase with career progression as you move through the levels or is it pretty much fixed until Level 60-61?
Considering the amount of work I do and my responsibilities here, I feel quite underpaid. Has anyone asked to get a reasonable raise or is it better to focus on looking for a new job?
401K Benchmarking Exercise - Assistance Requested
I currently work at BNY Mellon. Our CEO recently announced a change to the 401K plan. Currently our company match (max 7%) is implemented each pay period. Starting in 2023, the match will be paid at the end of the year (actually, three months after... — read more
Charles Schwab Layoffs 2023
What's your prediction as it relates to the possiblity of Charles Schwab layoffs? Any chatter, news or rumors?
I just got laid off -- IT
When I took this job 5 yrs ago, I asked about layoffs and was told that Schwab "hasn't had layoffs in 15 yrs." What a joke. I just received my walking papers. I have ki---d myself at this job. For nothing. This has been an overall cr---y place... — read more
There are very few good managers here
Maybe I wouldn't even think about leaving if I had a more competent manager. However, I no longer want to work for a person with an over-inflated ego. Basically, a good manager seems to be a rarity here? Does anyone actually have one?
The final straw to leave
Sometimes it is not easy to make the decision to leave, especially if the other offers are not that much better. However, lately I am more and more sure that leaving is the best option because the amount of work I have to do, the level of stress... — read more
Budget Cuts Coming Up
I heard there will be a 40% budget cut across the company coming soon. Hiring freeze will be put in place as well. Good luck out there folks.
Number of locations closing
Anyone heard a number of centers are closing in 2023? Any idea what areas are impacted most?
Recently after 6 Months of interviewing with various Managers/Directors. I was offered a position. I tried to negotiate the base salary based on the cost of living in the location, I would be working within. With the current rates at 7% and the house... — read more
What's schwabs policy like? Thinking of accepting the offer but want to know how it's handled.
Resignation notice policy?
What is the notice policy if I resign?
No more holidays
Say goodbye to your 2023 Holiday Weekends.
I really thought Schwab was a much better place than it turned out to be. Elsewhere, too, the employee should mostly be a yes man and glorify his manager in order to be more comfortable at his job, but here it's all about over-inflated egos... — read more