The latest round of layoffs has got me thinking about my future at Schwab and it doesn't look too bright. With layoffs now being a constant threat, I think it's time to consider moving to a different company. I'm worried about being able to find... — read more
Topics regarding layoffs at Charles Schwab Corp.
This company is so horribly non-transparent... After the cuts of these 75 people, can we now be relaxed and believe that there will be no new layoffs until August?
I'm still safe, but no one in this company can feel very safe anymore. I would love to hear from someone at STS here to get some details about the layoffs. Did they choose the best and the people with the most experience or did they give layoffs... — read more
There are more and more rumors about layoffs, but there are not many insights about who will be the target? Any thoughts? I don’t worry much because I’m prepared, and even if I get laid off I would avoid the ridiculous RTO plan. On the other hand, I... — read more
Why does leadership feel like it's okay to tell TDA teams that they're aggressively hiring (especially in tech) as they continue laying off thousands of people? They have so much work but we sit here with nothing meaningful to do. Does anyone at... — read more
Do not work for Schwab. Command and control environment. Take the package and run.
Masks not required on RTO while sitting at your desk. We are not planning on modifying the the office layout. WTF.
What divisions are Tier 2 & 3? I think compliance and AML are the only two I’ve heard about.
They are coming, a few different groups will be involved. Ongoing layoff planning for every quarter, the second Monday – Feb 8 happened, May 10 coming, look for similar in August and November all the way past CD1 in 2023.
Has the manager found an effective and super ingenious way to continue to micromanage you even while working from home? Mine has. It's amazing really. I thought that working from home I would be able to take a break from him since creates abnormal... — read more
What’s happening with the Omaha TD headquarters? Do we all move to Lone Tree?
Many years at Schwab... That feeling can only be understood by those who have also been here for a very long time. Sometimes I think I could have done a lot better if I hadn’t stayed here that long. Sometimes loyalty is generally forced. That loyalty... — read more
This RTO plan is c––p. Why do I need to be in the office 90% to do the same job I’ve been doing from home for the last year?
Changing a are underway. Share what you are hearing, please
Is any one else's org deferring all promotions until the axe drops? (Is anyone else's VP using the layoffs to encourage their employees to take on more work and more responsibilities without changes in title or pay, while using layoffs as a very... — read more
Does anyone have any info?
March 31st passed and no return to the office notices were delivered as predicted in an earlier post (https://www.thelayoff.com/t/18LESEfH). Does anyone have any new information? A lot of financial institutions are aiming for June. I imagine Schwab... — read more
Man, that joint call we had with anonymous Q&A was comical. It was very clear which side wrote each question. I'm w/ Schwab, but I now report up to a TD person. Really hoping to not get canned, but I guess I have no say in the matter. I look... — read more
After many years of working at CS, I think I would like to move to a much smaller company. I used to be proud to work here and build a career but lately CS and all of its elitism has become so tiring to me that I can’t wait to leave. Why am I not... — read more
And just like that Q2 is here, and we are all on the potential chopping block once again. Does anyone have any dates for the next round? Will it come with the HR consolidation?
TDA update call, cuts every qtr. from now till who knows when. Probably till full integration. I think if they asked for volunteers, they’d be overwhelmed with the response! But they’d also lose the more tenured and top performers. So, don’t think... — read more
Take this with a grain of salt, but there is a rumor that the Schwab Denver cafe will no longer serve spaghetti when we go back to office.
Don't get lulled into complacency. More layoffs are a guarantee. Yes, we might be safe this week or the next but that won't last more than a few months. This leadership is trigger happy when it comes to layoffs and I think we can all agree it was... — read more
Funny that Neesha was talking about addressing Schwab.com outages right when the stream cutout 😝😝😝
What do you all think positive or negative? Sure it aligns with most of the industry but I think its going to be confusing at least for a while. So basically 60 and 61 people leaders all have the same title and VP all the way up through SEVP have the... — read more
the needful must be done
Anyone who posted a question ahead of the All Hands call actually get their questions answered? Just a bunch of execs blowing smoke up each other's a$$e$,
I thought they were done with cuts, but I keep hearing there were more today from different people. Is this true?
Charles Schwab lays off hundreds more following big merger Charles Schwab told the San Francisco Business Times on Monday that it has laid off about 200 employees, but declined to say what geographies or roles were hardest... — read more
https://www.wealthmanagement.com/industry/schwab-acknowledges-poor-service-advisors-suffer The full article is copied but this quote near the end says it all, “This whole acquisition has been a financial synergy and shareholder value play; it is... — read more
I am just thinking this would be good idea to have for Schwab. Disneyland is have trouble with attendance right now and cannot even get a single person into it. They will make rides based on stocks and money. What kind of names for the rides do you... — read more
Seriously? Kicking an extra $30M to fund the pool to only 90%. What a joke. This company spent $20B+ for Ameritrade, but can’t kick in a few extra dollars to fully find the bonus pool. Give me a break.
Just heard from a reliable source that Schwab will be issuing 60 day notice at the end of March for employees to return to the office. That seems rather ambitious considering it's probable that high some high-risk people will be still waiting for... — read more
More media coverage.. Not good... Massive layoffs from the Schwab-TD Ameritrade merger have snared many former employees in non-compete agreements hindering their ability to find jobs... — read more
The estimate is about 2k will be laid off in January February 2021 time frame. Business units have been quietly telling employees for weeks to prepare. It will be bigger than September 2019 layoffs. It is absolutely happening.
Thoughts? Any Charles Schwab Layoffs 2021? Any news or rumors?
Next round of cuts is confirmed for February. Looks like the 3rd week, with tentative target date of Feb 16. Expecting major impacts to STS, as we further consolidate.
Any rumors how the branches will be affected by layoffs? 2019 layoffs affected some branches but not all.