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.

To start, I'm not the speculator that has been posting for the last year predicting layoffs every month. I'm hearing the next round is likely coming in February. I won't claim this as definitive, I just want to share what I've heard. We all know... —  read more 

This place was once a great place that valued and respected employees. Now it seems they do yearly layoffs.. and during a pandemic??? That shows how much they care about their people.. glad I got out in time.. what a joke.

How will a possible increase in Capital Gains Taxes affect the investing clients of the combined companies after the merger?

Who here DID NOT expect layoffs after the merger? It’s ALWAYS expected when such transactions happen. I feel empathy for those affected regardless what side it occurred on. Complaining about who was affected more is a moot point. Everyone should have... —  read more 

Layoffs are coming. That's a fact. You worrying over it will change exactly nothing. Instead of stressing yourself into needing medication for high blood pressure, start preparing. Send out your resume, spruce up your LinkedIn, see how you can reduce... —  read more 

Adding that layoffs and related steps are “the nature of combinations like this,” the CEO said Schwab is “going to look to make every decision we can based on... https://www.thinkadvisor.com/2020/10/28/schwabs-bettinger-more-job-cuts-ahead/

Who is Schwab connecting folks with to help with getting another job?

Somebody was kind enough (thanks @hzh+17DF6acy!) to share detailed info on the severance package. Pasting that info here to be more easily accessible: It is 10 days of severance pay per 1 year of services, capped at a maximum of 200 days, which... —  read more 

Quote: We understand that each of you likely has questions and wants some level of certainty about your future role. While we don’t have all the answers right now, we can share that after this week, **no additional company-wide reductions will be... —  read more 

https://www.cnn.com/2020/10/26/business/charles-schwab-td-ameritrade-merger-job-layoffs/index.html

I'm a client with Charles Schwaab and I am interested in how merger will affect us. I have some concerns. Can someone give me a useful insight on how merger can negatively impact customers and what to expect?

For veterans of the industry who may have been in these circumstances before. You can definitely tell Schwab is not prepared for an acquisition of this scale. Poorly organized, poorly communicated and just flat out chaotic. What positions were... —  read more 

However you feel about the layoffs, rate Schwab on GlassDoor so potential future employees can benefit from your experience. Help them make a good decision about whether working for Schwab is right for them.

For those that got fired, how’d it go?

Or are we the only screwed party?

Two years in a row massive layoffs heading into holiday season after promises of being solid financially and committed to their employees. All after constantly telling us no layoffs are coming. Schwab is creating a culture of fear. Nobody is happy... —  read more 

I was let go in June with only a one week warning at Charles Schwab after I was lied to and lead to believe I'd have a position until September. I had a newborn son to feed plus to make matters worst I had a close family member die from cancer and... —  read more 

Schwayoff season is here! Just in time for the holidays and spiking COVID cases. I thought we we're a Schwamily? Families don't just kick out hardworking people to save a few bucks, especially during a pandemic. I just can't believe what I'm... —  read more 

Well, as you probably all have heard there were more Schwayoffs today, all to (former) TD Ameritrade employees and none to Schwabs. This is some Schwamily they are making. I know things will be alright in the long run, but I feel betrayed. Was TDs... —  read more 

Schwab is doing good still people are predicting layoffs coming from last march month? Why, please share on what basis you are predicting or it is Layoffs anxiety only?

It looks like TD’s ex-CRO landed at the C-suite at Google. What a huge waste of talent and missed opportunity for Schwab!!! Instead of upgrading the senior talent in Corporate Risk, the old guard will continue with its useless bureaucracy and... —  read more 

It was revealed in an all hands that they are considering selling off RPS.

LD1 happening during 1st week of October, 10/5 ~ 10/6, turned out to be very accurate. What about the follow up prediction of 10/27? Anyone have anything new to share?

Anyone hear when the merger is happening?

There's a possibility, albeit small one, that layoffs may not occur until November, irrespective of whether LD1 happens in October or not. As imminent as LD1 is, it's still possible layoffs may be pushed out another month.

Legal Day 1 is anticipated to happen during the week of 10/5. Plans for layoffs have been moved to 10/27. However, this is subject to us getting clearance from regulators by that timeframe. Typically those decisions are done at the beginning of... —  read more 

So, it’s September 17th now and it’s the one year anniversary of the 2019 layoffs which occurred on Sept 17/18 last year. As one affected, it s—s more now than it did last year since no one knew what Covid would bring and the once booming economy... —  read more 

Are layoffs happening or not?

Layoffs confirmed for 9/22. About a 7% reduction in staff. STS will be impacted the most.

I see many opportunities on Schwab Technology area.

Frankly, it'd probably be a good thing for me. I've been wanting to leave for a while now but I'm too chickenshit to actually pull the trigger. Being laid off would take the decision out of my hands and give me a nice safety net with severance so I... —  read more 

I'm the poster that mentioned Legal talking with outside counsel and gave more details with the two waves. Don't have much more information to provide, besides the TDA merger is immanent, and should happen in a few weeks. Regulatory approval is what... —  read more 

Does anyone know what the severance package was last year? Rumor is that companies like to do mass layoffs before the end of a quarter, hence last year was 9/16.

By deferring a week of payroll, the company is saving close to $40M by moving us all to the bi-weekly payroll with a week in arrears.