Charles Schwab Corp. Layoffs

Topics regarding layoffs at Charles Schwab Corp.

What will happen: AMTD & SCHW Merger

I work for TD Amertirade and I wanted to see what Schwab employees expecting to happen as the acquisition is executed. Not sure if you’ve done things like before and if there are any patterns. Any info is welcome. Thanks.

by
| 568 views | |
Post ID: @12dKtdmN

Relationship manager job losses?

Just wondering if anyone's heard anything about cuts to the relationship manager role, anywhere, especially for RIAs?

by
| 245 views | |
Post ID: @11Y9aCZn

3rd rate cut, more layoffs ahead?

Yet one more rate cut today. Anyone have any info as to future layoffs? I assume there won’t be that Christmas cash or stock bonus like they did the last two years. I assume everyone saw the Forbes article mentioning Chuck gave at least 9 million... —  read more 

by
| 894 views | |
Post ID: @11MJekqo

How’s everyone coping with the layoffs?

I’ve gotta admit I have spent the last week day drinking and eating pizza and burritos. That isn’t healthy so I know I need to snap back and get my life in order. I’m still in shock, I’m glad I got my sabbatical in at least before the lay-off. I... —  read more 

by
| 1903 views | |
Post ID: @11dPxLYS

Charles Schwab Perks & Benefits

Insurance, Health & Wellness Health Insurance Dental Insurance Flexible Spending Account FSA Vision Insurance Health Savings Account HAS Life Insurance Supplemental Life Insurance Disability Insurance Occupational... —  read more 

by
| 1662 views | |
Post ID: @119PSPiK

Layoffs are painful - but a fact of corporate life!

From what I can see, a large number of laid off people have been with Schwab for 20+ years, were making big bucks (>$100K/year and some were making >$150K/yr), and were probably over the age of 50. This strategy is no different from previous Schwab... —  read more 

by
| 2552 views | |
Post ID: @118aRI8S

There are available alternatives

There are still some places that respect their employees and treat them like human beings and assets, not like objects and costs that need cutting. Schwab used to belong to the first group but those days are long gone. One of my former coworkers... —  read more 

by
| 1416 views | |
Post ID: @1182vCSE

SEntry team was layed off

SEntry team was entirely layed off. Really sad. Say good bye to the Java and C based SEntry client libraries.

by
| 672 views | |
Post ID: @118YNJwd

Keep an eye on the jobs site

The VP of Trading Experiences told everyone in the DS All Hands today that he laid off 7 POs this week, mostly from TX. (he said that's about 42% of the team). He then asked if anyone "knows any rockstars" in Chicago, because ALL seven positions are... —  read more 

by
| 1683 views | |
Post ID: @117W4z6E

How long will the layoffs go on?

I'm not naive to believe that layoffs are going to stop at some point. I'm simply wondering how long are they going to continue at this tempo? Can we expect the layoffs to, at least, slow down any time soon?

by
| 1147 views | |
Post ID: @1171WyW3

Phoenix Layoffs

Any idea for the total in Phoenix? I'm being told over 60, but this is speculation.

by
| 1493 views | |
Post ID: @117fUNGm

Another round of layoffs in Q1 or Q2?

Word I heard today is that the feeling is that Schwab will indeed have another round of layoffs in Q1 or Q2 unless the rates magically rise. Given the climate, that seems impossible. Schwab hitched their wagon to the idea that rates will normalize... —  read more 

by
| 2212 views | |
Post ID: @117QLPw6

How do they do it?

Can someone please confirm how employees are notified they are being laid off?

by
| 1481 views | |
Post ID: @117vNciL

Total cut by geo-location

I don't have number for all geo-locations, notably Orlando, but this is where we're at today: SF - 40 Lone Tree - 95 Chicago - 25 Raleigh - 5 Austin - 61

by
| 2676 views | |
Post ID: @117f10Bh

Schwab culture has changed for the worse

I work there and i have seen it with my own eyes. They dont care about their employees. They make that painfully clear every day. They keep outsourcing and laying off people, yet the work remains the same and their employees have become burnt out... —  read more 

by
| 1811 views | |
Post ID: @1179gbF8

Is The Purge Over?

With JC’s email about Realigning Retail is The Purge finally over or will there still be more layoffs the rest of this week?

by
| 1425 views | |
Post ID: @117J6ath

Coaching memo

I got a coaching memo around the beginning of the month and dated to the end of this month, any idea what is going to happen? especially with the coaching memo folks? are we next to get laid off?

by
| 1004 views | |
Post ID: @117Cm1QV

Thoughts on this being TK?

Not gonna lie, seems like everything a particular EVP did is being undone as the first wave. FED lowers rates again may or may not be factored into the 600. EC in Indy next week should be uncomfortable... especially in the parking lot that can't... —  read more 

by
| 1774 views | |
Post ID: @117bGIlE

Lay offs California Schwab

Shame on you!!! You have laid off senior employees that have given their heart and soul! You have chosen poorly. You also have not thought of your clients. I would like to walk into a branch seeing a familiar face. Not only young people who do not... —  read more 

by
| 1922 views | |
Post ID: @117ki330

Sad

Today my father who’s worked for Schwab for nearly 30 years got laid off. It’s really heartbreaking because he’s spent the majority of his life with this company. For everyone who lost their job today, I’m so sorry and I feel for you.

by
| 1350 views | |
Post ID: @117eS2Ud

UOP

So glad I spent the last 3 years “unleashing my potential”. This has been the most depressing, demoralizing, and sad day.

by
| 1273 views | |
Post ID: @117jNgQz

Will there be another layoff within 6 months?

Since the FED has now lowered the interest rates today (.25), and this reduction of 600 employees was noted as necessary several months ago, do you think management will prepare for another round and this time, not let it leak? I have already heard... —  read more 

by
| 2019 views | |
Post ID: @117vHXUX

Branch Network

Anyone else in a branch? I’ve seen 2 from our area let go, though I’m sure there are a few more I haven’t heard about yet. No FC’s (so far at least)

by
| 1253 views | |
Post ID: @116Fd3Do

What’s the count of laid off people today?

It’s probably not possible to reach an exact number of the people that were laid off, but I was hoping that people could post how many people were laid off at their location and that, in that way, we could reach some kind of a frame number of... —  read more 

by
| 3257 views | |
Post ID: @116aCdNo

Start a new thread - post a news comment, question or message:

: