This is such a heavy org, probably why dysfunctional. Directors with a few people, Directors on Directors and MDs all over the place. With all the RTO and exception fiasco, why isn’t the HR Dept under more scrutiny? How satisfied are people with... — read more
Have you heard what the target merit increase percentage is? Haven't heard anything on those. We were all told 73% of bonuses, but I have heard of 2 people receiving 90% of the bonus. Good luck everyone!
In case you weren't aware -- in typical Schwab fashion of being 10 years behind everyone else, we're in the process of building out an offshore campus to reduce costs. This will be heralded as a cost savings / quality increase measure vs offshore... — read more
This article brilliantly sums up what is happening at Schwab: https://www.businessinsider.com/bosses-quiet-firing-staff-avoid-public-backlash-layoffs-2024-2?utm_source=copy-link&utm_medium=referral&utm_content=topbar
Before the moderator asks the scripted questions that hold no value to actual employees, but exist to give us all the impression that senior leaders are just humble, misunderstood people like us who have had to sacrifice just like us. That we're all... — read more
RTO doesn’t improve company value, but does make employees miserable: university of Pittsburgh Study finds https://arstechnica.com/science/2024/02/rto-doesnt-improve-company-value-but-does-make-employees-miserable-study/
Mostly Green Square redundancy that didn’t get the axe in the previous rounds. I’d love to see the RTO related departures impacts, heard a bunch of people just hanging around to see if they actually do get 73% of their bonus opp. — read more
I hope my PM quits that guy is mentally abus1ve to our team. He causes more problems then he solves. At this point I'm thinking my only option is to report to HR but I don't think they will help. Any tips on what I should do?
anyone else feel like maybe they ate the outside and threw out the cores?
Lately hearing lot of whisper in Advisor Technology . Is something coming in near future , on downsizing side? Feeling bit nervous .
Asking for a frien… er, comrade. https://www.thelayoff.com/t/1n9P0GYN
One of Schwab’s biggest issue right now is employee morale. There is no quick fix for this and leadership seems unable to effectively manage it. There is a level of elitism, fake humility, etc that is palatable. Without broad-based trust the company... — read more
The entire biz model is based on sc--wing over investors that have cash balances in their brokerage accounts (not their bank accounts). How is this doing what’s best for clients and how long can this continue?
73%? They lay us off because of their bad judgement and then want to further short change us in this market? I just found out so even if this is old news, it’s new to me. I’m livid because I’ve always gotten above the funded target and now was laid... — read more
How is this company going to keep running when the remaining smart ones all quit after March 8? We’re stretched thin as it is and it’s going to be he-l when the PM-to-doer ration jumps from 50:1 to 200:1.
When the knee-jerk reaction to a problem is playing the blame game rather than rolling up sleeves to deal with it, the management can't act shocked when the problem becomes unfixable down the line despite our best efforts. Finger-pointing may offer... — read more
I just want to be clear that I’m no fan of Schwab as a company since I was impacted by the layoff. But the messages on here seem quite skewed because they cannot always be relied on. The anonymity makes it so we cannot always trust what we read. .. — read more
Answer would be ALL , that is final answer. As given scenario , Schwab cannot nuke everyone in single instance. If forum wanted to name BEST among Worst , and Worst Among Worst and everything in between , What are those names?
I got my severance, you can hire me back now!
there will be another round of layoffs. They will be labeled as achieving post TG synergy targets. Unfortunately, the EC has already announced twice in the last year that the reduction in force due to integration of TDA is over followed by Walt... — read more
Anything, but don't expect an answer for everything.
What is the bonus% for the laidoff? Any news?
I can tell you that the plan is to deny all of the full-time WTH employees in May when they are forced to reapply. Schwab doesn't care one bit about employee work life balance or their happiness or even their engagement. The only thing that matters... — read more
A huge portion of my team is remote, including my direct manager. The reps impacted by RTO were told that reps in the remote positions would not have new roles opening, and not have the same level of career growth. A new manager position has opened... — read more
Now is the time. Let's take this board to the survey and tell how great a workplace we have. Lol
I’m tired of these terrible phone systems. I’m tired of taking calls for departments that aren’t mine when I’m supposed to be a highly specialized department. I’m tired of talking to ancient people who scream at you when you try to answer their... — read more
Couple of days back I came out of call where MF people pretending to java, and still working on MF. team located in CO, TX . Then I came to know they are migrating there application from last 7 years. If migration is happening for near decade, why... — read more
What is the deal with the phone system? Dealing with upset clients all the time due to tech issues is the last straw for me
I am just curious , if Schwab have more employ Post TDA merge why Schwab not reducing contractors ? Why they are opening project for outsourcing when they can do in house.
I was given an opportunity to submit feedback in a more free form manner (this was not the Glint survey). I had to disclose my business unit before filling out the survey, but not my immediate team or location. I was very direct with my feelings... — read more
Will we see a wave of resignations when bonuses hit accounts?
Just wait. Announcement soon.
Interesting "Fidelity Investments blew the doors off 2023, with a leap to $12.6 trillion in assets administered and a bound by 12% in financial firm revenue to $28.2 billion – a cool half billion a week, according to its annual report released... — read more
Surprisingly, for me, it's not the layoffs. It's having to deal with a micromanaging boss who has no idea how to do my job but still thinks he can do it better. It's driving me insane. I often have to do things in a suboptimal way because of his... — read more