Topics regarding layoffs at Charles Schwab Corp.

Topics regarding layoffs at Charles Schwab Corp.

Medical Accommodation Duration

Hello , Looking for advice/ recommendations from folks who have successfully got medical accommodations approved for 1 YEAR I’ve seen my PCP and complained about stress , anxiety , depression related symptoms when it comes to commuting to office ... — read more 

Found this on a glassdoor review lmao

Thank you for your review! We encourage all Schwabbies to work with their manager on solidifying a strategy for career growth, development, and knowledge on how to build your career across different areas of the firm. Your individual development plan... — read more 

Bit concern do anyone have insider information?

Is there more cut expected for team mentioned below, some my close friends work in this teams ? They work on Legacy side (mainframe, .net, etc) Following are teams where they are involved. CAM Tools Support O2 CAM CAT I Know name of... — read more 

Schwab is losing its reputation as a good employer

When I joined a few years ago, this was a place with a good reputation and I felt lucky to have landed a job here. That's gone now. Potential employees are now reconsidering because of the management's propensity to go back on its word (RTO) and... — read more 

Fortune 100 Great Places to Work

At my new employer, and the internal site celebrated that we are #4 on the Fortune Top 100 GPTW. I pulled up the List, Schwab was nowhere to be found, BUT who was? Bank of America Edward Jones …and The Cheesecake Factory Wow, when Schwab is not... — read more 

Who was cut?

Somewhere near the beginning of March some layoffs happened under the radar. Some of you have mentioned this. Can anyone confidently tell me how many and in what areas?

Executive pay

Correction - the executives received cash bonuses - not sure how they can sleep at night knowing the mess they created and the lives impacted.

Executive pay on 2024 proxy statement

Latest proxy statement is on the Schwab website. I can't quite understand how any of the Executives got a pay increase. Although none received cash bonuses they were certainly compensated well in stock and options for one of the worst years. I... — read more 

To RTO or Not

Anybody get any emails or talking to yet about RTO? I have made it 3 months and haven’t done a full Mon, Wed, Thurs yet due to vacation, sick, holidays, weather, etc.

Issues Ahead

Charles Schwab is reported to have liquidity problems. Also look to the efficiency ratio in the filings April 15th. The workers will pay with their jobs.

Notice vs Quit

Anyone know if the company will fire you if you put in your notice. I’ve heard that happen to people I’ve talked to. Don’t know if it would be in their best interest at this point to pay the unemployment.

Can't wait for the antitrust lawsuit to begin

https://www.thinkadvisor.com/2024/01/25/schwab-td-ameritrade-antitrust-lawsuit-lives-on/ Ha Ha Ha Ha Ha. Explains why Schwab was so eager to get rid of the TD employees and to destroy any chances of having to rebuild the TD platform. Hope they get... — read more 

Character as----------n

Feels that way to my paranoid self. Can't get a callback or interview in 5 months despite literally being the golden goose for so many years. Hurting me is one thing, but my family is innocent. I'm sure this is just me overreacting to a stale market... — read more 

Another round of layoffs coming in June

Not sure if anyone heard the same, but from my view point the writing is on the wall. Frozen consultant HC, weird vibe all around. Did anyone hear anything supporting or implying June date?

Employee morale is at its lowest

Overworked ,underpaid and lied to by my manager. I feel sorry for our clients, employee morale is at lowest I personally have ever seen it, this includes layoffs during tech bubble/ 9/11 and 2008 recession. Rto is one thing, but the lies and smug... — read more 

EAC

Does anyone else feel misled about the Employee Advisory Council and its purpose? Rick keeps repeating they want to give context for decisions made by the EC... our initial impression was that EAC would have some sort of input on decisions. Also... — read more 

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| 1560 views | | 5 replies (last March 26, 2024)
Post ID: @OP+1rHVDFZ9

Layoffs this year?

Anyone hear anything about layoffs this year? On the tech side they are wrapping up the transition of TD.

Not an employee, am a customer.

So I got a call this week that both my wealth advisor and my local branch rep were no longer with the company. Both let go. I was assigned a new local guy (very young) and a wealth advisor (really young) who has only 5 years in the business and only... — read more 

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| 1820 views | | 12 replies (last April 18, 2024)
Post ID: @OP+1rGvjl5s

Help me understand please

Can anyone help me understand in layman's terms how we're evaluating the "poor performance" of the company or the need for more layoffs? I believe we're doing poorly, but I don't understand why and the EC seems more apt to protect themselves/avoid... — read more 

Texas Unemployment

Hi - Was anyone else denied unemployment until after the severance end date? Example : Last Day : Jan 1st Business Days of Severance : 60 So they've been denied until one week and 60 business days?

Finally sold stock at $70

Probably better investments out there. The dividends are not great and I don’t have faith in the company in terms of growth.

RTO for Off shore/ contractors

Manager just made the announcement yesterday that all off shore and contractors are going to be in office 5 days a week with no exceptions. Anyone else heard this news as well? This could be a sign that full time RTO is around the corner.

Toxic Mgmt

Is it just me, or is mgmt being even more toxic, passive aggressive, and micromanaging lately? It’s almost like every week something new gets announced with another way for them to tighten the grip on us. Is it just my dept or everyone else too? — read more 

How to interpret raise %

Blue side, PL, decent tenure. Received 1.9% raise for 2024. Met expectations. Should one take this as a signal that they're not wanted here and move on? Generally have a strong relationship with manager. Shocked by low raise compared to peers... — read more 

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| 1700 views | | 11 replies (last March 20, 2024)
Post ID: @OP+1rzhKW9s

For the Laid Off Consider Moving 401k to IRA

For those who were laid off. I learned you may want to move your 401k to an IRA in case you have to tap into it at some point. You won’t have to withdraw the whole thing like you would your 401k. You sill have all of the penalties. You have to... — read more 

This was a different company just a few years ago

Could you have imagined we'd be where we are right now just a few years ago? I couldn't. I loved my job. I'm not exaggerating, I literally loved my job. And today all I can think about is how to get away. It makes me sad how easy it was for those... — read more 

I’m out

Just submitted the paperwork and it’s a relief. Bonus and bail. I’ll miss some folks a lot but this has been needed for a long time.

How is your workload?

It's been long enough since the last layoff to know how much it impacted your workload. Our team only lost one person so it hasn't been too bad, but I know teams that have been halved that are now really struggling to keep up with work. What's the... — read more 

Friendly advice

There have been a number of posts here about layoff struggles and hundreds of applications. As someone who has been through layoffs and on both sides, please step back. Everyone laid off has had pay until this month. Every single one. Two months... — read more 

How Layoffs Change Lives…

I was a high performer. I’m writing this to let those of you who make the decision to lay someone off at any company know how your actions impact lives because many of you are privileged and have never been laid off. I honestly don’t believe most... — read more 

Mourning TD Ameritrade

I’m sitting in my car crying. I never thought I’d carry the grief I do for a company. Maybe it’s just because of the sh*t storm I’m currently in. We had each-others backs at TD. If there was a single goal we all had in common it was resolution. We’d... — read more 

Leaders Who Need To Go and Why

Besides the obvious executive team... S.A.T. self-centered, narcissistic, very unqualified for role F. Agile wizard of nothing

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