Topics regarding layoffs at Charles Schwab Corp.

Topics regarding layoffs at Charles Schwab Corp.

Cash flow problem?

Is Schwab having a liquidity problem? Earnings last quarter say no, prior quarter say yes… client here that cannot access monies…you tell me why? Account issue remains unresolved despite promises

Stupidest thing to do

I would also like to receive a package and then find something better. However, I still don't think it's a good idea to provoke the management in order to increase my chances of becoming a target, and I know several people who are doing exactly... — read more 

I would love to be laid off

For several years working here was nice for me. However, the constant changes that are happening have started to bother me and now I would even like to be laid off. Moreover, I don't think there were ever so many people at Schwab who are expecting ... — read more 

Layoffs planned for Q3

Rumors of layoffs planned for Q3 are circulating. I know this is stressful for some, and may cause unwanted side effects, such as losing hair. If that is you, then I have good news. Rogaine. Easy to use and apply the topical solution to the... — read more 

Too many contractors

It made me laugh when I read someone's post saying that contractors outnumber full time employees at Shwab... But then again, when I think about it a little better, maybe that's not so far from the truth? Shwab definitely has no hard choice between... — read more 

Praise Be!

Per the email yesterday, it looks like Schwab isn’t going to sh-t can anyone until at least 2023. Praise be!

I hate RTO!

After Musk's tweet, I hope Walt doesn't get inspired to push full 5-day RTO. How's your RTO been till now?

Attitude Change Required

Employees matter, but he clients matter more. That’s why the business exists in the first place—to serve clients. You work for the company, they don’t work for you. You may be entitled and have the attitude “well I’ll just go somewhere else, it’s an... — read more 

Hey STS

Who is in charge of the Career Progression dashboard? Can someone please look into getting it fixed please? The data has been out all quarter. Oh and there’s a spelling error in the word difference, on the core rep snapshot. The data is super helpful... — read more 

SCHW Overweight

This is problematic: CNBC -- https://www.youtube.com/watch?v=0TksSR7r0qg

This integration is being sabotaged.

Certain blue technology leaders want this integration to fail and be able to point the finger at green. That is obvious by the amount of “help” their teams have been in integrating these systems. It’s not about the client or the best technology... — read more 

In case there is not enough stress...

Working here is stressful, Schwab is very demanding. I almost got used to all that stress after working here for many years. However, what is really fascinating is how Schwab makes stressful even those things that don't have to be that way, and... — read more 

May 3 2022 Corporate Call Nonsense

a few nuggets from the corporate call today: Walt said WFH and workplace flexibility is not permanent! Katie Casey said that compensation is based on "cost of labor" not "cost of living" and that everyone firm wide got 3% merit increases in March... — read more 

Major layoff in May

Based on the reality of the Q1 earnings, there will be planned layoffs in May. Second week. No severance package. At least 1400 to be cut. Mostly STS.

Working smarter

"Work smarter, not harder" - this is just another empty phrase that everyone uses. And what exactly does it mean to work smarter? My superior doesn't even want to hear about prioritizing activities, for him everything is always a priority and... — read more 

The place is falling apart.

Our overseas partners have lost write access because ... Germany is close to Ukraine or something; not really sure why. Stateside teammates are losing access arbitrarily because their contracts have expired, though the IQN system says otherwise. ... — read more 

Overworked and exhausted

I don't really care if it's a normal attrition or a mass exodus. The only thing that interests me is what does Schwab intend to do so that those of us who are left would not be so overworked? I can work under this pressure for another month, after... — read more 

Less motivated than ever

I certainly didn’t start to hate this place all of a sudden. I went from being full of enthusiasm and gradually came to a point of zero morale where I am today. It is difficult to work with such morale. How to regain the lost motivation? Perhaps... — read more 

Why hate on the people who're choosing to leave?

What do you gain by mocking people who've decided it's time to move on? This might be a great place to work for some but others are not that lucky. If they decide to leave a bad situation instead of remaining stuck in it and let us know they're... — read more 

The beginning of the end

Quirk out. JJ out. Who’s next? Competitors are ripe to pick up TOS talent right now. Goodnight TOS, goodnight sweet prince, goodnight active traders… see you at Tasty or RH

SCS Leadership

Awful. On so many levels. Everyone is burned out. I’ve never seen anything like it. Direct people managers don’t know what’s going on, upper management is touting themselves as “premier” and building “world class service”. We’ve been hearing for 2... — read more 

Bonus actuals

Former level 58 who left for greener pastures last year. I'm curious how much bonus I would have gotten. I see $30-60k referenced here a lot. What's the actual # that hit your bank account?

Predictions of mass attrition was wrong

Looks like the predictions for a mass exodus was all wrong. Management made a big concerted effort to provide some outstanding retention incentives. First round was in the form a some very large one time bonuses, combined with merit increases. ... — read more 

Impossible to meet deadlines

Unrealistic deadlines seem to have become a common practice at CS. I think that this is a recipe for disaster. I wonder if you are even trying to meet unrealistic deadlines? I'm starting to ignore that kind of pressure. I really don't know any... — read more 

Real employee numbers…

Starting to pull the numbers (available on Schweb) for employees to see how they drop in the coming month… will post here. 2/25 45,186 total 32,412 employees 12,774 non-employees

The frustration is mounting high

I don't expect any special treatment, nor do I want some extraordinary amount of respect and appreciation from Schwab. However, I don't want to work under so much pressure and workload anymore. It's really amazing how much work I have to do. Of... — read more 

No end to incompetence

Dear Simon and Mitch, thanks for basically letting everyone on our team know that we are not valued. You let go the one leader that actually knows anything about their domain. You’re left with the clown troupe. We’re all quitting very soon. Can’t... — read more 

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Schwab Blue Thoughts

Here is an opinion of a blue employee here. I have read many of the issues that green employees are facing and some, if not most of them are shared by blue employees as well. The funny part is that you have not even seen the worst of it yet. For... — read more 

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