Schwab may soon have to pivot due to the Defense Production Act. Trump will soon order Charles Schwab & Co. to focus all efforts on the manufacture and production of swabs that are needed for COVID-19 testing. Trump think Schwab makes swabs. He is... — read more 

Obtained following draft letter from senior leadership... Thank you for your continued commitment to Charles Schwab and our mission during this unprecedented time. We know that the uncertainty has not been easy, and we are doing everything we can... — read more 

I have good word that VPs have been working on a first draft list of candidates to cut. The directive is targeting a huge 10% reduction from current levels, which is about three times higher than our last round last year, with 600 laid off. Good... — read more 

Let’s take a look at Schwab’s $10 billion revenue breakout for 2019: 60% net interest income 30% asset management 6% trade commissions 4% other, including payment for order flow The Fed took rates to zero. NII isn’t going to... — read more 

Layoffs may come much sooner than expected. Expect mass layoff before end of April. Officers have been asked to come up with initial list candidates to be cut. Rumor floating that they are looking at a 10 to 15% reduction.

There was a post from last night about the interest rates that’s no longer here. Wonder if Walt is stirring the pot with the site admins to silence us.

We got the notification that our RPS All Hands tomorrow was cancelled. Wonder what that means.

I'm in senior management. Expect a layoff coming in the next 2 months. Is this info true? Any more info on it?

Thoughts? Comments? Where is this taking us?

The least qualified people are hired to save money. I do not think they understand that any firm can acquire tech and that the most valuable assets are the tenured employees. It is funny and sad at the same time that they do not realize that hiring... — read more 

Wealth Management Reporter at Business Insider 1w · Edited The $26 billion Charles Schwab-TD Ameritrade is the largest securities-brokerage deal on record. Executives have flagged nightmare phrases like "geographic footprint rationalization" and... — read more 

I think the employee count information has to be released to the public. Do you know how many people work here? How about the overall people count at the main location at San Francisco?

I have noticed several people (4 in the past month) who have started to leave of their own accord. Maybe Schwab is hoping more will go so they won't need to lay off as many for "synergies". This has become a very unhappy place to work.

Well, I’m officially listed as inactive as of today on Broker Check. Anyone else?

Well, I’m officially listed as inactive as of today on Broker Check. Anyone else?

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.

Well, that was unexpected. I assume the combined company will lay off people from both sides. Any news from inside either company?

This thread is for info about potential Charles Schwab Layoffs 2020? Any news or rumors?

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

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 

How do you think this will affect us?

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 

There’s a new hire on my team and someone with years of experience got laid off almost simultaneously. They’re different positions but I’m wondering, how are they hiring still if the whole point of the layoffs is to cut costs?

Are any rumors circulating? I haven't heard anything.

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 

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 

Branch closure in Bay Area

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 

Chime in...

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

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 

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?

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

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 

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

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

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