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 

With TK gone and all the money wasted on UOP let’s hope DBC and Cannon with its make-believe “CWS” designation were also given notice

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

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?

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 

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 

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.

Never forget that you're not a soldier fighting for a cause. You are a mercenary fighting for pay.

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

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 

Everything I read, hear, and see.... the numbers still don't add up to 600 to date. Am I wrong?

Post here if your department was given an "all clear" for layoffs.

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)

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 

If you are critical of HR and Management they will delete your posts here - this site is totally controlled by Schwab's management!

https://riabiz.com/a/2019/9/18/head-of-schwab-private-client-is-apparent-casualty-as-charles-schwab-slices-100-million-in-expenses-by-pink-slipping-600-staff-in-face-of-interest-rate-time-bomb

Any impact???

https://mobile.twitter.com/thelayoff/status/1174347858188754945

Don't get fooled by the "Schwab Culture." You will always make more money and remain more competitive by moving between custodians every couple of years. It's been made VERY clear that tenure is not respected by this corporation.

Today is supposed to be a big day. Creating thread for people to post updates as they happen in each geo-location. Good luck all!

guys it’s too quiet has anyone heard anything new either reorg or layoffs

I plan to come home and walk my dog. Eat lunch with my husband. Do some outdoor work. Hang out with the kids when they get home. Make sure they do their homework. Make a nice cheese plate for dinner, paired with a bottle of wine. Maybe take the dog... — read more 

Who else feels like people in their late 40s and above have been disproportionally targeted by these cuts? Shouldn't that be illegal? Is there anything that can be done about it?

Someone questioned how laying off 600 will save the company money.... MDs and TDs typically make average $200K base, not including bonus at least 15%. Factoring in a mix of Senior Managers, Senior Staff and other grades, this estimates out at 600 X... — read more 

My dad was laid off by Charles Schwab yesterday. He said the severance package was fair but he is still severely stressed out about finding a new job, especially since he is in his fifties and the entire industry seems to be in shambles (his... — read more 

If I got this right, some people already found out yesterday they had meetings scheduled with their VPs for today. Does this mean that if I didn't receive such notifications, I am safe? Or should I still be worried that I might be... — read more 

Remember that you can only control what you can control. The die has already been cast. 97% of us are fine for now so your odds are looking good. Don’t go around moping or not helping the clients you will only put yourself in a worse position. Keep a... — read more 

It’s so tough at the office right now. The atmosphere is nearly unbearable. Watching offices get cleared out today after VP/Managing Director level layoffs was tough. Yesterday Senior VPs were let go and today they were already erased from the... — read more 

Is there any way we can determine that? What numbers of laid off people are talking about in this round?

Hope this helps, I’ve just realized it myself. If you click the blue "ACTIVE" button right above the first thread on this page you can see posts that recently had replies. Don’t know how I’ve missed it, it’s pretty visible.

I honestly don't see how letting 3% of the employees go can drastically save the expenses of a multi-billion dollar company, who also happens to be building campuses and buying segments of companies, especially if they're cutting across all pay... — read more 

Hearing rumors of a round 2 depending on another rate cut?

I imagine that by knowing the people at affected locations had a good look at the way the layoffs are performed. So, I wanted to know a little more about that. Are there certain types of employees, certain age groups, pay grades etc, that are... — read more 

Any word about layoffs occurring in Raleigh?

Letters have begun being passed out. So far SPC and AS sales reported to be affected