They keep saying end of year. Do you think they’ll really wait till then? Seems brutal to make people lose their jobs during Thanksgiving, Christmas, Hannukah, etc.
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I can also attest that TD or green side are really great people. But I don't think their business model could survive in the zero-commission trading world.
I do feel that the creation of monopolies and conglomerations is making the world a worse place though. When customers have fewer options to pick from the corporations usually do very scrape the bottom of the barrel things and no one can really do anything.
@3zol+1nOsJhe8
No problem. I was a little concerned with how I interpreted it and that you are working in financial services but now it makes sense lol
And apologies to MY original post re share price…… not TD low share price, but Schwab’s current low price. Truth is I have now worked alongside TD employees for awhile now, they are well trained ,knowledgeable . Schwab did them a disservice acquiring their firm. Also, very well aware of how stock splits work, I should have been more clear when stating low price.
If they do I hope that no one goes crazy and pulls a Cousin Eddie from Christmas Vacation movie... That will probably get you a lot of jail time.
correction on my previous post Share price can reflect how well a company is doing but a company isn't doing better than another just because they have a higher share price. Read up on stock splits if you don't understand this.
@3fxv+1nOsJhe8
Have you maybe thought that the share price is low because they split the stock to keep it affordable? Share price has nothing to do with how well a company is doing.
Here’s a thought for the EC, and upper level management. The salaries , I am lookin at you $24 mil per year Walt..are ridiculously high, and unjustifiable. What the heck have you done but run this once great company to the ground. Buying TD was a bravado ,and yet quantifiably stupid move . (Share price ridiculously low compared to other brokerage firms).But maybe in a gesture of actually seeming to care could forego their bonuses. Those employees that “get “To stay , and work the jobs of two people now, would really appreciate the gesture. I am going to bet that SCHWAB will NOT be on jd power best place to work list for the next few years.
OF course they can/might/will layoff at the HOLIDAYS - do you really think they care. Gotta close the books at year-end looking good so EC gets their bonus - they are shameful and will do whatever needs to be done to make sure what Walt said on the earnings call last week gets done
Where do I sign up? This place has caused me so much stress, impacting every part of my life - that If they are looking for volunteers. Let me know.
EAP said this could happen to me !
After what they have pulled I wouldn’t expect anything less
No, you are still entitled even if you find a new job during that period. This is laid out in the severance policy on MyHR: "you may resign during the 60 day notice period if you obtain an outside job...when you voluntarily resign during the notice period, Schwab pays you the remainder of the 60-day notice period base salary in a lump sum, and you're eligible for the additional severance benefits..."
If you get let go, then you find a job before 60 days are over, are you willfully leaving and thus, giving up all your severance? I believe you have to notify when you get a job if it's during the 60 days, so unless the replacement is a kick-a$$ job, what would be the reason to give up the severance?
Yeah it's required. You can look up the current active WARN notices in your state. They have to report when they told people and the # impacted.
https://www.dol.gov/agencies/eta/layoffs/warn
Nah it’s happening way sooner. Before October. Probably starting tomorrow or next week.
How will laying people off at end of year help with stock prices?
They will do anything for the stock price. They've done it before and they'll do it again.
How do you know it’s starting now? Are you hearing about people around you getting laid off already? Nothing in my org yet
Why the 60 days? Is it regulatory?
It's starting now. Maybe some people will trickle into year end territory, but the vast majority will be laid off soon because they want to incur these expenses in 2023 and not carry that over into the next year. As soon as they let you know you are laid off there is a 60 day clock and at the end of that you are officially terminated. So they will want to start that clock for the majority of the population asap.