https://www.wealthmanagement.com/industry/schwab-acknowledges-poor-service-advisors-suffer
The full article is copied but this quote near the end says it all, “This whole acquisition has been a financial synergy and shareholder value play; it is not about the people at the company".
Are CS people Charles Schwab people, or computer science people?
It's not just recently. For weeks now whenever I log in to the web site I get a message stating that there is an elevated number of calls and to expect longer wait times.
Doesn't seem like they can hire CS people to answer phones.
LOL at the jackass calling other people sad for calling their bluff while still manipulating votes that disagree with their fragile opinion. They can't back anything up to counter so instead they've resorted to ad hominems. This post will have -6 in T-minus...
Wow. You got some pretty impressive increase in compensation there. All that says to me is you were underpaid, probably an under performer.
@jsu+193kjxvm and @ouy+193kjxvm
I am so glad you two are here to monitor vote counts for us. You two seriously need to get a life. That is just sad.
Glad I'm not the only who noticed that vote counter ticking up so quickly. Tells you a lot about the poster that they had to immediately manipulate the talley to make it look like people agreed with them instead of letting others determine the numbers.
@ouy+193kjxvm 13 upvotes in 10 minutes? Are you really so insecure you had to spam your own posting?
Some Schwabbies can't handle that their precious employer makes mistakes and throw a fit over any issues. That modern cloud platform is still a mess with PCF crashing every other week and the changing of the guard as you call it is mostly those with talent being stolen away and being replaced with cheaper labor. Funny how you say it's no better on the other side too since I left for the competition after the job role updates last year and saw a 10% pay raise, 50% bonus increase, more RSUs, and a better 401 match. That's plenty more green to me. While Schwab was making job cuts and will surely do more my new employer has had a hiring surge. Similar story from several old co-workers at other companies. But keep hitting that upvote button.
Enough already. First off, the 18 month integration target with TDA is based on what we did with AppMod. We knocked that one out of the park after just a short 6 months folks, moving everything onto our modern private cloud from legacy VMs and legacy shared platforms. Second, there is obviously a generational gap between the "baby boomer" like tech folks and the new college hires. Some of these baby boomers are not as bad as say back in early 2000s, where they still developed in Cobol for heavens sake. But this is a typical transition of the guard, switching of the guard if you will. Robinhood ain't any much better people. I hear a lot of the syndrome of things are greener on the other side of pasture. I know people that work at Robinhood, Chase, and JP. Ain't that much better.
@xmz+193kjxvm It's most of the company really. I'm on the IT side and our managers won't admit it but turnover is increasing while morale drops. Our grand thank you from those in charge for all of the insanity of this year was a box of popcorn and a chintzy bluetooth speaker. Some of our best engineers have been lured away by better offers from the other choices. Schwab didn't even try to make a counter or conduct an exit interview. More backfill requests are getting denied. Those that don't take months to fill. Roles once held by experienced staff are going to college grads or temp contractors. Whenever someone takes sabbatical managers are in fear of that person using the time to job hunt because so many people have been putting in their two weeks after coming back. I plan to do the same when my sabbatical comes up this year. Now that Covid has an end in sight the job markets will soon pick up so unless Schwab makes some changes it's problems may snowball.
It’s not just institutional - retail is experiencing the same problem. No effort has been made to retain existing talent or stem attrition. Those in Southlake have multiple other choices of companies that value their talent (Fidelity, Robinhood, Ally, JP Morgan, and Chase, among others). The backfills that are being brought onboard are devoid of talent, either because they’re being sc-aped from the bottom of the barrel or lack the ability to pass the exams. Everyone is burnt out. More needs to be done.
First Walt and the gang say a merger that realistically should take 24-36 months will be done in 18. Then they lay off 1,000 employees right after the acquisition goes through even though many teams hadn't fully recovered from the previous year's cuts and needed all the help they could get. What could possibly go wrong?