Wow, the bit about the FORMS (whatever that is) sounds really insensitive and unconscionable. Long before Schwab I worked for a startup (Props Trading Firm) when it was growing like gangbusters. I was there for 7 years before Goldman bought the place and let nearly everyone go (in waves of course), save for the few willing to move from Chicago to NYC (that's a hard move: ask anyone that's tried it), London, HK or Tokyo. Anyway, only once AFAIK did that firm need to do layoffs. It was near EOY, and the principles felt so bad about it they cancelled their typically lavish Xmas party, knowing what the optics would be. That's what a "humane" company does.
23 replies (most recent on top)
I forgot about the pelotons...and everyone's plans to take 3 weeks off work to go travel Europe.
It was a fu----g disgrace.
Ugh, sorry to hear they didn't learn their lesson on the FORMs. I wasn't on the meeting today, but a couple years ago they did something similar a week after layoffs had happened. The "icebreaker" for high level leaders was to share their "pandemic spluge" and they spent 5-10 minutes bragging about Peletons and kitchen remodels $$$. Heartless.
But the clown who fed her that line is still here....
That MD also had the lowest engagement survey results every single year. But she said she didn’t believe it reflected reality because people seemed happy and productive.
Good riddance to the MD who spun the 2 year UX contracts as an opportunity for contractors to interview Schwab. I winced every time she said that. She lost her job recently
I’m glad I’m not the only one who felt this. I thought the FORMs were incredibly distasteful.
Use that humane line on all the contractors that got to "interview Schwab for the first 2 years"
Having the new leaders share their forms with pics and references to their trips abroad was a slap in the face. Tone deaf. Not the right time to show off. The focus should have been an overview of the org changes and details about layoffs. This high paid execs came across as seriously out of touch. They’re all set up in new roles while hundreds of peons wait anxiously to be fired. Painful. Hurtful. Surprising give how well liked these MDs are. I expect better.
Funny that she said Schwab is “Humane”.
Is keeping people around until end of year not knowing what will happen to them the right idea of “humane”?!
To be honest, this call has added to the frustration. IMHO, they’re looking for people to leave on their own and not pay a severance package. Pi-s them off enough so they leave on their own.
Fu----g ridiculous. I hope she’s bluffing and they let us go next week.
Kathie specifically said "End of Year, which is a long way off" Remember that when the announcements start rolling this week or next.
Re: Layoffs. Nothing new.
Kathie redirected to what Walt said (layoffs are happening at year-end) and what Peter/Rick said (focus on work rather than anxiety).
She said Schwab is a humane company. Folks won't just get locked out of their computers like Google and Facebook.
Basically, keep on keeping on until we find out at year-end.
She acknowledged it's not a satisfactory answer but it is what it is
I work in digital and didn’t get an invite?
Kathie says that if you requested working from home flexibility, that does NOT mean you “have a target on your back” with layoffs
absolutely nothing of substance was said
It’s a pep rally
Can anyone summarize for those of us in digital who didn’t get the invite?
Everyone look! Directors are people too... We are just way more important.
It’s obvious that org needed significant change. Far too many people
filled with spoilers for the wither
Message so far about decentralizing Digital:
Change is hard. Although we mourn digital downsizing, digital has matured, so the right thing to do right now is to focus on business.
a sh-t show... as expected
How was it