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 words).
Now I'm worried as well. Is there a good alternative out there for older people?
I'm in my 50s and just changed to another, higher paying position. If you're working with UHNW clients, experience is what counts.
Especially true that Schwab centers are in metro areas where there are also many other ops centers for other financial institutions. Phoenix is essentially one big banking/wealth management call service center. Chances are you’ll have to probably take something at less pay/responsibilities than what you were paid working at Lincoln & 24th st or the facility off of 48th st.
Unfortunately though persistent low rates will probably have ripple effects with all these other banks, and their enormously staffed Phoenix call centers, as well.
which office was your dad in? many Schwab operations centers are located in areas where other financial services companies also have a large presence.
Don’t focus on older, focus on experience. People are living longer. Bet if your Dad posts his resume and availability on LinkedIn and other sites, he’ll be contacted. Stay positive and just move forward. Could be the best thing that happened. I was hired during the last recession and we aren’t even in a recession right now. He’s lucky to have you! 😊
I’m sorry to hear about your Dad. I hope he takes solace in that he has a good kid that is trying to help him in his time of need. Good Luck to your Dad, I hope he finds his way sooner than later.