Thread regarding Charles Schwab Corp. layoffs

Total cut by geo-location

I don't have number for all geo-locations, notably Orlando, but this is where we're at today:

SF - 40
Lone Tree - 95
Chicago - 25
Raleigh - 5
Austin - 61

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Post ID: @117f10Bh

22 replies (most recent on top)

All jobs at the Delaware trust company were cut except for trust officers. Positions will be rehired in Henderson NV.

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Post ID: @117f10Bh-3goi

Crazy... I left over 1.5yr ago, had a few dreams about a phoenix layoff back then.

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Post ID: @117f10Bh-1jbz

Phoenix is almost irrelevant now with the birth of DC4 and public cloud. What? Que no?

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Post ID: @117f10Bh-1fgx

There’s a rumor that Advisor Services is being sold. Specially SAC and Portfolio Connect. Any truth to this? Given how Portfolio Center was essentially given away, could this happen? Does this mean Schwab no longer custodies? Bank only operation?

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Post ID: @117f10Bh-1rci

The NOC and SOC were hit hard. Lost 33% each.

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Post ID: @117f10Bh-1njw

Well floor 13 in Raleigh was mostly Portfolio Center related staff, and the lame B-52 external custodial data download group. We know where PC went. What else was left on floor 13?

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Post ID: @117f10Bh-1yiq

Several in TIS.

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Post ID: @117f10Bh-1mhp

How bad was trading operations in Phoenix hit?

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Post ID: @117f10Bh-iko

Raleigh stands at around 30 for yesterday and today.

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Post ID: @117f10Bh-vez

At least 8 from Delaware.

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Post ID: @117f10Bh-shs

@117f10Bh-yqj Well technically it actually isn’t true. The other poster is correct. I saw BC’s email as well and it’s speaking to AS business operations. AS Tech still remains. So that isn’t ceasing operation is it? I know your original posting was extra dramatic though!!! Yay!!

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Post ID: @117f10Bh-tfb

@117f10Bh-ylh Thank you for that!
@117f10Bh-amh - I would never post anything that isn't true. In my other post I let it be known that certain info is speculation, but this case straight from an email sent to us. DERP

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Post ID: @117f10Bh-yqj

@117f10Bh-ylh Like I said—business operations yes, but overall operation no because 100% of AS Tech in Raleigh was untouched. I saw the email as well.

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Post ID: @117f10Bh-sza

@117f10Bh-amh BC's e-mail sent about an hour ago used that exact language "we have decided to cease operations for Advisor Services in our Raleigh service center." They're keeping most of floor 12, which is tech, and letting almost all of floor 13 go. Not sure of exact number but at least a couple dozen.

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Post ID: @117f10Bh-ylh

@117f10Bh-rwz FALSE! Advisor Services in Raleigh is not ceasing operations. There is a significant AS Tech presence in Raleigh that will remain. It’s true that numerous AS business personnel are gone, but operations are not ceasing. How about you actually know what you’re talking about before you spew sh!t on the Internet. Oh that’s right, most of what’s on this site is total sh!t. Derp....

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Post ID: @117f10Bh-amh

Adviser Services in Raleigh is ceasing operations as of today. How many people i don't know

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Post ID: @117f10Bh-rwz

I heard Phoenix was hit hard too... which makes sense, the bulk of the workforce is in Phoenix. Bad info from someone!

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Post ID: @117f10Bh-knc

Phoenix was hit the worst.. over 200 yesterday

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Post ID: @117f10Bh-sez

Phoenix was about 50 total

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Post ID: @117f10Bh-kyv

Richfield was about 15.

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Post ID: @117f10Bh-ivh

Don't have Phoenix unfortunately. I needed to have numbers prior to the layoffs in order to determine the final count, and totally forgot about Phoenix. But from what I gathered, TIS, Security Ops, and etc were relatively unscathed.

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Post ID: @117f10Bh-mwv

Most notably should be Phoenix!

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Post ID: @117f10Bh-mpt

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