Thread regarding Charles Schwab Corp. layoffs

How are there new hires if the layoffs are meant to cut costs

There’s a new hire on my team and someone with years of experience got laid off almost simultaneously. They’re different positions but I’m wondering, how are they hiring still if the whole point of the layoffs is to cut costs?

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Post ID: @OP+11c4HfX0

8 replies (most recent on top)

"old timer"... math is good... :(

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Post ID: @2hne+11c4HfX0

Most of the college grads hired in as programmers have no life. Total nerds. Literally.

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Post ID: @2aaz+11c4HfX0

And keep in mind that older employees add more to health care costs, have more vacation and sick leave and sabbaticals. Some 22 year old college grad probably isn’t going to be sticking around nor want a work life balance.

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Post ID: @1aeh+11c4HfX0

I disagree. I am a new hire, and hardly do any work. Level 54 associate.

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Post ID: @zpb+11c4HfX0

Touché. I applaud your passion.

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Post ID: @mwd+11c4HfX0

Lol this break from reality is why you're being fired and you didn't see it coming. It's not my opinion that 1+1=2. It's not my opinion, it's financial reality, it's math.

I don't care what management does, whether or not you get laid off or not. I'm answering your question of why the company is hiring cheap labor and laying off expensive labor. Past actions don't matter today ("giving your heart and soul") and you are a fool if you think a nameless, faceless, profit machine (a corporation) has any sense of loyalty to its individual employees, rather than just seeing them as numbers on a balance sheet.

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Post ID: @sco+11c4HfX0

Aww 11c4HfX0-psj. And your opinion matters how?
I am just under 50 and gave my heart and soul all day every day to ‘that place’. I loved my job and always received an exceeds rating. Your math doesn’t add up my dear.

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Post ID: @siu+11c4HfX0

New hires are cheap, work hard, and don't come with any ideas they'll ever get a pension/retirement benefits. Old employees are expensive and in many cases don't add enough value to justify their expense. Do the math

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Post ID: @psj+11c4HfX0

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