Thread regarding Charles Schwab Corp. layoffs

How’s everyone coping with the layoffs?

I’ve gotta admit I have spent the last week day drinking and eating pizza and burritos. That isn’t healthy so I know I need to snap back and get my life in order. I’m still in shock, I’m glad I got my sabbatical in at least before the lay-off. I can’t imagine they paid out sabbatical pay to those who weren’t as lucky.

I’m going to travel for a bit before I start job hunting. I’m taking this lay-off as the same way I did the break up with my ex boyfriend, I don’t want to just grab any job on the rebound.

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Post ID: @OP+11dPxLYS

5 replies (most recent on top)

We miss you here in front of "The Emperor's" office. I hope you land back on your feet.

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Post ID: @9tqs+11dPxLYS

I got laid off and got 2 months notice with pay and bennies, 5 months salary (grade 60), and a pro-rata bonus of another $10K for doing a decent job while I knew this stuff was going on, Works for me after only working for them for 3 years. Life is too short for working too hard :-)

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Post ID: @6esr+11dPxLYS

The severance is pretty good. If you have 20 years of service you essentially get 12 months of pay as severance, that includes continuing to receive pay and benefits for two months after notification. If you are grade 58, or grade 60, you would get a minimum of 88 days or 110 days of pay if you don’t have much tenure. That’s 9 biweekly paychecks or 11 biweekly paychecks.

Getting layed off is not a bad thing.

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Post ID: @1eof+11dPxLYS

How long were you at Schwab? Would you mind giving some details about their severance package?

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Post ID: @eci+11dPxLYS

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