Was there some announcement I missed? I understand speculating, but people are posting like they know for sure it's going to happen.
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To answer the original question, Schwab’s income is tightly correlated with interest rates. The Fed just reduced rates to nearly zero and they may not go back up for years. That puts a huge dent in Schwab’s revenue.
NNM. Needful Needs Matter. Some will argue All Needs Matter, but I say just the Needful please.
@fizm+154NuP4q
To the last poster: You obviously don't work in technology at Schwab.
I had to google “ do the needful” and found out it’s Indian English which has phrases that no American understands. I needed an explanation of this phrase as well as the phrases including the word “doubt” to finally understand that workers in India feel that the company should answer their questions. Unfortunately, companies are writing the script everyday and don’t have the answers as to how to deal in a pandemic. I am doing the needful in letting you know that there are no answers right now, just speculation which probably changes day to day. If you are nervous, please work on your saving accounts in case the downsizing storm hits. We all have to accept uncertainty as it’s part of life, so please do the needful and stop asking for answers. Maybe there are no answers right now.
People are not certain. People have doubt. Needful must be completed.
Maybe we should go Nike and "just do it." It being "the needful".
Resistance is futile. Compliance with doing the needful is relevant. You will become one with the needy. Doubt remains. I am Doubtful of Locutus.
Please comply and do the needful. I invoke FINRA and the War Powers Act, and call upon all to action. Where that action is doing the needful, in the hope and glory of eliminating all doubt on earth. For all man. Not just any man. But all men, regardless of doubt, or lack thereof. Only then can the needy be done. The needful be fulfilled, as prophesied by the great one. Oh needful, please do the needy.
Ok I get it now. LOL. I was trying to think of some an acronym like ID - Technology poster... they masked out two letter in between. I knew some good people get payed off last November. Hope you’re doing well.
It looks like this website uses a very strong word filter, so even a minor insult word gets changes to id-t.
I’m referring to the poster on here who keeps filling the comments with their parodies of corporate speak.
Oh, I was let go from Schwab, not TD, in the 2019 layoffs
What is an id-t poster??? Btw sorry to hear you got let go at TD.
There will be layoffs to consolidate after the TD merger but not anytime soon. We’re still like 2 years away
I’m tired of the id–t poster who thinks s/he is being funny.
The two big acquisitions are a real big flashing warning sign. TD is hiring entry level, an odd move for an acquired company. But they’d be absorbed into Schwab with TD pay rates and no sabbatical promises.
I was one of those let go, my manager and VP kinda overshared. Not only on my last day but in the weeks leading up. The Chicago office will likely be a fraction of what it is now, basically keep some compliance people and other types that you can’t get off the streets in Dallas.
So, yes, I’d expect more layoffs, especially if you’re over 50 and/or have ten years. You’re a health care expense, have tons of vacation time and likely hundreds of sick hours.
Can someone please do the needful to correct my doubt. I certainly don't have certainty as the original poster suggested. I have doubt. I have a big doubt. Huge doubt. Please do the needful, so that you can fullfill the needy, and henceforth forthwith, correct said doubt. Appreciate your prompt attention to the needful. Best regards, and truly yours.
We need more VPs and MDs and SMDs. A few more MPs couldn’t hurt. Layers and layers of management. It’s like we’re C code and you have dereference ten levels before you get to that actual memory location.
Please do the needful and correct our doubt. Thank you for your cooperation to get the needy performed.
Also, to the person who said this company needs layoffs - the only way that's true is if you are referring to upper management. Otherwise, no.