I saw a PowerPoint template of the talent profiles they want us to fill out. It really sounds like they are going to use them to figure out who can get axed.
Thoughts?
21 replies (most recent on top)
What Chuck should do is demand that everybody at the company answer 1 question: How much money did your biggest blunder cost the company?
The mo–ns in the C Suite that went all in betting on higher interest rates would be the first to be axed using that question as the criteria.
@8xmy+15C1Is5B if you bothered to read you'd see most of the posts are covering job security related to specific locations and products. Teams working on those nostalgic products were some of the safest during last year's purge because they delivered value and because people remembered them. Someone working in the states on something important like PC and performing well is likely safe. Someone on visa or in India or working on a less profitable product or performing poorly is at higher risk. Based on your whiney response I'd assume you're in the latter category.
Hey hey hey. PortfolioCenter still runs. Thousands of RIAs continue to use PC. In fact, the PCH, PortfolioCenter Hosted, the I wish I was a web application, but instead I'm a cloud based wanna be application hosted in some VM accessed via Citrix, still lives on. Lives on with Envestment, with even tighter integration with Tamara tooling. We are on point. We are a bunch oldies but goodies. SPT forever.
Who cares about software that we don’t even run? It’s in the past. Get over it. Are we losing our jobs or not? Stay in topic please. Can not stand the constant nostalgic trips older Schwabbies sunset to.
I thought everything about Hosted had been buried? No one likes to talk about it anymore. PortfolioCenter is one of the better plays Charles Schwab has made in a long time and one of the few software products it can be proud of. That old bird could do so many things so well that even long after it was due for an overhaul it sold for a tidy sum. If the new PC is half as useful then anyone working on it should be able to rest easier than most in the company. Anyone in the US that is. If the knife comes down again my money is on all the H1B contractors and offshores being the first to go.
Talk about what seems a walk down memory lane now. PorfolioCenter, the B-52 for RIAs. Remember PCH, PortfolioCenter Hosted, the wanna be cloud offering, without multi-tenancy? That was going to be the transition to Portfolio Connect, before we came to our senses about multi-custodial support.
Good old PortfolioCenter, the B-52 Stratofortress for the RIAs. Multi-custodial was the key operative word there. Jack of all trades, and yet master of none. It had the capability, if you're licensed for it, to convert from a brokerage at Timbuktu into some format that Catmandu can read. Amazing software.
After Schwab sold PortfolioCenter to Envestment the PC Core Tech teams in Texas were all moved elsewhere and PC Core Tech was consolidated to Raleigh. There are a few holdouts but as soon as their replacements on the job board in Raleigh are found they'll get moved too or dropped. Most of the tech in Schwab happens in Texas but PC Core Tech lives in Raleigh. Architects and team leads and product owners and devlopers and QAs for one of the most convoluted products in the company. I concur that trying to replace Raleigh would cost years and millions. I also concur that dropping the two floors in Raleigh for a telecommute option would make the most sense.
Regarding Raleigh, I would that PC Core Tech was mostly in there maybe 3 years ago. But a lot of the tech team is now in Austin (and I'm talking about Portfolio Connect). There are a few core architects that are based in Raleigh, but since they gave away Portfolio Center, what was SPT essentially has all moved over to Envestnet. They have two floors, I think they can easily close one floor, and slowly close out the office, with telecommute options for those that remain.
@2htf+15C1Is5B Some locations like old HQ and Chicago are probably at risk but Schwab can't afford to drop Raleigh anytime soon. Most all of PC Core Tech is exclusively in Raleigh and no other org in Schwab is smart enough or willing to put in the effort to handle that load. Raleigh's also a lot less expensive than the other sites and if there's one thing Schwab is good at it's being cheap. Good luck finding someone in Texas capable of doing the same work at the same level for the same price. Schwab dropping Raleigh would put several of the back-end systems and scaling for the acquisitions behind literally by years and at a cost of millions. If the execs knew what they were doing they'd drop the physical buildings for these small offices and let people at those sites work remotely 100% but then that would actually make sense.
Walt started RPS. He won’t let it die.
I would say the relocation preference is a big one. This is a signal that 211 Main is going bye bye. Lafayette in Raleigh, going bye bye. I think they should have shut down RPS in Ohio a long time ago.
For those that haven’t seen it yet, it’s a one page PowerPoint slide where you fill out your three most recent positions, education, relocation preference, talent statement, career interest, and years of experience in 39 different categories. What the f else could this be for?
I didn't even finish college. Learned to program, but never got a degree. Should I be worried? Almost 50.
I’m an ex employee from the September layoffs. Is this their latest gimmick like the Strengths thing was? So much money wasted on that garbage
We haven’t been asked (58 and above) to complete
What about Distinguished Software Engineers? Do they have to fill one out?
Leaders aren’t filling them out. Everyone is filling out one for themselves. Paygrades 58 and below fill out a PowerPoint slide. Paygrades 59+ will be filling them out in Workday.
I’m in WFS and I know it’s coming.
STS.
Where in the org is this be completed? Are your directs aware? Feel this would be challenging given some teams recent are under new leadership and leaders still do not know talent and job roles despite managing for a few mos.