Thread regarding Charles Schwab Corp. layoffs

There are people in CS that have been around for twenty years? What kind of dinosaurs are these? Hope they are not in tech.

I work with a few senior level people on my team that have been around 15-20 years. I wouldn't mind seeing them volunteer for early retirement.

I have never heard of them taking volunteers. Most of the people layed off recently were closer to 60. Had memory problems, on the verge of having a stroke. Much like Gary Coleman on Different Strokes. But at Schwab.

I’m not sure why the previous posts claim the company would never ask for volunteers. I know plenty of people who volunteered through various layoffs over the past 5+ years. All were over 40 and had 10-20 yrs of service. All were taken up on their offers. And no, none were slackers. They were well known, established top performers who were over working the grind. I agree the company doesn’t ask per se, but they definitely are very open to anyone wanting to volunteer.

They won’t. If you look at the people mostly affected, it’s those over 50 and/or ten plus years of service. They then include some younger people, many of whom are already on written warnings to avoid age discrimination.

Over 50s are expensive for the health care premiums while ten plus years of service means they’ve got 4 weeks of vacation plus a ton of sick time, all on Schwab’s books.

They won't is short answer. Schwab has never asked for volunteers. The top tier folks which they want to retain will all want to volunteer, take the lump sum severance, and will be able to get better offers elsewhere. The underperformers will all want to stay. Not ideal.

Disclaimer, I am in management. At the officer level. Yep. The officer here again. Officer level. Throwing ya' all a nugget this time. Not just bits of sc-aps.