Thanks to everyone who has shared layoff information on this board over the years. The accuracy has been spot on. The February cuts were shared here first back in November (@OP+17KFmZOR, @OP+17VISkiL). We now find ourselves on the eve of the inevitable next round.
Let's use this space to share what we're seeing and hearing Monday and Tuesday.
Good luck, comrades.
From what I have seen the blueprint is if you are older with a long tenure with the company you are at risk. I saw someone who I thought was untouchable get hit as well as another high performer Principal.
Are you in SCS, sec operations side or the engineering side?
SCS (under STS), was told yesterday my position has been eliminated, yet they recently hired in our team. Out with the old, in with the new (,subservient and entitled).
Won't impact you, they are cutting down on the older employees or duplicate employees. Not new hires.
i just got hired to STS, FML !!!
No media coverage but...
https://twitter.com/TheLayoff/status/1358904864475021314
What is even going on with these comments? We got an email from the Schwab Executive Council addressed to all FTEs confirming "approximately 200" Schwab employees had their positions eliminated today. Furthermore they said these reductions will be expected to continue on "roughly a quarterly basis". There's no fake news or speculation; this was literally sent to all FTEs in the company. Dennis Howard just sent a followup email again confirming that STS was not spared.
Any word on the Schwab side? I personally have not heard of a single person in STS getting notified. Nor has any of my colleagues. Thanks.
Officer Fake News, you sir are an infant.
How were you notified? Did you have a meeting request setup ahead or time, or did they just call you at home?
There have no layoffs confirmed, because there have been no layoffs. This is all fake news.
It was just officially announced in TDA Slack. Approx 200 impacted.
I am at the officer level. No one is getting eliminated. This is all fake news, fake media, people making this up as they go. Read my lips. No new layoffs. Calm down and relax folks.
Corporate communication was just issued. Approximately 200 are being eliminated.
Email indicates to expect quarterly layoffs. Buckle up, it's going to be a rough 2 years.
Schwab Leadership just sent a notice. So it was real. Now we can calm down.
Just got the email from leadership about the job reductions happening right now. Definitely not fake news.
Whoever the troll is that keeps saying there have been no layoffs is totally lying or misinformed. I know several now who have been let go today. Go troll elsewhere!
Several IT folks in Columbia, MD have been laid off today.
This is all made up. People are making this up to get people riled up. Calm down. Take a deep breath. There have not been any layoffs on the Schwab STS side, or TDA from what I can tell.
Weird there are confirmations but no wide communication. There is a corporate update meeting Wednesday so probably will be done before then
lot of performance-based eliminations this round
Can confirm cuts happening on Schwab side, tech.
So it sounds like 300 people, supposedly more spread across both legacy TDA and Schwab. As I said before, mainly tech and operations. I personally know of 12 in TDA offices - Omaha, Columbia, and Ann Arbor. A couple of directors (data/EDAX/Agile), and a bunch of Manager/3 levels like business analysts and Scrum masters.
For those of you who have been laid off, could you pls put location, group and whether you were a TDA employee or Schwab? So very sorry you were laid off. Hope you got a good pkg.
Just received my walking papers. Rumor has it there will be many more to come.
Any lay off on Schwab side?
I know several people that were laid off today in Phoenix and Denver
just got my notification......
Can confirm, i have no information about any layoffs. Might or might not happen.
I can confirm this is real.
reductions are absolutely happening on the TDA side. confirmed MD and a director reporting to him have been severed. I also know of three others at the associate level from operations so far.
Yeah the above “keep calm” voices are trolls. Cuts happening now, just heard about a TDA tech Director (Schwab MD equivalent) being let go so they are working top down. Mostly tech and operations is what I heard, supposedly smaller than the end of 2020 cuts but more impact because those groups are smaller... :-/
unsure if the two posts below are accurate or just trolls.
layoffs or not, just talked to a reliable source who said upper management has indeed been monitoring this board and they are not pleased.
Yup, just got my notification......
Seeing it happen right now. Sad to see my coworkers go, some who we never thought. The predictions were right.
Officer level is VP and above. They are usually in the know, as in they are connected to the information superhighway. You know. DARPA. Precursor to the Internet. TCP and IP and all that jazz. HTTP developed at CERN on a Next computer.
I digress. What I am saying is they usually know what they are talking about. However, I would find it hard that officer level folks would post here.
@1kuy+19iLS9E9 Officer Level Manager. Big Man on Campus. Trust him. He knows what he's talking about. Everyone calm down. Keep calm and carry on.
@1kuy+19iLS9E9 3 weeks from now?