Thread regarding Charles Schwab Corp. layoffs

Someone from STS to say something about cuts?

I'm still safe, but no one in this company can feel very safe anymore. I would love to hear from someone at STS here to get some details about the layoffs. Did they choose the best and the people with the most experience or did they give layoffs completely at random? Nothing would surprise me.

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Post ID: @OP+1aN6xlay

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Yup only one director in this last round that I know of. Everyone else of the 7 I knew was either individual contributor or first level manager. The last layoff (Feb) targeted a couple TDA directors (I can think of two offhand) but not many.

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Post ID: @3cnf+1aN6xlay

I knew of no MDs, Principals, or Developer Seniors/Leads that were let go. There were a few Developer II and IIIs that I knew who received notifications.

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Post ID: @2rry+1aN6xlay

I don't think this is the case - several non-director level engineers were let go as well. Tenure ranged from 9 years to 20+ years. Only one was near retirement age.

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Post ID: @2atd+1aN6xlay

So far nearly everyone I can name (and not just from today) is a Director or above (pretty high on the TDA scale). They tend to be at or near retirement age (certainly not all) and tend to be very tenured with TDA. In some cases they are quite literally "redundant" (e.g. Schwab does not need two CISO's, no matter how good the TDA guy). Not sure I'll feel that way when my turn comes...

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Post ID: @wxt+1aN6xlay

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