Charles Schwab seeking 1,000 new employees in DFW area:
https://fortworthbusiness.com/banking/charles-schwab-seeking-1000-new-employees-in-dfw-area/
Years ago when Schwab moved from San Francisco to Phoenix Schwab didn't close shop in CA on Friday and open shop the following Monday in AZ. Schwab built out data centers in Phoenix and migrated system by system and department by department. People I work with that went through it told me a department would 'get the memo' that their system or job was moving from CA to AZ on a particular date. The letter said if you wanted to move to AZ (at your own expense) you would have a job. If not, there was an end date for your employment.
Migration is happening now from Phoenix to Dallas (Westlake). This time, with the TDA acquisition, jobs will migrate from a multitude of locations to merge in the DFW area. The good news is that there are lot worse places to live and you would have a job in a state with a growing economy. The other news for people with deep family ties and roots in a city is that if you get wind of (if or when) your job function might move - it's way easier and less stressful to find a job - when you already have one. Some say it is more satisfactory to leave on 'your terms' rather than being given your walking papers on 'their terms.' I would agree.
If you doubt the migration, possibly of your own position, do your own research. It is not a secret that Westlake is the new Schwab HQ - public information. Schwab invested untold millions of dollars on the TX Class-5 hurricane proof data center and Schwab has to justify that investment. Job board - Search for your own job or similar position and see what the most prominent regional venue is - TX. It won't take a data scientist for you to see the trend because watching job postings is literally seeing the planned employment future of any company.
I have not known Schwab to give advance notice on layoffs in the past until these recent TDA merger adjustments and the present case might be because they 'have to.' Before the TDA merger I recall a planned 'reduction in work force' and the only reason Schwab announced it was that a financial news reporter caught wind and was putting in the news. Schwab scrambled to put out a last-minute memo to avoid the Pearl Harbor appearance. Nice.
Companies have every right to move, just like you do. I understand Schwab holds out on notifying people because it only makes sense if they have plans to eliminate your job that you will find another local job. However, when all our people managers that know differently and say nothing is in the works, that bothers me. Notification is a delicate balance of morals and respect. Too often Schwab has been content to wait to the last possible day because it benefits them. When your career, your family, your prosperity depend on it, you must be vigilant and watch what Schwab does, not what Schwab says to employees. Put more trust predominantly in external sources. Remember, it is required for Schwab to make disclosures to the FTC and other agencies and that disclosure is publically available. You won't find these disclosures in the company memo to employees. Finally, it is not about us vs them. Schwab is going to do what is best for Schwab and their investors. It is just business, however it feels incredibly personal, because it is. You need to do what is best for your career and your family.