Schwab has been busy forcing out branch personnel (BM, FC, FCP, AFC, CRM, CRS) across the network for “policy infractions” which allows them to continuously let people go outside of mass layoffs without any severance package.
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I know the branch you are talking about. It is an underperforming branch, in a relatively lower income area, relative to the other California branches. Well there goes two Vice Presidents, the FCs.
One branch in Cali fired 2 FC and CSM. The manager was allowed to resign lol
They are trying to find ways to not pay severance but I’m sure they feel justified. The question is what are the infractions? Is it reasonable or is Schwab nit picking? And don’t listen to HR Risks explanation- their loyalty is with the company. They don’t work for you and the question is whether they treat all employees the same. I know someone who got a BS write up and got an attorney. Severance was paid. Know your rights.
Branches are expensive and I’m sure they don’t need endless drop ins from low dollar accounts who want to bleed their ears with conspiracies.
My guess is that once Ameritrade and Schwab complete the merger, there will be a much smaller branch network
Wow, sorry to hear that. That sounds awful and petty TBH but I guess I shouldn't be surprised? I'm a long time blue sider here but not in retail.