Yes, instead of seeing cuts as a problem, they see them as a solution to all problems...
Can cuts, especially the way Schwab manages them, be the solution to the problems here?
I don't think they can. They’re just a temporary cosmetic solution and that’s awful.
11 replies (most recent on top)
This reminds me of blue green deployment pattern. You never know which will be selected. This also reminds me of CI/CD, except we have CL, continuous layoffs with a blue green deployment pattern.
The continuous quarterly layoffs with no explanation(whether they are green or blue) are a determent to moral. Until it is all brought forward and explained and not done under hand-idly every quarter moral will not improve. Both Blue and Green feel dispensable and those that are smart will move on - which probably happens to be most of the knowledge on both sides of the coin. Management needs a wake-up call - and maybe customers also!
@ntmi+1c384pUk No company ever pays at the high end.
That range is like useless. It's from $150K to $250K a year.
If you want to know look at job listings in Denver. They are required to report salary ranges by job title. MDs there is a lot of variation, some much lower than 200k. Don’t guess, just look
@ejrr+1c384pUk Yeah, that’s in range for Director. A-O was (or will be for one more year) 40% for Director and 50% for MD.
I'm Legacy blue. Do senior level technology staff make $200K base, +/- $10K, from Legacy green?
I don't understand how the "green" colleagues were so happy with such low compensation. I get job satisfaction. I get culture. That's all good, and contributes to the total package so to speak. But that is never a replacement to the low pay that I am hearing about "green". With the bigger bonus out of the picture, that is a hard pill to swallow in my opinion. I personally am happy as a "blue" employee. Have been, and always will be. However, in retrospect, I always wished I could have made steak sauce. A1 level. Still stuck as a "specialist". I clean the toilets.
In complete agreement with the previous comment. Tenure is leaving or “retiring” at record levels. The competition is hiring the talent away offering more in compensation and benefits. TD is in for a surprise come March when merit increases are at 2% average despite their year over year outperformance. Bonuses will equally disappoint. The worst is yet to come - the flood gates of people leaving will make it difficult to carry out this integration successfully.
I get the feeling things are heading towards a cliff and fast. Aside from the hundreds of people they laid off on Monday, people are leaving voluntarily. Voluntarily attrition is accelerating in (especially among high performers and SMEs). I would venture to guess people are choosing to leave for better compensation, benefits, and work/life balance. Not to mention a more stable work environment. It’s getting to a point where the people who knew how things worked (Green and Blue) are gone. Schwab, in desperation, will hire anyone with a pulse in order to replace people as fast as they can. This company will struggle to execute the integration, let alone KLO.