What are your thoughts about potential Charles Schwab layoffs? Any chatter, news or rumors?
9 replies (most recent on top)
I worked in Fixed Income at TD Ameritrade when Schwab merged. I saw a lot of layoffs at TD Ameritrade with the Schwab merger.
I left recently because the leadership principles at Schwab no longer resonates with me. Basically just lip service.
I didn’t know Tim and Rama posted here.
Overworked? That is so not true. And leadership has not failed us. We have failed leadership by not delivering according to their reasonable expectations. You are in control. You own your tomorrow. Take control today.
The workload is way too high for layoffs right now. If they could they would but everyone is already overworked and overwhelmed. I think we're going to see a lot of resignations after March. I don't know anyone who's happy. Schwab blue employees are just beat down. So sad what has happened here. Leadership have really failed this company
Which newspaper or media outlet do you work for?
I’m not hearing much, most areas are already struggling with not enough people, and having trouble hiring. They seem to have finally, slowly pivoted to minimizing cuts and trying to retain people. The last round on 11/8 was quite small, just a few people mainly in support orgs (Marketing, Finance, Ops). Those people had long tenures and usually a duplicate person for the integration. They will definitely not cut tech talent in 2022.
Based on recent postings, it sounds the next round is either 11/15 or 12/6. Not sure which is accurate, if any. A lot of people are being silent about this it would seem.
If people keep quitting at the rate it sounds like we are hearing, more layoffs may not be necessary.