Thread regarding Charles Schwab Corp. layoffs

Even a double digit raise wouldn't help much

If Schwab wants to keep the best people, perhaps a double digit raise would slow down the attrition. However, this is not realistic to hope for, so it is quite clear that this will be soon become a very different company made up of completely different employees.
On the other hand, it is questionable whether raise would solve anything because people are also leaving because of the general atmosphere and because they do not trust our leadership, which seems completely clueless.

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Post ID: @OP+1dM8Z9NT

7 replies (most recent on top)

Those that can afford to walk and retire and not give a dan, are not called lifers. That is the definition of success my man. I sense sour grapes.

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Post ID: @3xnu+1dM8Z9NT

Forget a million. Those that have been accumulating just ESPP alone, maxing out with the 10% contributions every quarter, in the last two decades has seen the shares go as low as $8. That's not including the purchase 15% discount. If you've been holding to today, where shares around $80+, you can retire. And this doesn't include the ESOPs and RSUs they would have exercised and sold over all this time.

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Post ID: @2bbn+1dM8Z9NT

Schwab lifers with a couple decades of service should have a million or two in company stock. Perhaps that cushion is allowing people to quit and look for greener pastures.

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Post ID: @2dqr+1dM8Z9NT

More money is not going to solve the attrition problem. As long as Schwab continues to play Russian Roulette with everyone’s health (Covid cases nationwide up 15% in the past 2.5% weeks), more money, even say $30 an hour for new hires, isn’t going to give anyone peace of mind if they fear setting foot into the office.

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Post ID: @2dve+1dM8Z9NT

I have a feeling that the let’s all work at a massive campus structure is causing many people to look elsewhere if they’re give WFH.

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Post ID: @1hit+1dM8Z9NT

I'm Green. I'm a bit surprised by the number of Blue employees leaving. I understand that throughout the US workforce people are leaving jobs at record levels, but my feeling at least is if TDA was still a company it would not have such high attrition. I am not tooting TDA's ho-n ( there's a lot good with Schwab in my view).

It also does not seem that the reason is just be the acquisition and quarterly layoffs.

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Post ID: @1mlq+1dM8Z9NT

Assume you mean like a 10% increase in my base pay? It would help me.

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Post ID: @1blu+1dM8Z9NT

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