Thread regarding Charles Schwab Corp. layoffs

We got the official drop on the adjustments to WFH - don’t see that working well for them. If they want to keep living like it’s 1995, so be it. But most companies thrive and grow with 75-100% remote. Just kicking the can a bit longer on attrition.

The October date is not behind. The last one was end of July and prior to that beginning of May, so expect somewhere between October 25th and November 8th.

Schwab is a CDC sponsor - it's on the CDC website. Go look if you don't believe it. You know the woke execs are going to slip in the vaccine mandate with that memo you'll get in your inbox to appease their overlords at the CDC.

Just pay your pharmacist $500 bucks to squirt the vaccine in the trash can and mark you as vaxxed. It's a win/win. Choose the single dose vax so you don't have to go back twice. That way, if you sit next to a Vax-ho-e at work, you can grin as they think you are one of them.

I doubt this is in lieu of the quarterly layoffs. We could still have one in the next couple of weeks. Schwab is just traditional. Traditionally frowned on remote work, and flow to adopt to current trends, if they ever adopt period.

I can't help but wonder if this is in lieu of the continued quarterly layoffs. I mean, the October one is late or didn't happen. Just tell everyone they have to RTO and don't backfill them when they leave. It doesn't seem like a very deliberate way to ensure a highly performant team, but then as has been noted some of the folks given their walking papers are not folks you'd necessarily want to see go, and compared to TDA it does seem Schwab sees us all as more or less fungible. My $0.02.

Expanding on COVID a bit, when we hit the peak last January, we had two major advantages - warmer weather and aggressive vaccinations. This resulted in an average drop of 58-60% per month, getting us to 11K within 4 months. The case counts are dropping again, but on average only 40% per month. So we are likely going to take much longer for a decline. On top of that, we are moving into much more crowded indoor activities compared to 2020. So I would not hold my breath for a quick “back to normal”. And if Schwab does try mandating RTO during high case counts, I personally know numerous individuals who would quit on the spot.

Was this a new change announced today, or just something they’ve been subtly messaging to those already WFH full time? I’m not sure why they are so he-l bent on shooting themselves in the foot with this - all of our competitors are offering 100% or at a minimum far more generous WFH policies. Realistically, we will probably working from home until later in 2022. Don’t be surprised at an exodus prior to bonus payout if they try to mandate RTO with a high number of COVID cases still occurring.

While numbers are dropping, 90K cases a day is still well above the 10K estimated to have spread under control. At best, looking at the graphs, we likely are not going to hit that point until Thanksgiving. Best course of action is to delay RTO until post tax busy season.

Yes, it's true. Our group was transitioned to TDA leadership (who are all on the east coast) and we were told we will not be allowed to WFH. We have three telecommuters on our team who are scrambling to find positions in other groups. This is a straight up lie by Schwab to appease the backlash that we saw a few months ago on RTO. The 90 days thing is just a temporary policy until everything quiets back down.

90 days of WFH is just fine for me. Plan is to use all 90 days during January, February, and March. Get that bonus and I'm outta here.