If you work in technology and are concerned about being laid off from Schwab...don't! It's a sellers’ market. Calling Schwab's ethos for technology solutions (both internal & client facing) archaic is not an insult but a statement of fact. Schwab acquired TD Ameritrade in a whopping $26b deal and are poised to blow it. TDA spent the last 5 years overhauling its technology portfolio; bringing in fresh thought leaders from other notable players like JPMC, Citi & Goldman Sachs. And those thought leaders have left, are on the verge of leaving, or have remained to struggle against the inertia of complacency at Schwab. Schwab technology leaderships talks a good game and can tell they're forward thinking. But nothing could be further from the truth. Leadership means making difficult and often unpopular decisions. Schwab technology leadership lacks the backbone and introspection to see where they can improve and act upon a plan to do so.
12 replies (most recent on top)
Boomer??? I ain't no boomer. Boomers are retired. I'm Gen Z. Tire balancer.
The trolling won’t stop here, it’s just d-mb corporate boomers who think they’re funny. It’s okay though, new generation will take their jobs soon enough
Whoever the troll is, can you please stop? You got your attention.
This is a website where we try to sift through all the rumors and actual layoff reports, it’s important to people’s lives.
Can you find a sports site or something that doesn’t involve people’s livelihoods to troll?
And to add. Technically, Charles Schwab does not make money either, as that would be illegal. Only the US Treasury makes money, by printing it, and the Federal Reserve Bank distributes it.
But saying that CS makes money, while LS makes tires has a much better ring to it. And both companies were started by Schwab. Much like Tesla and SpaceX is to Musk.
I know Les Schwab does not make tires. But the saying that LS makes tires, while CS makes money, sound much better. Que no? Also, the reference to AVL and Red-Black trees is new. Balancing tires -> balancing BSTs and tire rotations -> tree node rotations.
Come on. That is funny as heck. And it's a new one.
LS does not make tires. It sells them. Try Good Year, Continental, etc.
Anyway your joke is old and by now lame. Find another hobby.
Just to add on to the previous post. We balance tires, we don't balance binary search trees. We deal with tire rotations, not BST rotations. Fundamentally different problems, though they both have "rotations". Les Schwab makes tires (balance tires, rotate tires). Charles Schwab makes money (balance search trees, rotate nodes within trees).
You guys complain and whine. There are some places where there is no governance, standards, patterns. Period. You all worry about balancing binary search trees, and deal with tree rotations, having theoretical debates of the benefits of AVL trees versus Red-Black trees. Well, I deal with tire rotations, and I'm lucky to bring home $35K a year. I am a Les Schwab employee. What color am I? Yellow perhaps. Les Schwab makes tires. Charles Schwab makes money.
I'm a Green employee. You are overselling what there was on the Green side. There are some areas where Green was ahead, but there are also others where Blue is ahead. it is true that you do need to jump through more hoops on the Blue side.. And it can be excessive at times.
I did mean Tim H. He's the one who created EA, the over the top oversight, the restrictive technology guardrails, and several technology missteps. He's been at Schwab since he was a tech director. Appmod was his baby and has not gone well (and I'm being kind there). Over the years Schwab has rotated tech EVPs out every few years. Time for his golden parachute.
Not Tim H. He's a real leader. He's a technologist's technologist. But you probably mean Tim M. from TDA could go.
Start with Tim. He has to go. We need fresh thinking. And the oversight he brought in is too heavy handed.