Anyone hear what may happen in Q1? Any plans for further cuts, or is this it given current attrition rates?
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They are called scrum masters, not project managers. But yeah, cut 300 SMs, and the only thing we will notice is less meetings and more time to do our work. LOL.
Schwab can layoff another 300 project managers and not notice.
If the severance package is now normalized, Schwab policy is you remain on payroll for 2 months after notification. So if they are looking to not pay out the bonus in March, they would have to cut by mid February.
The last round was really small and targeted, not sure how much they have left.
That being said, there’s a really big push right now on legal entity conversion. To be complete no later than March. There may be another group of Schwab Green that gets let go before they have to pay bonuses.
schedule would be early Feb, but there may be enough attrition that they don't do it.