@ivou+1j5mhxl4 What areas are trimming the fat?
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I aswell gave heard nothing of lay-offs. Actually just the opposite. Our branch is under employee capacity given assets under management, we may bring on more employees. Secondly our back office continues to ask for delegation of tasks, I believe they get it. I have not heard anyone being let go.
As a broker-dealer/ registered investment advisoe makes money on interest rates, management services, and commissions... the hikes should be good for business by way of spread. Also, or advisory fees are widely percentage of AUM not performance. Not heavily cyclical.
I feel schwab employees (and other established BD/RIAs are in a good spot for an upcoming recession.
Level 60 here. Layoffs are scheduled for November 2022.
CD1 is a joke. Would have been done already had any of the smart leaders stayed. Noodles and his crew milking every ounce for job security.
I haven't heard of anything regarding layoffs. Some teams are actively looking to increase head count, or fill roles from those that left. STS. So this may depend on the team. If you are involved in CD1, I can't see them cutting staff given how tight things are.
Should we expect anything in October?