Thread regarding Charles Schwab Corp. layoffs

Why did they have to lie?

Be up front with your employees. Give your employees the information and allow them to make decisions accordingly. Don't mislead them and with the same message over and over when we ask repeatedly. Some of us made decisions in our lives based on location and the information we were given by this firm, a firm that has a growing toxicity driven down by the executive council. This is why your employees don't have faith in you. It's one thing to have stale leadership that's against a modern workforce and work-life balance. It's another to flat out lie about the policies you have put in place.

This place is a dumpster fire of toxicity

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Post ID: @OP+1n8GDSkr

8 replies (most recent on top)

People aren’t going to quit over this. Everyone is mad now but we’ll have a 3 day weekend to get over it and next week it will shift to a “it is what it is” attitude.

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Post ID: @mwa+1n8GDSkr

If you are a former or current green get used to being lied to. This is embedded in the Schwab culture. Leadership very rarely will tell the truth.

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Post ID: @lvv+1n8GDSkr

“The whole staff has to lose a major perk because a small percentage of people didn’t come in as often as they agreed to?”

Wasn’t a small percentage though… it was just over 40%. Yes he was clearly pssd, and I also believe this is retaliation. The “pendulum” swings hard and far at Schwab.

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Post ID: @kdr+1n8GDSkr

Given how pi---d Walt was about people who didn’t honor their commitments this feels punitive. And if it is, it’s an even bigger big bag of bullsh-t. The whole staff has to lose a major perk because a small percentage of people didn’t come in as often as they agreed to?

It feels very underhanded. As recently as this week we were hearing nothing was changing. The world doesn’t work like it did pre-Covid and WPF was one of the GOOD things about that. The EC is forcing out of date norms that make Schwab feel behind the times. And you can bet THEY won’t be in the office as much as they expect us to be.

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Post ID: @quq+1n8GDSkr

But what about my schamily? i thought everyone cared? oh thats rite, they do, about profit.

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Post ID: @sna+1n8GDSkr

Dumpster fire of toxicity? Really? If you made the decision to move far enough away from a major office location, that’s on you right? Now if you were hired exclusively as a full remote worker, that’s one thing; but if you up and left knowing you were hired to report to a certain office location, you took a bet and sadly lost.

The other problem was that a large chunk of people weren’t honoring their approved agreements. So those folks essentially forced this move from the EC. No one should be surprised by this. Walt said as much during the corporate update. For what it’s worth, I’m hearing that this is being driven almost exclusively by the EC and that biz MDs found out the same time everyone else did - from todays email.

At the end of the day, you do what’s best for you - for profit companies are no different regardless of the platitudes they may offer. The economic situation being what it is means you either take your chances quitting and finding a new job or you ride this out. Lots of folks on here saying they plan to quit, we’ll see how much that materializes. Quiet quitting has slowed and the “great resignation” is all but over, so now you need to make a decision. The company has shown you their hand, the question is now what do you do with yours? Remember the old adage, “the house always wins…”

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Post ID: @cuj+1n8GDSkr

We had a team meeting this morning and everyone was pi---d. I got to believe Schwab did this to lose headcount. Because that's what's going to happen

Schwab needs new leadership. This place is a shell of what it used to be

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Post ID: @tfg+1n8GDSkr

I wish I could disagree with you. Unfortunately this is not the company it used to be. Sad what this place has become

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Post ID: @sql+1n8GDSkr

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