Thread regarding Charles Schwab Corp. layoffs

This isn’t the Schwab I applied for

This company has changed so much in the past 1-2 years. I am currently work within the CS&S division and the leadership there is just oblivious and apathetic to the struggles that both employees and clients are dealing with. The same concerns are voiced time and time again with little process to enact change. People leaders don’t have the resources, wherewithal, or simply the ability to do much of anything but try and “keep peace”.

Schwab’s motto is to see through the client’s eyes. But, apparently this no longer applies to employees and only for clients when it’s positive for the bottom line. Schwab has lost their identity and what made them so great. They quiet or ignore anyone who speaks to this point. Leaders are hired externally and those trying to promote are kept in place by tedious and meaningless metrics that do not accurately portray the contributions that one is making to their team, department and company. That responsibility falls back on the managers and well…

There is a lore about the Schwab atmosphere. It was there, it really was. But, that was a long time ago and is a thing of the past. People (sometimes it’s hard to feel that we’re human in their eyes) are struggling to deal with the persistent lack of respect, teamwork, and treatment to foster a truly collaborative environment. Innovation is a whisper and not something truly fostered.

Something has changed here and it’s not good. Quality employees and teammates are flocking to other, better opportunities. They want to work for companies that actually hold themselves to their values. It saddens me to see the company I once loved go downhill like this. There seems to be no light at the end of the tunnel so it’s probably time to get off the train.

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Post ID: @OP+1nLFQmoe

12 replies (most recent on top)

@1quq+1nLFQmoe

Schwab blue here, hired a few years back. This is NOT on TDA. The weirdness around all of this is 100% Schwab leadership. Everyone from TDA that I've encountered since the merger have been outstanding. Including management and leadership. It's disappointing that more of TDA's culture wasn't merged as well.

And to anyone from TDA reading this, I'm sorry that you're getting the sh-t end of the deal here. You went from amazing to typical, run-of-the-mill corporate b.s.

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Post ID: @1lpl+1nLFQmoe

Schwab on Schwab violence. Gotta love it.

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Post ID: @1iqe+1nLFQmoe

Long time blue employee here. I’m sure it’s not TDAs fault at all. In fact the green employees I’ve encountered remind me of old school Schwab (helpful, polite, willing to go above and beyond) more than blue who have had to deal with this cr-p leadership for longer.

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Post ID: @1dih+1nLFQmoe

@1quq+1nLFQmoe GTFO of here. Don’t blame this sh-t on TDA. How much of TDA is on the current EC? The ones that weren’t immediately shown the door left on their own accord for good reason. This is all Schwab leadership that was around well before the acquisition was even announced. We never signed up for this either, things were good until Schwab fu---d it up.

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Post ID: @1cov+1nLFQmoe

Yea, I’ve been at Schwab for 10 years and it’s definitely not the company I started with. The last few years have really just been downhill. Leadership, the culture, this acquisition…all bad. Schwab clearly learned nothing from the BOA fiasco. It’s like TD acquired Schwab! It’s no longer about seeing through the clients’ eyes. It’s no longer about owning your own tomorrow. It’s literally all about the bottom like and it’s showing BIG TIME!

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Post ID: @1quq+1nLFQmoe

100% agree. I returned after a short hiatus and the company was not at all the one I knew before. I was sold a bunch of lies to come back, and I ended up leaving after a year. It’s sad.

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Post ID: @vuo+1nLFQmoe

They metrics are awful. Half my team just transfers their difficult calls and then gets commended for low handle time and high CX scores as a result. Nobody cares about the client, just a stupid metric that “proves” we do.

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Post ID: @xte+1nLFQmoe

Yeah same. Mainly because the Schwab I applied for and quit my posh overemployment work style for - was 100% remote.

Fu-k you walt. You cu-t.

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Post ID: @gzo+1nLFQmoe

Absolutely, the Schwab/TD/Scottrade train seems to have switched tracks, leaving behind its core values, and it's high time we reconsider our journey.

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Post ID: @kjg+1nLFQmoe

The speed of changes - all negative to client and employee - over the past 10 months is incredible. It's scary how fast a great company can be destroyed from within.

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Post ID: @cda+1nLFQmoe

It’s bad when you have to tell a client that you agree with them that our tech is bad….over and over again and for months at a time.

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Post ID: @edc+1nLFQmoe

I laugh a little every time King Walter the 2nd mentions Schwab being a challenger. The only thing they’ve challenged in the past 10 years or so is their employees patience, mental health and how long sh---y dated software can last.

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Post ID: @pyh+1nLFQmoe

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