Let me see if I got this straight: the leadership wants to fill empty buildings so badly that they don't care at all about all the great employees the company will lose over this, the deterioration in the company culture this will cause, the imminent drop in productivity, and the guaranteed plummeting of employee morale? All of this because they want to fill some empty real estate?
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@aot+1nLyz6tE - Not necessarily. Don't you recall October of 2021 when they gave out a sudden 5% increase and said it was to offset inflation? That was to keep what knowledgeable employees they had left. They pulled the same RTO and too many jumped ship. Remember, they more they pay you, the more they own you as it's harder to find the same paying job. So...be careful what you wish for.
correct
The point is - Schwab has a lot of expensive real estate - they waited way too long to sell. So now they have decided to use it by requiring RTO. They have screwed up ALL around
They could rent out unused floors. Schwabbies would have to badge into Schwab floors.
Schwab owns the most if the real estate and it’s a big asset on the books. They and their buddies know corporate real estate is in big trouble which is why they are making us come back. They can’t sell it so they have to convince shareholders we are using it
Several locations are at capacity and they are actually shopping for buildings to lease as they have no where to put the people they are forcing back. It’s absurd.
A significant number of us employees are also shareholders through the ESPP. As a shareholder, I have to wonder why we are paying large sums for real estate when we could save significant costs by closing offices and allowing for permanent WFH. I saw that the JC office being closed was costing us $200k/yr per seat! If that's true, we were likely paying more for a person's desk than what we were paying that person for their time and expertise. In what world does this make sense? Close the offices, capture and maintain the best talent nationwide, and pocket the savings == PROFIT.
I think you're missing the point. People say they are going to leave, but they won't. This happens time and time again - lots of threats, no action.
The only care about shareholders. I’m never working for a publicly traded company ever again