Jan 24: Layoffs 'going to get worse from here,' Charles Schwab's Liz Ann Sonders says.
She pretty much said the quiet part out loud.
I mean come on, the timing of the RTO, layoff email, office closures. This has been in the works for months. And I’m sure the EC has known for at least a year. All the reassurance we got through the year has been complete BS.
corporate greed is disgusting.
Article: https://finance.yahoo.com/video/layoffs-going-worse-charles-schwabs-143402770.html
Possibly, but anyone that uses the phrase “saying the quiet part out loud” is a mo--n.
I have a feeling we will know our fate this week. God speed.
The link is about general layoffs at US companies when everyone was predicting a recession. The remarks are from one of Schwab's market analysts on the prospects of US companies and their employees in light of a recession. It is not about Schwab layoffs.
There was understanding that Schwab would not do layoffs until after TD project was completed - 3 years after merger, when we initially acquired TD. So, that was always anticipated. And the employees most affected would be TD folks. What's making this layoff larger is the poor planning to 'unanticipated market' earlier in the year, causing all these activities (RTO, layoffs, office closures, poorly thought-out communication, timing) to collide.
Its surprising that they retained so many through the TD acquisition. Feels like a way NOT to pay the bigger TD severance amounts - I think Td's was 3 months + 3 weeks per year of service AND Prorated bonus. So its goes.