Thread regarding Charles Schwab Corp. layoffs

Would contractors be affected with the upcoming layoffs?

Could it be that they only terminate FTEs while keeping contractors around… and let contracts end naturally when the term is up?

Or will layoffs involve both FTEs and contractors?

by
| 1954 views | | 7 replies (last ) | Reply
Post ID: @OP+1nSvQaj4

7 replies (most recent on top)

Yes is an expense problem which does relate to headcount - but contractors are usually paid more than employees - especially ones in management or project management - they should be let go first!

by
| | Reply
Post ID: @1dyu+1nSvQaj4

Project funding is very tight next year so you might find contractors being let go to accommodate that, but in general this is a headcount target and not just budget. I.e you can’t save an FTE by cutting equivalent $$ amount in contractors

by
| | Reply
Post ID: @1fal+1nSvQaj4

Not to giveaway too much but we already got rid of as many contractors as we could in our organization, supposedly to reduce cuts to FTE, earlier this year. Don’t have more to cut I suppose.

by
| | Reply
Post ID: @cpl+1nSvQaj4

What I've seen in previous company is that FTEs are laid-off and then contractors (who could be former employees) are hired to help in transition.

by
| | Reply
Post ID: @jyf+1nSvQaj4

Most likely not since your role isn’t a saving long term and hits other budgets.

by
| | Reply
Post ID: @xfi+1nSvQaj4

Contractors are not laid off. Contract ends . also most contracts have clauses in place to end early . lay off is primarily targeted with fte.

by
| | Reply
Post ID: @zlj+1nSvQaj4

Just speculating but I think not, if your role is funded already.

by
| | Reply
Post ID: @bod+1nSvQaj4

Post a reply

: