Lay Offs/RTO

Take or leave it, I don’t feel comfortable revealing my sources.

Tomorrow, there will be an announcement that return to office has been delayed. They will say it has to do with real estate but the truth is, Schwab is using a third party agency to analyze their business model for layoffs, they were “highly encouraged” to delay back to office until layoffs were completed.

Most layoffs will be completed 2 weeks post September Integration and a huge chunk of them are Integration support (both customer facing and non customer facing).

MDs and Directors do not know and department heads have signed NDAs. It’s based on numbers and performance has no bearing.

Comment! It's anonymous!

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“ Most layoffs will be completed 2 weeks post September Integration and a huge chunk of them are Integration support (both customer facing and non customer facing).”

This source is money. How effing sad is it that I order for us to know the truth about anything going on in this company, we have to come to an anonymous board to get the truth. When a company forces NDA’s on its staff to prevent honest information, it’s a pretty sad situation.

Schwab is a joke.

@djn+1o2FgKqD LMAO it is having the opposite effects on my team. Ever since the layoff news broke my TL has done nothing but play PUBG or watch YouTube videos during meeting hours. Don’t ask me how I found out.

So you get people scared of layoffs to work extra hard only to be laid off with no bonus. What cowards.

“So exception approvals were actually for 1/2-4/1. Why not adjust to 6 months now that the start is start of the year? such a messy process”

The mental angst to get an exception or not almost equals the period it will be valid. Nice.

What a horrible way to treat your employees… if you need to lay people off, have some consideration and some thought for what people are going though. The total lack of direction by “leadership” is astounding. This company su-ks donkey ba--s.

@odz+1o2FgKqD

I completely agree. Leave it up to CS to make things as complicated as possible with their wishy washiness

So exception approvals were actually for 1/2-4/1. Why not adjust to 6 months now that the start is start of the year? such a messy process….

Methinks this will be another instance when they overpromise and underdeliver. Now whoever shows up on 1/2 will be expecting THE employee experience that they will now have 90 days to prepare.

Was this call with Rick recorded? The chat on this forum when Walt’s call was the best thing.

Thank you so much for sharing. You're an amazing person.

@iiu+1o2FgKqD Downward spiral? LMAO. These clowns are flushing Chuck’s entire legacy down the toilet! This sort of thing is beyond embarrassing. Even tinpot dictators don’t backtrack twice a month because even
they know that it damages prestige and credibility, something that the EC doesn’t even care about.

For all the naysayers, this thread was accurately. Thanks OP!

Darn. I start my new job in mid September too. Hopefully I get layed off before then

@ims+1o2FgKqD >

Because Rick can't talk and walk. Worst public speaker in leadership at Schwab. Cotton Mouth Rick. Gets flustered.

What's amazing is that talking to employees is easier than talking to shareholders or reporters. This company is f*cked when he takes over from Walt.

@ims+1o2FgKqD that's what he does. If there is no script he just agrees with whatever Peter Crawford says.

Why did Rick read from a script? That was really odd.

Announcement for the non-PL's will come after market close today.

An announcement will go out later today.

So, for those of us that aren't PLs, will there be an email sent to confirm this, sometime today? Or are we just operating in the dark, like usual?

Pepperridge farms remembers…

I nominate the OP to CEO. Obviously someone that can lead with transparency.

I think this is at least the 4th time they have pushed back an RTO decision, dating all the way back to the beginning of the pandemic

@rqd+1o2FgKqD
Like a other poster said…. Embarrassment. Nuff said.

@rzo+1o2FgKqD It is much worse than just a plain backtrack. It is a backtrack of a backtrack, and there is a chance of it becoming backtrack cubed if the big brained lawyers send additional suggestions like RTO on Christmas Eve as a present for employees.

We need more people like OP on here. Thanks for providing this info beforehand

Thank you OP for posting. Truly appreciate you.

Schwab it truly on a downward spiral. Chuck needs to come back and clean house of these clowns.

Does anyone here remember we are not going to backtrack, because of some anonymous social media posts from employees? Anyone remember that line?

I don’t care anymore. I am now a MARA supporter. Make America Remember Again.

What an embarrassment…

The OP hits it off the park . May be chuck in disguise 😀. All hail the king

@yvj+1o2FgKqD
They gave him a script so he wouldn't embarass himself any more or say more stupid things.

I'm now convinced any video footage of Robotic Rick is a deepfake.

thelayoff nails it again. Thanks OP.

This man is not CEO material. May Chuck help us all.

Delaying to maximize your productivity in exchange for a lesser bonus that might not materialize by the time bonuses are paid out. Truly clever.

He literally admitted near the end of the call that this gives them time to complete the layoffs before bringing everyone back. OP nailed it.

Feedback provided?

Most of us do NOT want RTO, a delay is good but still SU-KS

Would have actually been funny if they pushed RTO back to Jan 6th

He literally read from a script for the entire thing. Even the Q&A was curated/written down. Can’t get more ungenuine than that.

Thread regarding Charles Schwab Corp. layoffs

Lay Offs/RTO

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