Thread regarding Charles Schwab Corp. layoffs

TD employees were def overpaid and that’s why many were downleveled when being transferred into Schwab.

I also find the TD folks having a hard time adjusting to Schwab culture at times, producing unneeded roadblocks and spin as they refer back to how TD operates, blah blah blah. The sooner this Green/Blue integration completes to Blue standards, the faster we can move on.

Ive been through scottrade, TD and Schwab now. Schwab is the one I want to work for the very least, no questions. it su-ks that the schwab severance is about half what Riney would have paid a severed Scottrade employee. But considering how uninspiring these guys are to work for, I would take the money.

Schwab employees are also on the chopping block. We’re not happy with any of this either. Between the RTO email which was unnecessarily aggressive followed by Walt sternly telling us in town halls that they’re NOT changing anything then the vague layoff email leaving us with more questions than answers then the oops, we didn’t know how to plan this correctly and need more time to figure out real estate and who we are going to layoff first so you will return in January instead email (the email we were told wouldn’t happen because they’re NOT changing anything!!). They have done nothing but play sick mind games with us for the past 2 months while working to us to the bone. I’ve never felt less motivated to work for this company.

Welcome to Charles Schit. We wanna be the Amazon of finance but we are more like the Ghalmart of finance. Trust that blue side here is over worked as well. It's usually one onshore developer per team if you work internal apps. So like if you a low level starting onshore associate making 80k starting you will have to lead the dev team. It's a lot of responsibility for some people who probably don't have enough experience. Why they think this is a good idea? I'm not sure. Maybe the BA's like the control with offshore or management is just not technically savvy. Either way some teams are lacking the right technical leaders cuz this place is full of talkers talking in meetings and not enough doers doing the things we need.

Just remember, mgmt gets bonuses and promotions due to how well their team does. The will stack rank their teams, high performers that aren't HR issues will be last on their list. That doesn't mean you be okay if your department gets wiped, but you will have a good chance of finding another internal spot potentially.

They need to make some decisions because the anxiety is horrible doesn’t make work enjoyable. It’s hard to be productive not knowing. They said my department was safe too but I don’t trust them. They told us they aren’t going to backfill our team manager role.

@1kwn+1o5thNWX My department on the green side has half the amount of employees, does twice the amount of work, and has exponentially more work to do in the first place versus blue. It’s not looking good for anyone, but do the math lol

@1kwn+1o5thNWX If you think TD employees are the only ones on the chopping block, you’re in for a rude awakening…

Good luck TDA people it’s not looking good.

Unfortunately, when a company is taken over, there's collateral damage. Control what you can, don't slack, keep doing your best. Things always work out for the best.

Whats become very clear to TD folks is that Schwab is a poorly run company.

Schwab ruined TD

Schwab's leadership is ruining the Schwab that Chuck Schwab built.