Employees overworked and unhappy, Senior leadership out of touch. I used to be proud to tell people I worked for Schwab, but now the last two times I’ve met people on vacation, they rant about how terrible the website and service are and how they are... — read more
Same
Feeling stress as a PL over 16 people. Is that how many we will be forever expected to lead? I too wrote reviews for two teams and it was exhausting. CSS keeps making changes and NONE help PLs
from WSJ "Charles Schwab Just Survived a Year From He-l. The Trouble Isn’t Over Yet."
https://www.msn.com/en-us/money/companies/charles-schwab-just-survived-a-year-from-he-l-the-trouble-isn-t-over-yet/ar-BB1h44XH
You want the truth, this sums up Schwab leadership
walt bettinger in 2014 " the firm has positioned itself to benefit enormously when interest rates start to rise. For now we must remain diligent and cut expenses" walt bettinger salary versus the average Schwab employee 150/1 walt bettinger in 2024... — read more
Human Resources
HR is the most poorly run and most miserable organization at Chuck. That is all.
Anyone else in STS burnt out?
Every team we collaborate with is short staffed and losing more headcount each month. Senior leaders don't seem to care much but middle management just keeps saying they have no answers. I was in a meeting today with another engineering team and it's... — read more
Is tools team going to be trimmed?
Just heard rumors, that post March or early May Tools team will trimmed of fat. Not sure, it true or not.
Burnout
Are there any other PL that are leading 25 + ppl feeling burnt out. My department has mentioned victim mindset. Which I find extremely offensive. I am working every single day of the week, I have peers that have substitutes every time they miss a... — read more
Burnout
Are there any other PL that are leading over 20 ppl and feeling burnt out? I am so happy to have a job that I love. I have hit a point where the pressure feels unhealthy. I’m going to consider becoming a non PL. I understand leading large teams, some... — read more
From reddit today: I think round 2 of layoffs has begun
Found on reddit: Today, my coworker and I (both in asset transfer services) got told we were being laid off effective immediately. Of course they tried to play it off that there were "things" I did that were wrong that was causing it. Hmm, yeah... — read more
Why doesn't Schwab care more about losing talent?
I get the need for cuts, but they really don't seem to care about who goes and who stays. I guess we are all just replaceable cronies. It's starting feel like an abusive relationship where they beat you while telling you it's because they love you... — read more
how's RTO going
A few weeks passed since RTO started. What's the gossip on that? How much are you and your colleagues complying with it? Are some people cheating? Any tips or tricks to share? Is HR or real estate collecting data on badge swipes and time sheets?
Nobody is "lucky" to be laid off
Layoffs are the gifts that keep on giving. Everyone should have the experience once in their life so they can see first hand how they impact people’s lives. If you have not experienced it you have NO idea thus the many of the ignorant comments on... — read more
Laid off and I’m here for the comments.
Wow I was just told about this site. I was so pi---d when I got laid off but I got a fat check and start a new job in Feb. It is what it is. But holy cow what is happening at Schwab??? These comments are priceless! Maybe TDA shoulda been the buyer... — read more
So according to Walt today
It doesn't matter that you're the only one on your team at your location or that your team is spread out over 10 locations. What matters is seeing people in the office and water cooler conversations with people you don't know. Please remember this... — read more
Executive Council Meetings…on a Tuesday?
lol, trying to drag us into the office four days in a row to “collaborate,” huh? i see you.
Vaca or PTO
Which one to use up first? I recently had a Manager encourage me to use sick-time vs. vacay. Then I heard it's because company doesn't pay out for vacation days but does for sick days. I'd dig through the hr website to find this, but seriously... — read more
Corporate Winter Update
What are your thoughts?
Stock Purchase regrets.
I fully regret investing any of my salary into the purchase plan...The leadership of this company has tanked the stock. Dump and run or ride this crash course out?
Wild thought about 73%
Senior leaders should be accountable. They should forego raises and bonuses this year and more fully fund the pool.
Schwab leadership a car study: 2014 verses 2024
walt bettinger in 2014 " the firm has positioned itself to benefit enormously when interest rates start to rise, as expected. For now we must remain diligent and cut expenses" walt bettinger salary versus the average Schwab employee 150/1 walt... — read more
Is Schwab Planning to keep Cobol junkies for Next coming decade?
I joined recently, one unique thing which I came across on the Tech side. Bank Still uses lot of Cobol junkies , is bank planning to keep this Cobol junkies for next coming decade? Only good thing most hooked to Cobol , are contractor which make easy... — read more
Why not Send all Legacy Team and Contractor , Colorado to Lone Star State ?
Just Thinking why Schwab , do not send all legacy and contractor to Lone star state ? This will free up space , save the cost , and consolidate all tech in one place. Otherwise what I am seeing we handling 2 System to run process.
2023 W2s
Does anyone know how to obtain access to W2s for tax reporting among those who either voluntarily or involuntarily terminated with Schwab during 2023? Thank you for your help!
Severance
Anyone get it yet? Usually I get my paychecks on Thursdays. This one has yet to arrive.
Noncompete - SAN
Anyone have issues with the non compete? I Applied for a role and was told I’m unable to get it due to them being a SAN advisor and anyone in SAN can’t hire a former Schwab employee for 12 months. Does this sound accurate?
Any word on what (if any) bonus funding those laid off on 10/30 will receive?
Not expecting anything significant given the meager 73% announced for those currently employed, but humor me.
Below Expectations
What’s the over under on the percentage of employees that will now receive a “Below Expectations” on their performance review and get even less than the 73% bonus payout?
Atlassian for the W!
Lessons Learned: 1,000 Days of Distributed at Atlassian. "Using behavioral science to uncover how to do distributed work well. Key insights and practical recommendations to help you lead your (already) distributed teams to... — read more
Blame the feds!
How come Walt is allowed to blame the feds every time something goes wrong, lay us off, and then gets a raise like nothing bad happened?
Glint survey
What are you honestly going to rate Schwab? I hear a lot of talk but the numbers still come in high
Stock collapse
Walt working from home in Ohio managing interest rate risk like a boss.
FU-K SCHWAB
Leaving immediately after I get my bonus. Company is a joke!
Schwab's Culture Problem - HBR Article Explains Why
With so much talk about people being stressed, overworked, RTO/layoff stress, looking for other jobs, it's no wonder I've seen so many of my fellow Schwabbies burning out. I came across this HBR article that highlights so many of the issues that... — read more
Is something going on with the Orlando/ Maitland office?
I checked CRE today as I’m looking to move to Orlando later this year, the occupant count has dropped substantially. I was just wondering if they announced something for the Orlando office?
Remember when you thought this was a good company?
Does Schwab do anything well? Advertising and Bureaucracy and an adversarial employee experience?
Is Modernization Phase Over?
Just got bit curious to find out is Modernization Done , I mean really done? If that is the Case then why we have "feline " team still now? also we have team for "suggestion " they keep changing name like rubber ? Both handling big-iron system? — read more