I'm praying this is true and we'll know tomorrow.

Directors with at least one impacted employee are currently on a call receiving training on how to lay someone off.

There are plenty of articles out there that are shedding additional light on the criteria for what led to these layoffs. Schwab has stated that the layoff would only effect roughly 1000 employees and the rest would be real estate. But the math aint... — read more 

Not because they suddenly decided that we are an invaluable asset that should be treated as such, but because they've dragged this long enough that maybe enough people quit negating the need for cuts. They created a horrible and unhealthy work... — read more 

here is a new thread for anything you might have heard from a peer, in a meeting , in passing, or in a meeting, from your leader, or in a meeting....share it here!

I just wanted to post this before the crazy starts… If we crossed paths at Schwab, it was a pleasure working with most of you; The others need to get some professional help. 😂🤣 Regardless of who you are, take care and good luck to those who... — read more 

https://www.businessinsider.com/stephen-schwarzman-accused-remote-workers-of-not-working-hard-2023-10 Make you wonder about the EC and the thousands who successfully drove the largest finserv merger ever while working remote.

The silence on layoffs is totally tone deaf, besides everything else in that "update". They know this is on the top mind for all employees, and not even mentioning it is sad. At least they can say a few words like we still working on it, we know this... — read more 

With discussions happening tomorrow, any one hearing about this?

Yes, what a timing and topic for the CTO FORUM today " ZERO TRUST". Do you all sense a hidden reason behind that topic?

As the title says, this is a purely speculative post with what i have heard in regards to the potential date. not an MD, not under NDA, just someone who has heard some things that makes sense...although, nothing makes sense... Recent convo with... — read more 

If you got a Private Appointment email with verbiage like ‘…please do not share this with others’ that is set for tomorrow you are likely …. safe? If you didn’t, you are likely …. gone? I got it, three people I know didn’t. IM’d my MD, … crickets... — read more 

I'll be honest with you, if I had to choose between having to RTO and being laid off, I'd happily choose the door. I worry much more about that than layoffs.

The layoffs numbers are far more than we expected in excess of 10%

for managers and up..do we think any real info will be shared or will it be a verbatim echo of the earnings call last week? or will they tell us how great we all are?

Confidential information on organizational update posted late Friday. Good luck this week.

Other than brown-nosing, that is.

Don't give them what they want. We lost a great team member last week because he was so tired of it all. I think he made a huge mistake. He's good enough to find a new job whenever he wants and if he had waited a bit longer, he could have walked away... — read more 

Especially those talking about 10/24. Interesting…

When you get laid off you are told you can reapply in the future. This helps the company save money because you don’t have to be re-trained or forge new relationships. Apparently Meta and other tech companies are having problems because not enough... — read more 

And upper management. They have NO loyalty to you. Answer 1 or a 5, they have NO accountability. At the 11/16 EC Townhall ask the EC how they will address the EC Glint question. No one will ask and none of the EC will answer. It’s a throw away... — read more 

This gets under my skin... if things are so bad that travel is banned and positions are eliminated, why are we giving away money?

Hmm is the restack at the Phx Peak showing either terrible timing (left hand doesn't know what the right is doing) or great timing (their desk is already packed...). Anyways, I'm either moving desks or moving out next Friday lol.

I have been working above my level more a long time now. I would have to struggle if I made a major life purchase on my current salary. Company can't promote me because "budget." I started applying back in July but jobs were limited. I am now seeing... — read more 

The geniuses in HR just purchased a multi million dollar ‘career development platform’ In the middle of cost cutting and layoffs. But hey, at least we have a machine that will suggest jobs for us to apply to and training to attend!

All the freezes are putting client experience in jeopardy. EC, you are clogging pipes that you don’t want to burst. I’m not posting because I want to leave, I’m posting so we can get help to the teams that need it. Open up recs, get contractors... — read more 

Maybe the EC, similar to the Duke brothers from Trading Places, bet $1.00 to see what would happen with this social experiment. Sigh.

“I have confidence in the executive leadership team (Schwab Executive Council).”

I think that is the whole point of this.

Layoffs will happen this year as stated in q2 earning call. Looks like CS is not behind saving every penny. Instead they want to complete the transition, wait a bit and then layoff people before the holiday season. They don’t really care to close... — read more 

there was a post on lay off process but can’t find it anymore. It is done by supervisor in one on one meeting. Is it done in a meeting at beginning of day or end of day? Will network access be terminated immediately or end of day?

Judging by the ever increasing ads showing up on this site, it must be one of the most active company pages.. and that’s not a compliment, EC. It’s a true schitt show.

November 6th it is! It will be immediately after the November TG. JW: Severance | It is not mandatory to give 60 day notice, they can change the severance plan at any time without advance notice. To pacify they may throw in the year-end bonus... — read more 

Title says it all. Go.

I'm wondering if this is an STS org thing (like a lot of the weird behavior I've seen in this company) or just specific to my manager.

smh but not surprised: https://riabiz.com/a/2023/10/7/fresh-wave-of-td-ameritrade-rias-are-speaking-out-30-days-after-schwab-advisor-services-merger-complaining-about-more-red-tape-and-problems-befalling-clients-stress-levels-high

Schwab isn't the same as it was five years ago. It isn't TDA. And folks are moving money. Some laid off may want to do the same. So where is better for customers? Where is better to work? Or is this article... — read more 

Schwab management not being transparent about what's going to happen and dragging its feet on getting this done is ki-ling morale. People are mentally drained and it's affecting productivity. I can't figure out why they would do this to us... — read more 

Here's the latest from RIABIz, which has good sources and pretty sharp analysis. ... — read more 

I'm a PL. I think I'm a good PL. Yesterday was Boss' Day. Normally it's a day that is fun and gives me energy. Reaffirms my love for my role as a PL. Yesterday, the only thing I heard was crickets. I feel my team views me now as in cahoots with... — read more