Keeping it as general as possible and maybe waiting at least a day or two until the news is more widely known it would be nice to have a central thread of the number of people (not names) and high-level groups impacted. We all know HR is going to... — read more 

There will be two groups - first group will be in late September after the next big conversion. Second group will be on Oct 1 or 2 for those that don't show up on RTO. This will allow them to give 60 days notice to each group and then pay out lump... — read more 

I've heard some people are already getting access cut, but for those of us who survive this mess, I think it's time to organize. We need protection. We're not the ones who bought all the bad bonds. We're not the ones who tried to make ourselves... — read more 

I am not sure who I pity more. Those of you that thought this was a "family" and the company gave a crud about you, or the MDs and Directors who are so self-focused and believe that your title means you are important. The rest of the world does not... — read more 

https://riabiz.com/a/2023/7/19/walt-bettinger-pulls-500-million-rabbit-from-hat-based-on-projected-cuts-to-schwab-headcount-and-real-estate-savi “ Bettinger attached a fresh metaphor to his firm's post-integration, post-rate-whipsaw future. “Today... — read more 

Are you happy?

With the recent survey coming out I’ll give my honest 0s and if i get let go it’s because the surveys are never anonymous you heard it here first the EC full of old people out of touch with the people actually doing the work want blood.

Chuck is a bloated behemoth. It's absolutely insane how many layers of management there are. If anybody here has read Pierre Norwood's modern business tenants, it becomes all the more obvious. Businesses run most efficiently with four layers: ... — read more 

Have you noticed that we haven’t seen anyone in management trying to post positive messages about culture and collaboration now that they know they are a main target in the layoffs? Elimination of hierarchical structures and non client facing... — read more 

Remember to keep checking the WARN notice for your state. Chuck will have to give 60 days notice and we will be able to tell what jobs are being eliminated. I do not yet see anything on mine

I am literally at zero engagement. I was already getting overwhelmed with the amount of work I was dealing with and now these layoffs will make it even harder. It’s sad when you used to love a place so much but the executive council has tarnished the... — read more 

As we prepare to wait 3-5 months to see if our jobs are secure, how do you plan to eat your feelings?

Spending 128 unpaid/unproductive hours per year commuting (more than vacation time) plus an extra $200-300 in gas, etc. for the "privilege" of sitting elbow to elbow - yes, it is sooo important to my career. Not to mention those that have to pay... — read more 

Do you think that they (mgmt) often change things just for the sake of changing things?

I've got so many followup questions about the layoff, but don't want to post or comment. I am afraid someone would identify me.

We had layoffs a few months ago in IT...why didnt they just take care of it all at once? Should be interesting to see how much more fu*ked up this place can get with even less support.

Estimated 500M reduction in expenses, assuming avg. salary is 200K. Hence, 500M/200K=2500 employees is the golden number to be let go

I'll go first - 4 And based on the bush league mess they have made over the past month my guess is all 4 MDs are still there come December, and instead, the ED decides to cut 20% of IC's that actually do the work supporting client experience.

It's not fair that thousands are gonna be laid off and you still make more than all of us. You'll try to pretend your bonus or stock options are way down, but that's still millions. Where's the responsibility?!?!? Why don't you do the right thing... — read more 

As weve all seen they are planning on laying off a lot of people. My question is will this effect Schwab's diversity and inclusion initiatives? Maybe the layoffs are a silver lining and a good thing for Schwab? Right now Schwab still doesn't feel... — read more 

I’ve worked for a few firms throughout my career. Schwab takes the cake as the single worst place I’ve ever worked. People generally don’t like the work they are doing and don’t really care for each other either. Lots of nasty attitudes to go around... — read more 

any of you brown nosers on here saying that this layoff email we got today was "expected" and a normal amount of cuts given integration, how many low level workers will fall on the kn--e so that Walt can continue to make 24 million a year????? yet he... — read more 

Does anyone knows who will get laid off? It sounds like non client facing roles in closing locations. Would that be all? A few non client facing roles? Also it says they Expect to complete many actions before EOY but when will we know? Can anyone... — read more 

Everyone knew it was coming. Return to office was just a way to get people to quit without having to pay severance out. Now, mass layoffs will be next.

The correct way to organize would be for all employees to continue working remotely as productively as possible. Let’s put up a unified front by not showing up to offices in October, and by continuing to show that we can work from home just as... — read more 

I’d love to do an anonymous survey (truly anonymous unlike Glint) to see how many people believe their Schwab managers/peers/employees/clients would be SHOCKED if they quit? Who among us looks super engaged/happy at Schwab but is actually biding... — read more 

I'm waiting for this survey to arrive, A chance to express, a chance to thrive. Glint's engagement, it holds the key, To unlock insights, for all to see. With eagerness, I anticipate, Questions that'll uncover, evaluate. The pulse of Charles... — read more 

Did someone really think that WFH would become something permanent??? It may not be a popular opinion, but it's not very easy to find another job now so I hope to keep this one as long as possible and so I can't make many complaints. I don't... — read more 

Covid forced them to adopt and offer WFH and now they are back to their old school ways.

Looks like the next employee survey is coming soon, I think July 19th. Let's make sure we let them know what we truly think! They say the survey is anonymous however, the "unique" link will be sent to employees on July 19th. Be on the look out! — read more 

Thus is not a great company to work for. They don’t care about you. They will always put the needs of the company over the needs of their employees. Also, the dinosaur CEO is greedy af with his 23 million dollar salary. Avoid this place. It’s soul... — read more 

Have people had any success at getting approved?

Is Schwab Cost Cutting on Indian Service Provider in Information Tech? Why Schwab is doing? Which Indian Service Provider are getting impacted the Most? What is the reason? Next Would Be Schwab FTE target for cost cutting Post Sept Quarter?

The branch network is going through something of an existential crisis. The issue might have predated the pandemic, but accelerated when we grew our FC population from 1400 FCs to 1900 FCs. We experienced meteoric growth and we arguably... — read more 

I’m calling on all employees to band together. Whether you are for RTO or not I am asking everyone for their support. It’s easy for the pro RTO people to brush this off because it doesn’t impact them but wait until they take something away from you... — read more 

Hi, This is my first. Just want to know Schwab cutting Indian IT service provider? Which is impacted the Most and Why?

Most threads are crying about RTO but branch employees have been back in the office fulltime for over a year, dealing with all the BS running downstream from corporate that they have no control over. New initiatives every week, new systems we’re... — read more 

I do not know of anyone that quit (yet). Curious if others have teammates that left already.43