Insider info from leadership meeting today.
30 replies (most recent on top)
@gs Is par for the course where Ricky is from. That's why he was hired. Spoke to him once, asked a question, he stuffed me off to someone else to answer it. Some Pres he is, hasn't a clue of Schab's business. But, that isn't why he's here. My question is, why hasn't he accomplished why he was hired?
@1ys o boy I used work once for such manager horrible to work with and very toxic people . He ha hua people who will backstab at moment you turn around. All old guard need to flushed out and no hire durning pre and post flushing from this service firm
I agree with @1ay. H1Bs hired from service firms and from India can go to India. I used to work at this service firm. My manager was fighting for EB1-C. He got a Canada operation job. Rather than working, he was asking people if I came to office or not. This type of manager is filled in service firms. There should be a pause on EB1-C in retro aggressive from 2015. Those who got it need scrutinized. A lot of su-kers, not even STEM. Schwab should follow FedEx, terminate all old service firms. Either hire citizens or hire every one on one mapping in USA in India. Dead wood from service firms need to work.
@1mt Schwab gives 60 days severance to cover the warn requirement. In other words, the notice is posted the same day as the execution.
@OP was there a warning? If they plan to lay off many employees they have to issue a warning and it is in Corp communications? Was there a warning?
@y1 The only reason you are hired is because you are affordable. Do you seriously think the reason companies are outsourcing to a country where open defecation is normal is because you have a skillset no Americans can do? It’s because you’re cheap. That’s it.
Why to do layoff ?? Just give visa employees an option go to gcc or else ?? It will save Schwab from bad press and reduce add count . Specially start with 02 useless mo--ns .
@y1 you seem upset
@y1
Coding can be done by Windsurf, Cursor, and many tools. I use an MCP server that does the following:
Read Jira
1) Take screenshots of errors or development
2) Write test cases
3) Test my application
4) Deploy my code in non-prod
5) Ask to test and confirm
If I say failed:
6) It goes to Splunk and AppD to check errors
7) Fix based on error
8) We have ensemble implemented where 4 AIs do the job and they vote for the fix
9) Code deployed again
Process repeated until fix happens. Whole spring both of work in 1hr. This I earned when moved out of Schwab. Coding is not flex.
FAANG is doing heavy layoffs. Hopefully, you're not hired to save some other...
This process is known as saving your dog.
This is how the process works:
A) Hire externally when you know your department is going to have layoffs
B) Give heavy boost in pay so goat can join
C) Let goat graze some grass
D) When memo comes with 3 selection, give Goat name
E) Since goat gets more grass and new to land
F) Goat is sent to chopping block
G) If goat is a citizen, he may land somewhere. If Goat is on Visa, then you know what happens.
Will you go GCC with an India company or Schwab?
are from garabe team which is mention in post?
This place is a Joke. So many American Born Managers and Directors and MDs with little to no Technical Skills in STS. So much hate towards H1Bs. Grow a Neuron and learn to code if you can't shut the F up and pay people who can. Just got my H1B renewed got a job offer from a FANG company and I'm GTFO of here. Bunch of useless Mo--ns all the way to the top including its founder. You manage 10 Trillion but act like its your 10 Trillion. Get a Fu-k!n reality check!
@q0 Consider the number of employees currently working on Visa who are not full-time (FTEs). We could relocate FTEs / Non-Ftes on Visa to their respective home countries. I wish O2 team , must transitioned to India, either to contractors or Global Capability Centers (GCCs) whole team should be pushed to GCC.
I heard from a good source quarterly for the next two years starting with those cuts in March.
@q0 I am so sick of outsourcing to foreign countries, but most of all to India. This is such an unethical, immoral practice, and it needs to be banned yesterday. Companies should not be allowed to seek profit motive at the expense of American labor. I’m so sick of everything in this country being for literally everyone BUT people born in America.
STS orgs have been given cost savings targets for each of the next 3 years to migrate to the GCC (Schwab India). The party line so far is that all of these savings will be achieved by reducing offshore vendors, contractors, and professional services but looking at the numbers for my org, there's no way we can hit these targets without reducing FTEs. Maybe -- MAYBE -- this is just by backfilling attirition in India, but knowing all that I do about our financials, I'm having a hard time seeing how these targets will be achieved without layoffs.
Buckle up.
They manage clowns like you who can’t figure out which way is up.
I see lot of directors reporting to directors and MDs reporting to MDs too may useless and clueless leaders. What do they even do on a day-to-day basis ? AI can send all the stupid emails that these folks send for pennies. I would get rid of them all.
They generally do layoffs mid-month at quarter end. So beware mid-June.
@gr Doesn’t matter, green line has to go up for shareholders and anyone whose comp package includes equity. Rick and the EC literally could not care less who they have to fu-k over to see that share price keep going up.
After Rick just got done saying we had a record breaking year…
One thing is certain is that Anonymous Source Guy is never wrong.
@g6 that is not true I just got on.that site.zndd it worked
The Fidelity page is down the way 👉
@ba It’ll likely be among departments/teams that aren’t client-facing and redundant management positions. Core and almost every T2 group are running on skeleton crews with atrocious service levels.
@a1 never any evidence with these posts. i think op is fishing.
Source? Trust me bro.
can we start a nomination process?
Hope they’re soon
Woohoo!
When? What teams? Where? Details please.
Any evidence including dates or sources?