Thread regarding Charles Schwab Corp. layoffs

someone was running a script like python or similar to downvote this page. The Layoff.com admin should investigate. The up/down votes here became meaningless..
let's be honest: fact is fact, Let's move on.

Walt Bettinger and his team of sycophants have been drinking at the trough for years at the expense of employees. Several years ago poor investment by the firm led to seere financial issues. Staff already underpaid were severly affected with 70% of already low bonuses while senior managers and Bettinger still paid themselves handsomely rather that taking responsibly for an issue they created.

Very little if any advancement opportunities. Salary structure that doesn't nearly keep up with inflation. Wage growth has been negative in real terms for years. But for many they are caught in the trap of this meat factory.

The firm attempts to lure young college kids to man the phones for what I did in jobs. Hopefully many of them realize it before too much time has gone by for those who let a decade go by unfortunately, they get trapped at a firm that is rife with false promises of career opportunity. I know first hand as a former Managing Director I always felt embarrassed by the year end review process, minimal bonus and merit increases for many long and (foolishly) loyal employees. Schwab speaks out of both sides of their mouth. Rarely delivers on promised opportunities and rewards politicians that create processes and procedures that are merely smoke and mirrors to superiors that have no idea that the subordinates that run teams and departments below them are merely delivering meaningless facts and figures. It reminds me of a Monty Python skit where the "Administrator" Goes in to an operating room and the Doctor rolls out the Machine that goes "Ping". The machine actually does nothing but the administrator (Senior Schwab management). says " Oh wonderful I see you are using the machine that goes PING!"

These meaningless progress reports and processes do nothing other than irritate the teams as they realize that their useless self serving managers are merely managing up to an out of touch clueless management class that also could care less about the staff and health of the firm.

I have worked for several corporations over my career for me this firm was the worst. These are my observed opinions and experiences some may, and certainly are free to disagree.

I bet this post can get a million likes/dislikes before anything else on thelayoff.com
#HR #BOT #PR #1SCHWAB #CLIENTSEYES

Terrible firm terrible management....underpaying people trapped in a bad economy. Abusive management practices! Feel badly for anyone joining this meat factory

Guarantee the firm hired an agency to downvote this thread. Bettinger was a phony self serving and damaged a lot of people. In a year where he paid bonuses down 30% because of foolish investment in treasuries with cash sweep he paid all down but still took over 20 million in compensation for himself! Disgusting human being! Glad to see someone is paying a publicist to downgrade all these negative comments! Just remember walt....easier for a camel to go through the eye of a needle than for a rich man to gain eternal life.

It was never about the money.

It was about who gets it.

He gave himself a year to quit and kept collecting all the benefits of being the CEO. Keep that in mind... while the rest of us got axed immediately. What he earned in that year's timeframe probably could have covered the cost of all those laid-off. Dispicable

Walt Bettinger: Destroying employees and their families since 2008.

Downvotes on this thread are almost 1:1 with the upvotes

Morale hasn't been this low, but Dave was much, much, much worse.

By far, with wb and ec, this is the worse leadership this company has ever had . But employees were and are what make this co a stand out.
With the self absorbed , narcissistic former ceo out, we can make headway to quality treatment of employees and ultimately higher share price. Stopped listening how wb kept bragging of the biggest merger completed. I didn’t hear it was the best, just the biggest. With him gone, Let us now hold leadership accountable for their over inflated salaries .Leadership/ EC, You are getting millions. Why?.What suggestions , strategies did you put forth that created an uptick in share price. What employee did you hire ( not talking cronyism)that was successful in their previous job to turn the morale around here. If you hired someone to be remote, leave them alone. Leadership, Have integrity , let them stay remote. They are missing nothing being in an office. Trust and integrity have been missing for a long, long time. Also, Stop spending money on surveys, here is your answer,
no one trusts current leadership. No one. Leadership /EC, put your collective expensive heads together and be the game changer you are paid to be! Schwab has so much strength , AND potential .Let’s make 2025 the best this company has ever seen and match our competitors per share price of hundreds per share .

oh but he reaps the benefit with a smile on his face with all the $$$ he got - good riddance and to all the other higherups who left because he was retiring and they might be exposed

100% agree. I don’t think morale was even this low in 2008