I've heard from employees there of pending Layoffs at Schwab in Phoenix, AZ. Especially for the tenured employees to hire new people much less cost.
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@vq Tell us you don’t work for, and have never worked for, Schwab without telling us.
Schwab must hand out a large severance to those that are tenured or make more. Generally, this isn’t financially favorable unless they have no tenure…
Performance is always used in terms of lay offs. Reorganizing is a way to enable this so we can remove roles / select low performers or those not fitting in with the culture. Every place is like this with layoffs….
I don’t think that’s technically a targeted consideration for that location but rather an overall trend at Schwab. Layoffs used to be a method to get rid of underperforming employees has turned into a greater focus of high cost employees. Naturally those with longest tenure are often a higher cost and therefore are selected as they are quicker to achieve cost saving. Sadly lots of institutional knowledge has left whether through layoffs or voluntarily due to the toxic culture and leadership does not care. Apparently everyone is replaceable, MDs and above are not held accountable for their elite mentality and approach. Sad to see how bad the culture has changed.
False.
Positions are moving to the GCC in India.
Any proof?
Just naming a city and nothing else?
No departments named, no dates listed, etc.
Feels like this is just bate/trolling.
Sun will rise tomorrow.
That is correct!