Thread regarding Charles Schwab Corp. layoffs

Rolling layoffs, fear, exhaustion

It's odd that nobody has posted about the rolling layoffs that have hit various orgs in the past two weeks.

Are people just scared?

The job market is fried. Everyone is terrified of speaking up because it might mean it's their head on the chopping block. Teams are crippled by fear. And we hear...silence from our leaders.

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| 3291 views | | 13 replies (last June 28) | Reply
Post ID: @OP+1jxfyfg6e

13 replies (most recent on top)

I see few leadership tech positions hat I have seen a year or so ago posted again. Is this due to layoffs, change in management/reorg, or the people resigned?

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Post ID: @2qa+1jxfyfg6e

I have 5 departments I work with and all 5 are currently hiring people in various levels up-to MD2.

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Post ID: @1mt+1jxfyfg6e

Most groups hit. Total around 300.

White pages under Ricky. Watch total reports changes.

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Post ID: @12k+1jxfyfg6e

I am aware of layoffs in Marketing and Compliance about 3 weeks ago. Unsure of any other depts or total numbers.

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Post ID: @11h+1jxfyfg6e

There will be regular smaller layoffs that run below the radar and won't trigger WARN Act compliance. This is a strategy a lot of companies are using now, including other companies in the financial services industry.
https://www.dol.gov/agencies/eta/layoffs/workers

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Post ID: @ed+1jxfyfg6e

Remember, HR works for the company. You have to definitely prove your case and be right to get anywhere with those fk heads. It is scary to push back but it does feel good not letting the corporation get away with their st. Maybe we should bring back the guillotines...worked for the French with their tyrant.

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Post ID: @e5+1jxfyfg6e

To the last commenter, thank you, very helpful.

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Post ID: @cw+1jxfyfg6e

The current layoffs are part of silent quarterlies. HR does a great job hiding them. A few people have a white pages script that grabs the count to see how many were let go. Layoffs and PIPs remain SOP.

Document everything good and bad and keep offsite. Take pictures of your screen if you have to. Make audio recordings. Some states don't allow this. Policy doesn't either. But you'll be happier having a case if you're targeted. And everyone could be targeted especially if you have been here for a while or are older.

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Post ID: @cq+1jxfyfg6e

Sabbaticals, vacations, sick time and FMLA - don't stand for any harassment about any of those - got to HR - they can't ask about any of that time off - if they do get a lawyer - protect your rights. And if the are badgering - read up on the laws in your state and call them out on it - then head to HR

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Post ID: @br+1jxfyfg6e

In my team contractors are being let go and those contract positions are not being filled. Other Senior Engineers are picking up the slack and some are working on 2 teams. We are reporting this in clarity. Managers, MDs and Directors are enjoying WFH. Morale is super low in my team and people are fearful if they speak up they might get the axe. So they show up 3 days a week at their desk to get their paychecks. I've been hearing stories about managers bullying individual contributors about Sabbaticals and FMLA. It was a much better vibe 5 years ago.

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Post ID: @bq+1jxfyfg6e

That is because there are no real leaders left. Fall in line or be shown the door. Horrible what it has become, it’s sad honestly.

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Post ID: @ba+1jxfyfg6e

OP do you mean departments? And if so, which departments?

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Post ID: @ap+1jxfyfg6e

Which orgs

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Post ID: @a5+1jxfyfg6e

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