Thread regarding Charles Schwab Corp. layoffs

24 replies (most recent on top)

It's been two weeks and still no new org details. Was there even a plan?

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Post ID: @1vm+1kkvd8415

@bn mid level management loves order takers and people whom do not question authority.

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Post ID: @k4+1kkvd8415

is 3/23 really a possibility?

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Post ID: @h1+1kkvd8415

I think layoffs after review time are pretty common, but I also think there's been a decision that we do these routine smaller number layoffs so we don't have to announce them to reduce headcount overall since the integration. They dont want to spook shareholders and affect the stock price, but want to reduce staffing... I don't see this ending for a while - this combined with the forced attrition they're trying to create through hardnosed RTO policies.

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Post ID: @f0+1kkvd8415

@c2 This checks out, there are also people who were seemingly already deleted internally and they do not come up in MyConnections at all anymore. Saw this in a few cases just now.

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Post ID: @cf+1kkvd8415

@c2 Holy cr-p. Thank you for this. There are a lot of names and areas I'm shocked to see.

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Post ID: @ce+1kkvd8415

Are they done? I am hearing more dates 3/23

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Post ID: @cd+1kkvd8415

@ba a more telling indicator is that their cost center in myconnections now reads “labor and facilities operating” but still uses your normal cost center code. You can just search than phrase in myconnections to see most of the impacted people… ~115 that I can tell.

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Post ID: @c2+1kkvd8415

My manager didn't get laid off, yet he's the most incompetent manager I've ever seen. Our team had lay offs yet he's on multiple occasions fell asleep in meetings. No joke, our team is literally listening to him snore with his fully open mic. I've actually lost count how many times it's happened.

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Post ID: @bn+1kkvd8415

@az I can second this statement.

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Post ID: @bg+1kkvd8415

@ba though not always the reason, yes it will show as offline for those impacted while their accounts are deleted

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Post ID: @bb+1kkvd8415

Could a possible indicator that someone has been laid off be that their Microsoft Teams status appears as a grey “X” during normal working hours? I’ve noticed that a few individuals who I know were let go are showing that way on Teams.

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Post ID: @ba+1kkvd8415

Too bad it wasn't Rick or Walt being shown the door

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Post ID: @b8+1kkvd8415

STS Dev team had at least 2 layoffs today, one was PL, other was IC.

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Post ID: @b6+1kkvd8415

Heard it was across TRM, 1RMO, and some in compliance.

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Post ID: @az+1kkvd8415

Which org are the layoff's happening? company made record profits. still layoffs is not good for employee morale

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Post ID: @ax+1kkvd8415

@ad me too today

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Post ID: @aw+1kkvd8415

@af which group is this? If its sts hearing its the first wave to prepare for further offshore moves to Hyderabad.

Dennis gets paid to show progress on india investment and his leaders will have goals for end of year.

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Post ID: @ak+1kkvd8415

Hearing of layoffs today too. At least one person I know who has been here about 10 years was let go. Kinda shocking tbh.

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Post ID: @af+1kkvd8415

Seeing reorg emails, but no layoffs that I've been made aware of.

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Post ID: @ac+1kkvd8415

One in Legal so far, that I'm aware of.

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Post ID: @aa+1kkvd8415

because there are - some groups will pull trigger 3/23, but some are going today

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Post ID: @a2+1kkvd8415

because its Monday?

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Post ID: @a1+1kkvd8415

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