Any chance Schwab will offer voluntary separation to older employees? I've been here for 17 years and I'd be more than happy to accept a decent package. If they want to get rid of more people, this would be the best way to do it, in my opinion. Let those of us who want to leave go, and keep the people who want to stay. It would be better for morale, that's for sure.
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If you have a good relationship with your manager, then you can let him/her know and see what they can do for you. I know someone who did this last year and it worked out perfectly. But I know someone else who was afraid to do so, because he was worried his boss out of scorn would NOT lay him off. (He kept his mouth shut and was let go.)
But there is no way to officially volunteer.
There is no official program for this, but as others have said many people have unofficially volunteered to their manager over the last few rounds with success.
I know they have done this during the last round. I don't think it is highly promoted, but they will make an offer to some people who want to voluntarily separate from the company. I know of at least one person who wanted to retire early in my group that took advantage of this last year.
I would not let your supervisor or any higher up know that you would like to get out - that is putting a BIG target on your back. There may be layoffs in the future with no severance and you would have put yourself at the top of the list.
Some risk involved, but you’re always welcome to let your manager know that you’re ok with getting a severance the next round. If they communicate that to the right person, it would likely happen. The risk is you don't get on the list now your manager knows how you really feel but can be done tactfully if you have a good relationship with your manager, or preferably at least an MD level in your business unit.
Schwab does not allow this. I asked in 2019 when the WSJ leaked the layoff news, I was told Schwab no longer offers this and will not accept voluntarily layoffs because when they did the best people left.
A chance, barely, under Walt. Now that the helm is under Rick, youmcan forgetaboutit.
That’s the problem with this company. Decisions on policy kept due to “The long agos”. It is time leadership (incl dir and VPs) take a real look at the now. Change it up . If you are at Schwab 20 or more years and you volunteer to leave, you have helped build the character backbone and integrity of this co. You have also witnessed the unabashed ego of wb thinking he could be the biggest ceo success by buying td, losing all the gains these 20+ year employees dedicated their lives too. There can’t be many left, if they raise their hand to volunteer for a layoff. Let’s start with goodwill there. Let them. Then Rick , promise to be the exact ,exact opposite of Walt. Company will soar to Dizzying heights.
Long ago there was a situation where someone volunteered and later changed their mind. It was not an early retirement program. Since then the company hasn’t accepted volunteers.
Schwab will never do this because they know the good people would leave.
That’s like moving out of the house and still expecting an allowance. If you’re not happy just leave. Maybe that’ll bring morale up when people stop complaining l