Anyone would care to chime in with a prediction about potential Charles Schwab layoffs? Any chatter, news or rumors?
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in STS? or the other dept(s)?
They just happened today
Any insight on this one? Still possible in Q2?
Like @7cdu+1voDyP1m states. STS is long overdue for a major overhaul. They have cut here and there for years but look at the top 5 or 6 individuals that run the show. They have all lasted through multiple cuts and more than a few issues remain to be dealt with. If Rick does anything at all he needs to start there.
Don't forget the background rechecks.
can we do it for Service and contractor, also
Don't forget the background rechecks.
McKinsey is hired to perform an efficiency analysis. If you know that company, all they do is look at short term restructures and people cuts… my guess is 10-15% of STS will be cut by Q2.
Schwab pays too much for its tech - mostly driven by lack of strategy and architectural standards. You end up with vendor/ tech spend that’s out of control. What will suffer here though is middle management and ICs. They need to look at the insane amount of sponsorships in STS and offshore.
If they layoff people; they should take a look at the Omaha BM and ABM.
Also, fake PIPs, then “firing with cause” to avoid paying out severance to long-tenured employees.
Continued 100-300 lay offs per quarter and quiet quitting and hostile workplace efforts. A big layoff will depend on financials, overall market and RTO. RTO5 is likely, especially with a bad quarter.