For those folks who initiated successfully short term disability, prior to the layoff our employment, we made out. As we are disabled, and not able to work, the 60 days starts when we are able to come back to ‘the office.’.Until that time, we... — read more 

So cute to see people try to spin things positively, I love LinkedIn!

What has offshore delivered for being 60% of STS?

I cannot access the online separation resource site to sign back the severance agreement. I get an error message. Do I have to wait till the notice period begin to login? My notice period starts Nov 6. Anyone has the same issue?

Myconnections updated so laid off people are removed. Looks like they eliminated two levels of management under Walt — 12 to 10. Total employees have gone down 2368 since August.

Through Sedgwick, should I file for unemployment? I don’t believe I can collect both. What do you think pays more?

Charles Schwab was a good company to work for back in the day, go find your own tomorrow

Anyone with approved Sabbaticals in 2024 know if your notice date or termination date changes? For those with pre-approved sabbaticals, you start them Tuesday 11/7 but what unclear is whether your notice period and termination date changes. Or are... — read more 

After Schwab layoffs I feel totally betrayed… I have been in the company for more than 10 years with good results even do I was fired in a horrible way. During my stay I took too many Ethics and Values trainings in which they basically say we should... — read more 

I was once a Schwabby. I bled blue. I remember Chuck visiting us on the front lines. It was a time when Schwab was committed to its clients and its employees equally. It started to radically change over a decade ago. Loyalty to the employee... — read more 

I thought I’d be upset, but honestly I’m relieved. I really feel for those who’ve posted about their mental health being affected by this. I’m so sorry. I’m sending hugs and I’m sure we will all be ok. Anyone else just relieved? I’ve gotten a couple... — read more 

I was laid off but have questions on what happens to my vacation leaves - will they compensate that ? And what will happen to the ESPP stocks ?

Thanks to the person who suggested filing for unemployment. Great idea that I would have never thought of! My state's application asks for last day worked. Do you know if they will pay unemployment starting now since we are technically employed... — read more 

They let us wait and stress and worry for more than six months. That's how long it's been since we first learned about mass layoffs happening. What kind of people do that? And even now we can't return to normal since we know more cuts are coming at... — read more 

(100) Assess your finances and create a budget for stability. (101) File for unemployment benefits to ease financial strain. (102) Review your severance package and negotiate if necessary. (103) Update your resume with recent achievements and... — read more 

I got laid off and ended up needing psychiatric help. F*ck the EC and every leader who made the decision to put each name on the layoff list. I hope you’re smug and satisfied now justifying making me and obviously others feel this way. Thanks for... — read more 

So I was effected (level 57) and I’ve been mentally preparing for it to happen since it was announced. Mostly because I read between the lines and just felt like I was making the most out of all other 57s on the team and this was a pure cost cutting... — read more 

Would like know any more layoffs in near future

I was laid off yesterday and today folks are calling me and asking me work related questions. Should I have to answer them? I am in a dilemma.

If you go to Glassdoor.com, search for Schwab and then look at Salaries you will see salaries submitted by employees. There are a lot of managing directors with total compensation of well, well north of $200k. So a 2000 headcount reduction hits $500... — read more 

Send more jobs Offshore and layoff people here. No one is managing Offshore properly even today right after these massive layoffs, Offshore account managers are lobbying to add more people into teams. I am not lying, go check for yourselves.

I've watched these Schwab posts for a long time - watched as my team did little work and worried for months - watched "leaders" only show patheticism. So now that the lazy team survived, they want to ensure they get a bonus they completely don't... — read more 

Not impacted by layoffs but part of reorg. My sincere empathy towards the impacted and hope you find a better place. It’s a vent out post, feel free to ignore to read further. Been with Schwab for over 7 years and been having the feeling of... — read more 

Severance package letters, state a full working year is calculated as 264 days, math? Logic? 🤣 Same as SVPs decide who is let go, when they dilont even know the names, A BS move followed by a more BS move, you factor that to 2000 employees gone, it... — read more 

Laid off folks only - please post your age and any medical expenses/ ER visits in last three years. I saw something interesting in another post which said Schwab manages it own healthplans and costs.

Even if I don’t get the job it will be a major morale booster for me. Been feeling borderline sui-idal for the last 48 hours but now at least there is a glimmer of hope. Sc--w you EC for doing this to people with children right before Halloween. — read more 

What are your thoughts on Schwab's Lifers? I still see many of them around but many have not upgraded their skills in decads.

This is a honest question. I am not trying to pour more oil to the fire but I think this is a legit question. Maybe the board should think twice about what's going on on the ground.

The plan has some merit, many risks though, it'll be very hard to implement. Restructuring a very large and complex organization requires careful personnel decisions - promoting the right people and removing the wrong ones. The execs think they are... — read more 

If you have been a Director for a long time and you are ready to be promoted to Managing Director you may think twice before you make the move. You saw what happened and how agressively they went after MDs. The biggest risk is becoming an MD... — read more 

Just feeling suffocated left behind . And you having to pick from the puzzles of those who left . Seriously I feel it would have been better being part of the culling than the left overs . All these stupid org announcements and meetings upon meetings... — read more 

What is pros/cons if you send the early termination form even without getting new job? Do I get immediate payment of the base salary for the remaining of the notice period and a lumsum of the severance package? I don't have health/dental plan with... — read more 

What salient points would you make both negative and positive?

It is tempting to not disclose a new job, but per the severance agreement (which I am still trying to clarify with HR), you still get the severance if you get a new role outside Schwab, but you don’t get the bonus of you get the role before the end... — read more 

I know a couple on my org other than myself were impacted. But it seems like fewer lower level IC’s were let go, so I am wondering if it was pay. One of the IC’s let go was recently promoted and we both had stellar performance reviews. I’m confused... — read more 

A few years ago when I was 55, I was laid off from Schwab. A few months later, the management posted an opening for my exact position but listed the total compensation at about half of what I had been earning. This is a deliberate management... — read more 

This is just to document things on this board so it starts to show up in Google searches, people want this info but it's hard to find. No need to reply. We closed offices in five cities between August and Monday’s layoffs: Atlanta, San Antonio... — read more 

Atleast now can someone share the criteria behind selecting the names? So who is next on the list? We lost some brilliant people from our team, the criteria couldn't have been performance. Will there ever be transparency at this place?

If you've been let go, try calling HR - haha, on wait so far 25+ minutes... Can't get into workday externally because of password issue. HR has to re-set. Of course the instructions in the severance docs are not correct. I guess they're extra... — read more 

The SPD defines annual business days as 264 and uses this in the denominator to calculate everyone's severance payout. Industry standard is 260 (2080÷8). Looking at the calendar and counting the days, 2023 is 260 and 2024 is 262. 264 seems... — read more