Hey team! Could anyone provide the deadline for COBRA selection and the termination date for our benefits?

As far as I understand, the benefits will terminate the last day of the year for those impacted in the first round of many numerous layoffs. How best to utilize what we have left in this time? I’m talking everything in terms of medical, dental, EAP... — read more 

Those in impacted areas in this wave will escape what must be coming next. 2k employees does not get us to the magical $500m in savings. My guess is call centers and people just doing integration will be taken out 30 days after the last TG. ... — read more 

No need to name names. Just orgs / teams.

Starting to get some detail on this… 20% of MDs and 15% of directors were let go yesterday, compared to 4% of individual contributors. It appears the approach taken was by percent of the level vs a raw total. They wanted to cut out an entire layer... — read more 

I know it's over, but I still can't relax. I barely slept last night. This whole thing has really messed with my mental health.

Do they have a way of finding out if we take new jobs before the WARN period ends? I want to look now and accept something if I find it but don’t want to lose my severance payment.

We lost 2 level 58s. The process supposed to be inverse pyramid but reality seems opposite. Most impacted were from grade 57-59 and not hearing any of MD and above impacted. Anyone heard otherwise ? Anyone has number how many people in STS(... — read more 

I guess we're now expected to take on their workload as well? I won't. I already have more than enough to keep me busy and I have no intention to gift Schwab a second of my family time anymore. They can figure it out. If that means they decide to... — read more 

Did anyone get to find out what the Severace package is?

Department of Labor can be user for missing wages such as unpaid overtime. You can also lodge a FINRA arbitration to put them on their heels. Never got paid for the frequent issues with getting logged in.

Reality is beginning to sink in after the initial numb period. Should’ve taken the job search more seriously rather than the lackadaisical half-assed effort I put into it. Now I have only one goal to focus on. Without this kick in the a-s I may... — read more 

I’ve been on short term disability through Sedgwick and was notified today that I was being laid off. Do you think I’ll still continue to collect short-term disability? Been with TD and then we got acquired so perhaps 6 years of service total. How... — read more 

When we were told about layoffs, I started job hunting. It has taken a ridiculously long time, but by sheer luck, I just got an initial job offer for 25% more than I was making at Schwab. And was just laid off. I have to figure out how to best b... — read more 

I found significant pay discrepancies between people on my team at the same level. More than 10%. Those who have been at the firm longer lag more even after promotions. I discovered that I was on the upper end of the pay band. And now, surprise- I... — read more 

Will there be more later this week?

Every single moment you spent at this company was a waste of your time. There is nothing you can do to change reality. Some of you have spent most of your life here. Believe it. Every single ounce of energy you put into this company was a waste of... — read more 

Please name your role/team

Do we know where we're at now? How many are left to lay off?

Any idea?

Here are some posts from earlier today that got burried in the second page: Impacted- 57 IC within CRM (1st/2nd LOD) Post ID: @OP+1plCO04j Done! Was laid off this morning. Was expecting it but still a jolt. Last day is Jan 5th. Eligible for year... — read more 

If you got laid off, will your RSUs auto-vest? Can’t seem to get a direct answer.

Please say what team you were on/position you had. Was it client facing?

There is an article out here at RIABIZ https://riabiz.com/a/2023/10/30/with-the-swiftness-of-a-lightning-strike-charles-schwab-corp-fires-as-many-as-2000-employees-with-no-public-announcement-affecting-legacy-schwab-as-well-as-td-ameritrade-staffers... — read more 

Branch FC laid off after they said no one in client facing roles would be impacted. Legacy green. I’m glad to be out of the toxic branch I worked in selling mediocre products.

The survivors move on. The ones cut move on, and go on tombigger ans better things, while getting some moce cash in the bank. Hard day. But it finally is pver, whch what most of us wanted.

I’ve been through a few stages of grief today. In the morning I was surprised because I thought performance would help keep me at the firm. But then my Manager and MD were among the layoffs besides me. So I guess I can partly see how they can justify... — read more 

I am guessing ZERO! This whatbis called barking up the wrong tree.

Does anyone have a recommendation of an attorney that would look at this pro-bono? All of the older, experienced and talented employees with lots of institutional knowledge got sacked over people that have worked at Schwab under a year. I know... — read more 

Hope someone familiar with HR terms can answer. Since the end date is 01/05/2024, will I get any of new year benefit? Normally paycheck for 12/18-12/31 will be paid on 01/05/2024, it will contain my 401k contribution and company match plus $250 flat... — read more 

Any insight on non compete in the severence email ?

Does anyone know how many employees were let go?

Why do you think it’s over? The language in the email makes it seam like more is coming.

Remember, there’s tons of remote jobs out there. Don’t let management gaslight you into believing there aren’t. Apply for those jobs. Then work them both until RTO. First day of RTO, Sayonara! You owe this company nothing. — read more 

We have a Director, and few 59's Managers and Lead laidoff. AST Save is messed up, The bad thing ones who was laid off are very good and talented folks! This is BS how they plan to layoff talent and let all projects run by PM's

Having survived a bunch of these I can honestly say there are no survivors. None. Let go, retained… it does not matter. Those who left have the stress of managing their identity, finances and career. Those remaining have the stress of lost... — read more 

Per the president we received an email that the difficult conversations that had to be had were behind us, whatever that means, i havent been on the layoff list but our manager was let go. Sad day, expected with these types of mergers.

Never really was employee and client centered company. 7 years wasted.

Looks like the layoff meteor has made impact with the schwamily… Anyone know what the total size of the impact crater was? (How many people were let go)