Are MDs and PLs instructed to have a departmental or team meeting to give a status update and tell everyone else that remains that it's all over for their group, for at least now? When do we get the short-term all-clear status? Assuming most groups... — read more 

See posts of people getting laid off, seems like it was tech and some business units. Any updates to this? Which teams were heavily effected? Noticing most were level 56+ Any idea of what is expected to happen in the next round of layoffs after... — read more 

My teammate just got laid off. May the odds be ever in your favor.

I doubt I would have been laid off, but even for the survivors, these times are never good. Schawb's toxic culture is the fault of clueless leadership from the very top down.

Post Org and Team and any details you can provide for other folks

59 PL Here - It is today! - STS PL and just got off the meeting.

Layoffs have officially begun in Move Money

I am not a people leader, but have gone through several layoffs, and know first hand how it went with colleagues and friends that were impacted. Generally, meeting requests went out the morning of, with very little notice. Exception is if your... — read more 

I hope it happens, but I won't be surprised if it doesn't.

Whatever happens tomorrow (more like today) I'm prepared for it. I won't be overjoyed if I'm laid off but I also won't be too heartbroken over it. If there is one good thing that came out of Schwab's disastrous handling of these layoffs, it's that... — read more 

Check your email- 15 min titled Quick Sync

If you really want to send a message voice your frustration on Glassdoor

Just got a message saying that my mobile iron device has been compromised. Does this mean that they have shut off my access already in anticipation of a notice tomorrow? Has anyone else gotten this message?

For stats on those impacted. Please post your grade and title, and if comfortable the area you are in. This could be broad like STS, or SWA or RPS for example.

Jerome Powell started raising rates to combat inflation in March 2022. In his September 21, 2022, press conference, Jerome Powell clarified that the Federal Reserve would continue raising interest rates until inflation is back down to its 2%... — read more 

https://i.redd.it/b34b5qoec7xb1.jpg

I am in little bit worry about maintaining visa status, we will be on payroll till Dec 31st, so that we have another 60 days to get new job? Is that correct?

Many of us were hired across the country, no centers near us. Looks like our Director and two up from them was in the meeting this weekend … are we needing to be concerned even if we are client facing? Anyone know about our group at all… think I’ll... — read more 

Almost there folks. Almost there. I am on the list and headed out the door in about 12 hours. I know many of us are and I want to remind you that you are worth something. This does not define you. No corporation defines you. You own your... — read more 

From what I'm seeing online, it seems that the tax treatment for lump sum severances can vary, depending on whether the payment is treated like regular wages or supplemental wages. Regular wages get taxed according to your W4, but supplemental wages... — read more 

Under CRO - 1st and 2nd line of risks… any rumors? Even though we’ll find out tomorrow

Has anyone heard what kind of impact SWA will experience from the layoffs?

Select your circumstance and may you get what you would prefer.

If you've been through this before, what script can you expect from your manager?

All of us should be confident in ourselves to get the next role. If you get the Monday meeting, vaya con dios. You just won the Schwlottery.

Layoffs and reorg have usually gone hand in hand at Schwab so I am not sure why everyone thinks because there is a meeting that it just means layoffs. Walt has already said there is going to be reorg, so you might be laid off, or maybe just regor'd... — read more 

CEO, CIO, CTO, CXOs mistake and little guys pay for it. Who is responsible for financial missteps. Don't they deserve to go first and publicly shamed for decisions? Leadership mistakes, financial mismanagement and Govt shutdowns and little guys... — read more 

60 PL (WAM) here. I fully expect Monday to be my last day, but nothing is scheduled yet. Did your Monday schedule change somehow with any "Catch up" or the like meetings?

Annual Enrollment should be extended until after the layoffs. That will help families decide what to do for next year.

Or are you supposed to find out the day of?

I received my "meeting" for Monday morning at 8:30 CST. Its all good and expected with the current company health. It is all OK! You are going to be OK as well. There are some crazy things going on in the world right now and this is a small... — read more 

Whatever happens this week or later, it is going to be what it is. It is going to su-k on many levels. Even for those who don’t get laid off. So like others have said, we can choose to stay positive and move forward, whatever that means for each of... — read more 

How do you think you’ll respond to getting laid off and a scripted dialogue coming from your PL? I think now that I know it’s happening, if I’m impacted, I’ll probably be stoic about it and really just try and not not be confrontational or angry... — read more 

59 PL here, that has NOT been in any of the meetings... On the eve of the eve at the end of all this, it is what it is and I truly believe that those who are let go, myself more than likely included, will ALL land well upon their feet doing... — read more 

Leadership Failures Leading to Layoffs: Schwab faces the harsh reality of implementing layoffs due to leadership failures: poor strategic decision-making, lack of adaptability in changing markets, and insufficient contingency planning. The EC at the... — read more 

His Teams status just turned green. Will let you guys know when it is in "In Meeting" mode.

Thanks for 3 months of Fight or Flight anxiety Thanks for creating an atmosphere of anxiety and insecurity Thanks for driving good people out of this company and driving morale into an abyss Thanks for not understanding interest rate risk Thanks for... — read more 

I understand the anxiety and frustration everyone has. If there is a bright side, think about how many people have left on their own for greener grass, then realized they made a huge mistake and came back for the amazing culture? You don't need the... — read more 

So let me get this straight… Schwab “leadership” is having HR (some of the lowest paid employees at Schwab) work Saturday and Sunday right before a major family holiday because they (the highest paid employees at Schwab) failed to execute a timely... — read more 

Schwalloween Indeed!!! Report this and delete this! Please post the updates from weekend meeting here.