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

Anyone know how layoffs are determined?

Monday over 2100 people are being let go and then we get to dial in to all hands meetings to hear them tell us how great of a job we've done with the transition and how difficult this year has been for so many. And next we get to learn about yet... — read more 

Not that it’s easy to decipher the truth on here any longer but does anyone know what the expected impact will be (#’s) Schwab: TDA: Sounds like there will be impact for client facing / branch low performers

I recently joined Schwab a year back and thought very highly of the firm, but the way it is handling the layoffs plus the mangers that I worked with, I don’t think it is a great firm anymore. There is som many hierarchy here and sometimes I feel like... — read more 

This is how you can confirm: Add your directors and managing directors to the invite list. Don't be shy - add a bunch. Click on "Scheduling Assistant". Find someone that is stupid enough to share a calendar. Go on, don't be shy now Look... — read more 

All of my directors in charge of client facing phone reps have the same secret meeting except one. I guess she is getting laid off too. What another lie from the EC

Was the optional HR meeting invite for this weekend sent to ALL PL’s? Or just those who dept is impacted?

Saturday and Sunday directors and MDs have a meeting invite from 1:00PM - 4:00 PM CT entitled "Optional: Live HR Support for Managers". Based on this, there's no way that this isn't happening Monday or Tuesday at the latest.

So is it the 2 months PLUS the minimum for job level?

It sounds like next week, is it. Wishing each of you strength and dignity as we navigate this change. Let's support one another and face this challenge with unity.

My wife just lost her job today now I might get laid off next week. I hate this place

For the vast majority, if you’re being laid off you’ll be told on Monday morning. If your direct leader is not being impacted but also wasn’t part of the NDA group, they’ll receive confirmation of who they’re to lay off (“the list”) today and will be... — read more 

That's it. That's the post.

So nice to login today to the latest At Schwab bullsh-t “news” highlighting another topic nobody cares about. How they have the nerve to even use the word empathy at this time is appalling.

We all know training has happened for mds and then all notifying managers. Next step notifying managers receive the names... Guessing that will happen today if layoffs are Monday or Monday if layoffs are Tuesday. Either way we all know we are... — read more 

Barely slept. Stomach in knots. Hoping todays the day so I can finally know and process. If not today let it be Monday or Tuesday please. Harder to deal with anxiety and uncertainty every passing minute.

Now that we’re all still mostly remote, what is the most proper way to say goodbye to teammates? I still want to be professional and keep my dignity, even if I’ll probably feel ashamed when it happens. Do I send out a mass email and BCC people? What... — read more 

Tomorrow? Monday? Tuesday? Or 11/3 Friday after bonus payout? Sick of waiting. But let’s wait some more because Rick or whoever said all we can do is control what we can control. This won’t impact ECs. They don’t live paycheck to paycheck. Even if... — read more 

(Forbes 10/26/23) -- The top banks in the United States have been quietly cutting 20,000 employees throughout 2023, and more job losses are coming, according to CNBC. The layoffs on Wall Street are a worrisome sign of the continuing broader economic... — read more 

I've been having this sneaking suspicion that those that are going to be closing out TDA are likely going to be the ones, out of the alleged small percent of employees that were on top of the inverse pyramid that keeps getting mentioned by Schwab, as... — read more 

Do you thing teams that have open reqs can still be impacted? I’m thinking if this is being decided by third party consultants no one is safe from layoffs. Am I right with those thoughts? Or do you think these third party consultants remove... — read more 

What would it be (profanity, sarcasm, humor, and haiku welcome) For me it would be: Do you plan to take a pay cut and accept a 0% bonus and stock grant in solidarity with the 10% you terminated. Frankly, any exec who uses the term ‘expense event’... — read more 

layoffs are just the start. i am significantly more anxious for the re-org. there is a lot more too that then just shuffling some teams. with the way layoffs and RTO has been bungled? this is going to be a spectacular mess... first: leaders will be... — read more 

Here's what I've pulled together from threads on the Layoff, official communications from Schwab, the Fall Corporate Update and stuff I'm hearing in conversations with leadership. Layoffs happening in Q4 this year and again in 2024. Layoffs... — read more 

Whether I am laid off or not, I don't plan to stay at Schwab. This whole ordeal has been handled so poorly that it has snuffed out any desire I might have had to continue working here. The only reason why I'm still here is that I'm still waiting for... — read more 

I sure hope we get that G-note in November. Can surely use that.

Should we wear all black Monday?

I see this on a Director’s calendar. Have a look yourself to see if those PLs in your org are invited. Don’t know what it means, but simply reporting facts.

https://www.youtube.com/watch?v=AiOUojVd6xQ This gives me confidence about our layoffs if led by a consulting firm :)

She calls out to the man on the WALT street "Sir, can you help me? It's crickets and I've nowhere to go Is there something you can tell me?" He walks on, doesn't look back He pretends he can't hear her Starts to whistle as he crosses the street Seems... — read more 

Drawn-out layoffs are a sign of sadistic leadership. We hit a jackpot with both.

Will the exit package be the same as what is listed on the intragoogles? Hmmmm.

I'm praying this is true and we'll know tomorrow.

Directors with at least one impacted employee are currently on a call receiving training on how to lay someone off.

There are plenty of articles out there that are shedding additional light on the criteria for what led to these layoffs. Schwab has stated that the layoff would only effect roughly 1000 employees and the rest would be real estate. But the math aint... — read more 

Not because they suddenly decided that we are an invaluable asset that should be treated as such, but because they've dragged this long enough that maybe enough people quit negating the need for cuts. They created a horrible and unhealthy work... — read more 

here is a new thread for anything you might have heard from a peer, in a meeting , in passing, or in a meeting, from your leader, or in a meeting....share it here!

I just wanted to post this before the crazy starts… If we crossed paths at Schwab, it was a pleasure working with most of you; The others need to get some professional help. 😂🤣 Regardless of who you are, take care and good luck to those who... — read more 

https://www.businessinsider.com/stephen-schwarzman-accused-remote-workers-of-not-working-hard-2023-10 Make you wonder about the EC and the thousands who successfully drove the largest finserv merger ever while working remote.