Did you guys have the meeting yet? What did training cover?

I'm a transplant from TD and just about everything here is markedly worse. The training, the tools, the expectations are all stress-inducing to say the least. I am honestly baffled that there are intentions to reduce the workforce, because there are... — read more 

Remember to use up your Schwab charitable match funding before layoffs start next week (or whenever). Keyword: Benevity or Schwab Giving This is one of the very few good things Schwab does - they will match charitable contributions up to $1000/yr... — read more 

Having to worry about layoffs 24/7? How did we get here? Who is responsible?

Kidding, would you fire yourself from a million dollar+ compensation?? LOL

I watched this video on YouTube and really felt sad.. I know it is not directly related to us, but I feel like posting it here. https://youtu.be/Q0jhwLkRxBc?si=aqRTNpPesWGx47M9 . How corporate greed is ki-ling the American middle class. It is really... — read more 

While some departments are without work, multiple Ops team are drowning. Without OT getting out of these backlogs seems damn near impossible. Telling people to “work smarter” will not ease the load. Make a decision, get it done and allow people to... — read more 

Reasoning: Nov 1st is exactly 60 days from Dec 31. Schwab is looking to allow affected employees to receive bonus in severance. In order to receive bonus, employees must be “employed” on Dec 31. WARN period is 60 days.

The big layoff in 2019, there were rumors for a month. An announcement a week before and then the cut. Aug 1 speculation. September 10 announcement. September 17th cut. https://www.thelayoff.com/t/VTCKZ1i https://www.thelayoff.com/t/10YNuXSA This... — read more 

After layoffs and reorg, I have this gut feeling that T&D (currently in SBM) will end up under I&O. Anyone have anything more concrete?

seems like most good threads get buried. bringing this back up to the top. highlights from previous threads about this... certain org PL's getting pulled into long meetings friday (13 october) expected announcement on earnings call monday (16... — read more 

Some of your peers were let go 6 months ago today. have you cheked on them? How ironic it would be if layoffs happened today.

Does the lease to the Orlando 1958 Building expire in 2025? Or has it been extended? Surprisingly it was not listed in part of their real estate plans. Thoughts on this?

Realistically though? How many total jobs do we think will be cut?

Don't delude yourself into believing you are safe for whatever reason. I've said this before and I'll say it again: layoffs are not about cutting the underperformers and saving those who work hard or who have the most experience or who might be the... — read more 

Is there any reason to actually believe layoffs/reorg is postponed until mid November? I'm seeing that in a few posts, but that just feels ridiculous. For those who've suggested it, can you elaborate why you believe it would hapoen layer than the... — read more 

What’s new? Is this a “safe” zone?

Can we form a Union?

Any one else find out their new cube assignment yesterday?

All Phoenix employees just received an invite to EC Roundtable on November 14...should be interesting. If anything, I guess it can be guaranteed layoffs & reorg happen before then. My leadership has also said that layoffs will be a mixture of... — read more 

Earlier today I was asked to provide a list of projects I’m working on for a “realignment initiative” with the larger org. It might be legit but I can’t help thinking I’m on the chopping block.

heard it that random HR folks are being "tasked" with extra duties. Basically, answering questions and tickets employees have about "changes coming". they are getting some training on how to handle the questions this coming friday... has anyone... — read more 

Let’s play a game called “Here’s the most id--tic thing I heard a Schwab senior leader say”. Feel free to attribute it to someone directly or not. Your call.

HIGHLY doubtful anything comes of it, but if anything, anything at all productive happens I will post. $TPST

SO layoffs aside pretty sure we can brainstorm some new ideas that we can save big bucks: Remove name from stadium in a place no one cares about stop running ads during primetime sports games cut back on guest speakers who love to talk about... — read more 

Wondering about the odd timing of this Glint survey? That’s why.

If you are not applying for jobs right now, why?

It is a coping mechanism, right? It helps "us" deal with it and have a few laughs in an unfortunate situation. If you are not a troll, feel free to join in a troll post but know this...When the layoffs do start happening this board is either going... — read more 

What happened to my Les Schwab threads?

got an invite for tomorrow with my one higher up. seems like the time is up to say good bye . hopefully its a lay off with severance and not fire you for no reason . Shall post details once the dust settles. take care fellow schwabbies

But in Good news from LinkedIn, Rick spoke to Schwab Interns and told them there is NO hope they will ever be FTEs and the smart play is apply to Chase or WF. Also from LinkedIn, Jonathan Craig completed his 27th year in a hobby most employees have... — read more 

Next Tuesday. We will know next Tuesday. Till then, we can relax a bit. Good luck and take care of yourself and each other. And take it or leave it.

Assuming it's happening "soon" do the direct managers and MDs already have a date and list, and if so, how much lead time do MDs or Direct managers have?

While getting a severance and a bonus would be awesome - if it's all paid out in 2023 on top of earnings already in the books...some could see their tax rate jump significantly meaning that you will lose so much more of the "gift" of a few months of... — read more 

I have heard several Directors and Sr managers say "Schwab does the right thing" and give hits that because we are only a few weeks from the Jan 1st cut-off date for bonuses, that they believe/know that Schwab IS giving the bonus anyway. Can anyone... — read more 

Well is it?

Better to be laid off now than in the future, when they're guaranteed to cut severance significantly.

Does anybody have faith in the leadership we've got going on here? I'm talking about genuine, wholehearted belief in their abilities and decisions and faith that they are working in the best interest of the company. While at it, is there anybody who... — read more 

CS will be announcing that Walt will be stepping down and new CEO will take over from Jan 1st. This will be announced as part of q3 results disclosure next week.