How many EC positions will be eliminated?

I know it hasn't been officially confirmed, but most of the chatter pointed to the first week of October as the most likely for layoffs. I did all I could think of, including sending out some applications. All I can do now is sit and wait to see... — read more 

Shareholders will like the layoffs, but the clients will quickly realize that this is not to their benefit. Wait times in branch are already too long and extended wait periods to get paperwork/cases processed will lead to significant customer... — read more 

When they start recruiting, no one will want to join Schwab after this fiasco.

Then the next and the next etc. until they make the call. I’d say it’s this Tuesday or next at the latest. But those that know are probably not posting on here because they are “safe”. And they are probably dog people who don’t like cats. — read more 

When do we get our parital bonuses, does anyone know?

The movie office space. And that cat guy poster may be into something.

Earlier this year I decided to look into roles outside the company, just to see what was out there. The job market was plentiful. I received several job offers for more money than I’m making now but held off due to the potential of a promotion. Now... — read more 

x% of my paycheck has gone towards ESPP since July. My intention was to sell the vested stock immediately for a short-term profit this time around. The date of purchase is October 31st. If I get laid off in the middle of October, what happens to that... — read more 

Every year there is a 'Customer Service Week' where people leaders (PLs) in service orgs or back office service orgs are expected to go out of their way to thank and appreciate their teams. This year that week is 10/2 - 10/6. We know all groups will... — read more 

If you’re laid off how quickly will you be closing those Schwab accounts you were forced to use and/or transfer outside investments into and how much (roughly) will you be moving? For me, I’ll be moving roughly $3 million within about a week. — read more 

I don't buy that managers don't know who's affected this close to layoffs. If you don't want to or can't share, then just say so, that's perfectly understandable. But I truly wish some of you would stop telling us something we all know is not true -... — read more 

What client facing positions would they eliminate? Would certain branches be safer than others due to branch asset size?

I had a few internal team things that happened today, but unfortunately I can't share those specifically. But two things came to my attention that the target week is 10.3, and specifically 10/3 as the day: Two governance review boards were... — read more 

Hopefully this call starts out with - the layoffs are done for the remainder of the year….

We sniffed out Walt’s plan long ago. He does the layoffs and announces RTO then exits to stage left. Robot Rick then gets installed and they put all the blame on the previous EC. This was their plan all along

Smart money says second week, lot of confidence in first week. Saw a post that mentioned time for real estate to plan for the RTO… which makes sense but a lot of recent timing decisions don’t. So good logic? Biggest thing is the last conversion... — read more 

I'm sorry if this is a stupid question, but this is my number one worry.

What a mess. Katie is the absolute worst upper management I have ever seen. The layoff shpeel was eye rolling. And then she passes the mic to Clayton and Ryan and one would think the two have never publicly spoke in their lives. HR has the most... — read more 

CNBC clip link is below. — Unclear succession plans and problems with integrating TD Ameritrade are overwhelming some Schwab employees and contributing to low morale, sources tell @Kr00ney. https://twitter.com/cnbc/status/1707180569124274595

I've been rejecting a lot of connect requests thinking they are just scammers trying to look more legitimate by having people who actually work at the company with a credible reputation on LinkedIn being connected. Knowing this company though I can... — read more 

There were many modernization efforts since last 3 years to support the integration. With it coming to an end, the next year budget will be minimal to keep the lights on. Do not expect to be part of any modernization projects. Overall market... — read more 

I saw other posts claiming layoffs will happen October 1st eeek. Please don’t speculate. No date is set yet.

CNBC had a segment this morning with the clickbait title of "Turmoil at Schwab," but provided some new information. Walt was planning on retiring this year, but postponed it due to the Regional Bank Shenanigans. Since the postponement, there is... — read more 

This business update is laughable. "please enjoy this once in a lifetime opportunity experiencing integration. You will be recounting this opportunity we've had for the rest of your career!" All in the midst of looming mass layoff rumors, and all... — read more 

How do they expect us to continue if they cut even more people?

If you haven't gotten your 2.79 free cookies from SugarWish, you're leaving money on the table!

These layoffs have been stressing me out. This year is just no the best for me. Being the sol bread winner for my family has been a lot of pressure. I'm scared I'm going to fail.. I wouldn't be surprised if I become homeless next year due to the... — read more 

Anyone else get this notice from corporate? It says you have 2 weeks to make an appointment to re-submit your fingerprints. Failure to do so can result in termination. I've already submitted my fingerprints at least 3 times during my tenure; this... — read more 

Don't hold out hope that once these layoffs are done it's back to business as usual. I know some people think this and I feel sorry for them. Layoffs at Schwab are not something temporary. This will keep happening, folks! This is our new normal. You... — read more 

https://www.wsj.com/finance/investing/some-schwab-customers-say-they-want-their-td-ameritrade-app-back-efc78bc1 Millions of investors who had accounts at TD Ameritrade became Charles Schwab customers this month. Some say they wish they could go... — read more 

Which departments/teams will most likely be affected?

Sep 25 - Chuck has 34,715 FTEs

We all agree the way this mess was handled was the ABSOLUTE WORST. Ignoring that fact, you need to look at the timing because it is putting you at a significant disadvantage. If the layoffs happen end of October (IF they happen then...) that puts... — read more 

With layoffs constantly hanging over our heads, how exactly are we supposed to maintain a positive work environment? This is an honest question, how? How are others doing it?

A CEO of a troubled company was relieved of his duties at the Board of Directors meeting. When he returned to his office to collect his personal belongings, his replacement was bringing in his first boxload. Not wanting it to be an uncomfortable... — read more 

Schwab’s EC pi---s off, alienates, and demoralizes the employees. Major reorg and layoffs happen. New CEO and EC members emerge with statements like “we’re sorry those horrible people did this to you. We’re here now, we’re different, and we’ll... — read more 

I am writing to express my deep concern regarding the current leadership of Charles Schwab, specifically CEO Walt Bettinger. Recent events have raised serious questions about his ability to lead the company effectively and maintain the trust of... — read more