Hard confirmation on huge layoffs in September. This coincides with last years 600+ cut. Good luck Schwabbies.

PortfolioCenter is one of the better plays Charles Schwab has made in a long time and one of the few software products it can be proud of. That old bird could do so many things so well that even long after it was due for an overhaul it sold for a... — read more 

This is the real deal. Layoffs will happen at the end of July, and not the week following 4th of July. Lists have been prepared, and word is 10% target cuts. Good luck everyone.

I saw a PowerPoint template of the talent profiles they want us to fill out. It really sounds like they are going to use them to figure out who can get axed. Thoughts?

I'm a SMD. We are confirmed for next round of layoffs for the week after the 4th of July. It will fall on the following Tuesday. Target adjustment of 10% of current work force. San Francisco will be particularly impacted greatly. Raleigh will... — read more 

SCHW is in a free fall. TDA buyout in doubt. They will probably need to cut at least 15% in order to sustain. 50 year olds and above, with 20+ years of experience will go first. Good luck.

Can they pull the trigger already? I could use a few months off with some severance...

Evaluations are being done on how to best move HQ operations to TX and have staff either relocate or be replaced This makes alot of sense but i dont think many people are ready for this...

Im suprised at how many staff they have taken on recently without any meaningful work being done! The new Schwab Slices are terrible, digital deccelerator indeed... the website is so outdated and sloppy its embarrasing! Layoff ineffective orgs, hire... — read more 

Was there some announcement I missed? I understand speculating, but people are posting like they know for sure it's going to happen.

It was announced that new job families will be created in the technology arm of Schwab, effective June 1. This a prelude to massive layoffs.

STS is changing and realigning job families. This is step one to layoffs, where a lot of unhappy staff, who will be basically demoted in grade and title, but sold as a "realignment", will simply quit voluntarily. This will allow Schwab to bring the... — read more 

Anyone have any updates on the coming layoffs in June?

STS, the technology arm of Schwab, will be revamping job family roles, titles, and grade levels in June. This is the start of the layoffs that Schwab needs to do. First, a number of demotions, being sold as "industry standard consolidation". This... — read more 

Looks like Schwab leadership has decided that layoffs are no longer needed. They did an evacuation and discovered that layoffs are not needful, and hence forth have decided that the needy need not be performed at this time. They have no doubt. They... — read more 

SMD here. Decision has been made to initiate layoffs in mid June. Cuts are around 10%, in order to save money and reduce operating costs. Good luck Schwabbies.

Happy mada day Schwabies! Being a mada is not going to save you. Senior leadership will be laying off all madas before May.

It appears the no layoffs statements by leadership at Schwartz may not be entirely true. Senior has re-evaluated, and even given all the work we currently have with the soon to be completed USAA integration and launch, and the pending work to be done... — read more 

So there are so many rumors flying about layoffs coming in May, and then June. All this time our CEO Walt has been affirming no layoffs due to the pandemic. Our CIO and CTO talk about how busy it is and we need all the help we can get with the TDA... — read more 

Well our bonus advance is coming out this Friday. That's an extra $1,000 or $2,000, before taxes, depending on your grade. I sure wish Walt and the executive committee would authorize another spot award for us all like back in March. Remember that... — read more 

Take aways: Don’t live under fear, life is not only job. Always save some money for unknowns. good to be prepared for worst, but thinking about worst all the time will creates unnecessary anxiety. Peace and blessings to everyone here reading

Word is layoffs will execute in June now, after the anticipated shelter in place ends across all states. I'm a SMD. Good luck all. They are looking at a 10% cut this time.

Schwab glassdoor rating shows 4, hoe come when people feel insecure about there jobs? I feel glassdoor ratings are manipulated and not real. Why they hire more people, when they want to fire loyal staff? This all shows Schwab don’t care for their... — read more 

Here people are talking about layoffs, but Schwab has so many .net positions open. Don’t know why you guys feel layoffs coming? Am I not able to see, what you guys are seeing? Can someone share your thoughts 💭🙏

Ok, so reading all the posts here, everything was pointing to huge layoffs to take place today. From what I have heard, no one has been layed off. And all those rumors about lists, at the 5%, 10%, and 15% cut levels. So is this just delayed? Do... — read more 

So are we getting layed off or not? Will someone in know please confirm this one or the other. A lot of us here are just hanging on by a thread. I know a lot of people in Schawb getting layed.

Layoffs were scheduled for this Friday, 5/1. But current word is this will be put on hold, possibly indefinitely. Management has reconsidered given the current market conditions, work that still needs to be done with USAA integration, and the still... — read more 

Hi, I was a casualty of the Sept 2019 layoffs. The 60 days notice and severance was really good, I paid off some bills and saved the rest. I was also able to find a job within the same quarter I was cut (I was a 60 BTW). Looking back, most of the... — read more 

Anyone have any good information on possible layoffs coming. I saw several threads talking about lists being put together by VPs and something about this happening in early May. Any truth to that? There was also something about a furlough. But 90%... — read more 

Schwab may soon have to pivot due to the Defense Production Act. Trump will soon order Charles Schwab & Co. to focus all efforts on the manufacture and production of swabs that are needed for COVID-19 testing. Trump think Schwab makes swabs. He is... — read more 

Obtained following draft letter from senior leadership... Thank you for your continued commitment to Charles Schwab and our mission during this unprecedented time. We know that the uncertainty has not been easy, and we are doing everything we can... — read more 

I have good word that VPs have been working on a first draft list of candidates to cut. The directive is targeting a huge 10% reduction from current levels, which is about three times higher than our last round last year, with 600 laid off. Good... — read more 

Let’s take a look at Schwab’s $10 billion revenue breakout for 2019: 60% net interest income 30% asset management 6% trade commissions 4% other, including payment for order flow The Fed took rates to zero. NII isn’t going to... — read more 

Layoffs may come much sooner than expected. Expect mass layoff before end of April. Officers have been asked to come up with initial list candidates to be cut. Rumor floating that they are looking at a 10 to 15% reduction.

There was a post from last night about the interest rates that’s no longer here. Wonder if Walt is stirring the pot with the site admins to silence us.

We got the notification that our RPS All Hands tomorrow was cancelled. Wonder what that means.

I'm in senior management. Expect a layoff coming in the next 2 months. Is this info true? Any more info on it?

Thoughts? Comments? Where is this taking us?

The least qualified people are hired to save money. I do not think they understand that any firm can acquire tech and that the most valuable assets are the tenured employees. It is funny and sad at the same time that they do not realize that hiring... — read more