Anyone else in a branch? I’ve seen 2 from our area let go, though I’m sure there are a few more I haven’t heard about yet. No FC’s (so far at least)

It’s probably not possible to reach an exact number of the people that were laid off, but I was hoping that people could post how many people were laid off at their location and that, in that way, we could reach some kind of a frame number of... — read more 

If you are critical of HR and Management they will delete your posts here - this site is totally controlled by Schwab's management!

https://riabiz.com/a/2019/9/18/head-of-schwab-private-client-is-apparent-casualty-as-charles-schwab-slices-100-million-in-expenses-by-pink-slipping-600-staff-in-face-of-interest-rate-time-bomb

Any impact???

https://mobile.twitter.com/thelayoff/status/1174347858188754945

Don't get fooled by the "Schwab Culture." You will always make more money and remain more competitive by moving between custodians every couple of years. It's been made VERY clear that tenure is not respected by this corporation.

Today is supposed to be a big day. Creating thread for people to post updates as they happen in each geo-location. Good luck all!

guys it’s too quiet has anyone heard anything new either reorg or layoffs

I plan to come home and walk my dog. Eat lunch with my husband. Do some outdoor work. Hang out with the kids when they get home. Make sure they do their homework. Make a nice cheese plate for dinner, paired with a bottle of wine. Maybe take the dog... — read more 

Who else feels like people in their late 40s and above have been disproportionally targeted by these cuts? Shouldn't that be illegal? Is there anything that can be done about it?

Someone questioned how laying off 600 will save the company money.... MDs and TDs typically make average $200K base, not including bonus at least 15%. Factoring in a mix of Senior Managers, Senior Staff and other grades, this estimates out at 600 X... — read more 

My dad was laid off by Charles Schwab yesterday. He said the severance package was fair but he is still severely stressed out about finding a new job, especially since he is in his fifties and the entire industry seems to be in shambles (his... — read more 

If I got this right, some people already found out yesterday they had meetings scheduled with their VPs for today. Does this mean that if I didn't receive such notifications, I am safe? Or should I still be worried that I might be... — read more 

Remember that you can only control what you can control. The die has already been cast. 97% of us are fine for now so your odds are looking good. Don’t go around moping or not helping the clients you will only put yourself in a worse position. Keep a... — read more 

It’s so tough at the office right now. The atmosphere is nearly unbearable. Watching offices get cleared out today after VP/Managing Director level layoffs was tough. Yesterday Senior VPs were let go and today they were already erased from the... — read more 

Is there any way we can determine that? What numbers of laid off people are talking about in this round?

Hope this helps, I’ve just realized it myself. If you click the blue "ACTIVE" button right above the first thread on this page you can see posts that recently had replies. Don’t know how I’ve missed it, it’s pretty visible.

I honestly don't see how letting 3% of the employees go can drastically save the expenses of a multi-billion dollar company, who also happens to be building campuses and buying segments of companies, especially if they're cutting across all pay... — read more 

Hearing rumors of a round 2 depending on another rate cut?

I imagine that by knowing the people at affected locations had a good look at the way the layoffs are performed. So, I wanted to know a little more about that. Are there certain types of employees, certain age groups, pay grades etc, that are... — read more 

Any word about layoffs occurring in Raleigh?

Letters have begun being passed out. So far SPC and AS sales reported to be affected

Does anyone in San Fran have any insight into how their head count will be affected?

As of today, Tuesday 17, 2019 (10:55am local time) no lay-offs to report from Austin. Anyone has seen/heard anything?

Has anything happened so far today? Wasn't September 17 supposed to be the D-Day?

When you are notified, assuming the 9/17 date is accurate, you are usually "notified" in the morning. When notified they take you away from you desk/office. This typically runs to around 11am-ish local time. This would be your direct manager, but... — read more 

people give 10-20 years of their life to a company championing it’s values to be kicked to the curb for a cheaper alternative brought in via external hires which never work as well

couple rmes are gone still showing up on whitepages tho anyone wanna name names

If it is in fact true that the only reason any of us have heard about these layoffs is due to a “leak” to the WSJ, than I have a whole new perspective of the ethical standards of Schwab. First off, thank you to the Whisper-Blower for getting it out... — read more 

There are a number of jokesters here posting nonsense and fake news. Anyone heard of any actual notifications that went out? And please stop with the MD in Chicago.

Despite a number of fake posts about notifications at Denver and Austin, there has been no layoffs today in any of the major offices. Can’t speak for branches and FC roles. All indications from what people are saying, it will be tomorrow. And... — read more 

its sad that people build up sick days for emergencies , then when a rif happens they get nothing for theis sick days they built up , companies could at least pay them 1/3 of the days they built up ..

Any new news?

Schwab is the worst company I ever worked for in my 30 years of IT career At first, they claimed that it would free up my time to focus on the important jobs after they have me trained, and hand my job off to the India Offshore Then, they tried... — read more