Somebody I know had an offer pulled by Schwab a week after he accepted it, no proper reason provided. Does anybody know why this could have happened?
19 replies (most recent on top)
Ain’t non of you know about anything, go back to your shanties
Don’t know what everyone’s talking about Austin closing. There have been new hires coming into Austin this whole year.
@165 Yeah! Fourth largest economy is irrelevant!
Of course, Texas being the second worst state is clearly the fault of Californian migrants and not decades of republican administrations.
@15r “ they think they're the southern equivalent of Californians”
LOL. Austin is quite literally all Californians. That’s why it’s a failing sh-t hole. Now that’s it’s failing it’ll be time for all of the Californians to move on and destroy another city. They’re kind of like sy-----s. Probably a city like Nashville or Raleigh will be next.
@OP Happens alot, not just Schwab. Never make plans, keep looking for work too, until at least 3 months after starting work.
Yeah, because it’s fun to think you’re better than others.
@159 Right? Austinites are the worst! At least people from other parts of Texas accept that they're dirty, uneducated, red state l-wlifes and that's all they'll ever be. But people from Austin, they think they're the southern equivalent of Californians. Keep dreaming! Friscans built this company and Schwab knows it so adios you hillbilly freaks!
@14k Yur juss jelly cuz yur loozin yur job. Fer years u Austin peeples been tellin us we was gonna looze r jobs in San Francisco. Gess whut? We stll heer and u bout 2 be gone!
@14b Is a liar, and doesn't know his a-s from his elbow. Anyone who listens to him is just as d-mb as the people that believed Biden was cognitively well during his presidency. lol
@105 Austin is not being closed but the campus is. They are reducing most of the Austin footprint and will be laying off most of the employees there. They bought the building at 3501 Mills Ave in July and that's where the remaining employees will work.
@a6 Offers are also being rescinded for people that were hired in a location where Schwab is winding down (e.g. St. Louis).
@a6 They're not closing the Austin campus. That's a simple lie. Offers are not being rescinded to people in Austin. Offers are being rescinded for people that were offered a telecommute position right before the new policy was communicated.
@mw I would think that employees would be asked to relocate to Westlake. I imagine this would be with minimal or no relocation package (other firms have been doing this as stealth RIFs).
In such a case, key employees could be allowed to work remote, but seriously would probably require several levels of approval and MDs likely would be pressured to not doing so.
The other option could be a similar approach to what they are doing in St. Louis, allowing employees to stay / remote, but limiting future opportunities and advancement.
Such a plan would likely ensuring they already have enough flexibility in roles to absorb such a plan. I don't know anything, just describing how such a plan could work out.
@mw They may package some out, but only 10% will relocate based on averages even if we paid moving expenses. We will not. The rest will leave the company.
so what happens if Austin office does close? can't layoff those many people and can't ask all of them to move to westlake?
@b5 We've had a redundant TX presence since opening Westlake. They been talking about closing Austin for 2 years now and selling off the campus. Prolly the worst kept secret in the company.
Why would they close Austin office?
I haven't had to pull an offer but I opened a req and was told to list Austin as a location but the position can't be in Austin. I haven't been told about them closing the office there but it does seem like something is going on.
Is he in Austin? They are closing that campus end of next year but a lot of managers and HR people haven't been told yet. I know a few different instances where they've had to withdraw offers after they were extended because of this.