Desire to have majority of this wrapped up by earnings on 10/16
Will roll through out the week with majority of convos done by 10/11
29 replies (most recent on top)
This didn’t age well…
This appears to be plausable.
Is the bonus thing exclusively Charles Schwab, or does it also apply to Les Schwab. At Les Schwab our bonus is tied to how many tires we sell, and rotate. At Charles Schwab your bonus is tied to how many nodes you have to rotate in an AVL tree. However, the less rotations, the higher your bonus, unless at Les.
I really wonder why someone thinks CS is delaying layoffs so it can payout bonus. More than likely the delay is because of CD1 and logistics around layoffs. Also it will definitely not be next week. It doesn’t matter if someone sign NDA or not. The information will leak before it happens.
@2efi+1oXBFXBG Annual bonus eligibility is you have to be employed on last day of the plan year and in good standing. 60 days puts that at 11/01.
@1vle+1oXBFXBG "Any RIF’s before 11/1 are ineligible for annual bonus."
I don't see any info on that at Schweb or myHR. Could you please post the source of that information please? TIA
@1uac+1oXBFXBG If enough people get impacted in an organization they won't get the luxury or dignity of an one-on-one exit interview. At a previous firm we've literally had a meeting where the manager said "so and so, go to this room" and "so and so, go to this room". During which he disclosed that the people in the other room were being laid off and informed by HR on severance and next steps.
Since not everyone isn’t in the office, it’s gonna have to be the email notification then a mass webex event.
The big webex is there and the managers aren’t delivering the message they’re just there for when the employee needs to talk
Seriously where did all this people posting “MD here” go? All the MDs decide to stop posting?
Realistically, if Schwab lays off 5,000 people, individual layoff off conversations that last 15-20 minutes means a person could have 2 an hour approximately 10-12 a day. It would take around 500 leaders/managers to do in a day. That doesn’t seem realistic.
Wondering how these conversations are going to happen? Mass email to those impacted, then join a mass call to explain a package (not specific), invited to meeting in conference room with others, etc.
Anyone have thoughts on how this might happen?
@1ofa+1oXBFXBG If they really knew nothing they wouldn’t be shuffling people around lol.
L1 Approved.
And what’s to say Schwab won’t do a conference call layoff like others have?
@1ztb+1oXBFXBG They “know nothing” or they’re telling you nothing?
There’s a big difference between those two.. and just because you trust an MD doesn’t mean they’re not under NDA and keeping their mouth shut ensures a nice pay package
@1rkk+1oXBFXBG doubtful the entire plan is working around 1 MD being on vacation.
If it happens before or after their vacation, it def wasn’t because they were taking PTO
Confirmed layoffs start on the 10th from several MDs. Oh sorry… this is Charles Schwab not Les Schwab. Honest mistake. It’s also not a hospital….. you know. MDs.
“ Managing Director in large department is out on vacation returning the 17th”
There are a lot of leaders “out of office” next week. Smells like blocking time for layoff and reorg meetings to me.
Post from TheLayoff.com
BILL Murray, but yeah- it feels that way
RIF Will mostly be done the week of 10/16 but notifications will continue for more senior levels through 11/1. Any RIF’s before 11/1 are ineligible for annual bonus.
Managing Director in large department is out on vacation returning the 17th. If MD knows the date, then I don’t see this happening before the 17th. Let me know if I’m wrong. God knows I hope I am wrong and this happens next week.
60 PL here. Fwiw, I know nothing and every MD I trust knows nothing.
If you keep throwing darts at a photo of Walt’s head, eventually you’ll hit Bozo’s nose, I suppose.
I feel like Brian Murray in Groundhog Day. Every week is same prediction. And nothing.
I hope you’re right. Quite frankly I’m losing my patience. Don’t want to do any work. My work is piling up and I’m not doing it.
Let me guess.. Les Schwab selling tires. F off.
comes one more prediction
I hope true. This has gone too long for everyone. Frankly every week means more expense for Schwab anyways. Just lay me off so I can start searching.
Let's go!!!
I only believe the words of the great RTO delay leaker.
Confirmed eh? We’ll I’ll believe that when me sh-t turns purple and smells like rainbow sorbet
Confirmed based on what?
Have never seen a RIF span days. HR doesn’t like that.