Thread regarding Charles Schwab Corp. layoffs

@2lpe+1o5thNWX

Why are you so triggered by people venting on an anonymous layoff site?

Are you an exec? Are you trying to deter people from talking about their mental issues so that our glint scores improve? Or is this a simple case of projection? Or are you some kind of weird bigot against depressed and anxious people?

/grabs popcorn

I'll be anxiously waiting to see you reply.

@3zef+1o5thNW Is right, luckily no one can see how the sausage is being made, lol. And we’re supposed to do Agile with all the red tapping and redundant review boards.

The red tape in STS is ki-ling me. As a developer you need to fill a page in Confluence for a new initiative or idea including the business justification and obtain a buy in. That's what I was told. Like wtf, is it my startup? Not very bright TBH

@3far+1o5thNWX With that many review boards you need a lot of reviewers for the boards. They create boards to keep their jobs. I had a basic solution which required 5 different governance or review boards. It is asinine.

Why does STS have so many directors? I saw many of them on architecture and api review board.

I’ll say it, schwab systems are cr-p and brittle, thats why they need so many instances. Schwab is keeping their inferior systems because they did buy TDA so they get to choose. The high intellects of Dennis and Tim will continue to collect their large paychecks until the first 5 million trade day and their systems crumble under Rama’s stellar decision making. Yes, i will be watching down detector.

Schwab is too old to change, no way can they catch up with Fidelity. STS mgmt is all about growing their power and cant seem to do whats best for the company. Need to fire them all, Dennis, Heier, Rama, Noodles, etc. Too bad Walt doesn’t have a clue.

@2lpe+1o5thNWX Could use some anger management training, lol. Let people talk about what they want, no one is forcing you to come here, dude!

I am fine with moving toxic comments to another thread. If the rest of you can stop with the oh the anxiety sessions. This isn’t a therapy session people. If that is what you need go to your significant other, or get a pet. Or as someone else has posted, get some man-grow.

OP here…

Wow. I never thought this post would result in so much fighting and unfounded hatred between fellow employees. For the record, I want to work at CS… I just haven’t been a fan of the way all of this has been handled (I’m sure most of you can agree).

I intended for this to be a thread where people could discuss their worries about layoffs in a non combative way, but I guess that was false hope. Many of you are being unnecessarily caustic for no reason other than the classic “us vs them” thing.

We’re all in this together and while I disagree with a lot of these comments, I empathize with everyone’s frustration. But jfc, could everyone move their negative, unhelpful, and vitriolic comments to a new thread? Goes for both the green and blue a--holes in here doing nothing but sowing division

@2gai+1o5thNWX nice try, you're probably a Fidelity/Wells employee and if so you're a sick ba----d...

For all the real people, don't buy into this us v them stupid, petty, cr-p.

TDA (the company) lost when it got BOUGHT. All Schwab now. All Schwab, with the real opportunity to be better than both, better than Fidelity or Vanguard, way better than the rest. This is opportunity, not challenge.

And ... It doesn't matter who signs the paycheck, as long as I get paid. If I go, someone else will sign the paycheck.
P.S. oh yes, T - I seez you, we all seez you.

Here is an idea. If you aren’t satisfied with Schwab, go work for TD Ameritrade, you know the great firm that was so much better than Schwab that decided to sell you.

It is a game of football. It's us against them. Green versus Blue, TDA versus Schwab. And we want team to Blue to go down.

Not about which side, both have great and not so great, but all are human. Some of these read like sarcasm and some, sincere. If you're really 100% team A or team B, that's unfortunate. This isn't a football game to root for, its a company. The company has to survive or we all lose. BUT if you're dreading RTO, share it. Leadership does care and things have changed before because of employees' voices. Stay united and support your fellow employee that needs RTO, even if you personally don't.

@1ert+1o5thNWX Upset about people venting?

Who's the genius that came up with a plan that let people know there would be massive layoffs in two months time?

Yeh, employees have a right to vent and complain. Communication has been horrible, contradictory, and confusing. And its been all by the faceless "Executive Council" or whatever they call themselves.

Whoever came up with this plan should be laid off too. Textbook on how not to handle a sensitive topic like this. Layoffs should have been announced and done within two weeks max not two months (or by the end of the year)..

Vent away Schwabbies. Its your right and posting here to figure whats happening amongst the contradictions and half-truths empowers us with at least a little control over a clusterf*ck of a situation..

For me, I never looked at it as Schwab on TDA, TDA on Schwab, or whatever other combination you have. I'm on the Blue side, and have worked some fine Green folks. I've also worked with many fine Blue folks over the years. Look, it's a difficult situation. A lot of folks are anxious, as this is about our lives. We all have different situations, kids, family, health issues, and so forth and so on. Lets just be kind to each other. For me, at least there is this forum to help support one another. Whether you are on the Schwab side, TDA side, we're now for better or worse, all in it together. Good luck all, and best wishes.

I hope Walt, Rick and the entire EC is proud. This forum has never been more active. And there has never been so much Schwab on Schwab, TDA on Schwab and Schwab on TDA violence.

Interesting to read all the replies. I think another piece is the nature of the industry right now. It's not going to be "I'll just get another job" when recession is here/around the corner. Cuts were gonna happen, the industry issues are making them far deeper. Su-ks. Oh, and for those that remain, from these hunger games, look forward to the "quarter quell" because this sh--e ain't over. (and may the odds be ever in your favor).
P.S. TD was quick, maybe reckless (um cyber ransom??)...but Schwab is bloated and burocratic. Yes I spelled it wrong. No, I don't care, its right even if spelled wrong. Wanna fight about it?

@1kab+1o5thNWX
No, not a fishing boat. A 500 foot yacht.

@1jsu+1o5thNWX aka Rick we don’t all get giant golden parachutes. I have to assume you are Rick or a 60 year old ready for retirement anyway. Enjoy that fishing boat.

@1qln+1o5thNWX
I visited this site to see what everyone is posting about. And I had great laugh reading about the "oh my anxiety", what am ever going to do posts. Personally, I don't care how you guys handle it. Live in anxiety. LOL. Worry about it. LOL. No skin off of me. Me? I just focus on my work and move on, live my life. When it happens it happens. Sadly, we all handle difficulty in different ways. Some become comedians, some cry and whine, some just treat as a problem and try to solve it. Some, as in our case, realize this is out of control, and therefore move on. I.E. man up!

@1ert+1o5thNWX So you came to this thread to complain about complaining lol? Grow a pair and man up, quit whining about it, and just move on. Seems a lot easier in your case versus the rest of us, chief

@1cfg+1o5thNWX
Yes, just man up. Focus on your work, and stop posting about your anxiety on this site for starters. Obviously you can't do that, but are much more effective at complaining, whining about "oh my anxiety". Yes, our jobs are on the line. No, we don't know if we are all being impacted. So if and when that happens, we deal with it. That is called manning up. I don't see how you completed anything in life, whether it's a BS degree, or phD degree or whatever. Oh the pressure is getting to me, so I will just go whine and dine. Man up and grow a pair1

@1igk+1o5thNWX we had an entire SDLC including team QA, enterprise QA, CRQs, and on. Even had had checks and balances missing from the blue SDLC. Schwabbies like to say we released on a whim but few did. Blue's red tape is just orders of magnitude slower.

@1bke+1o5thNWX -- "Dude are you worried about your career and the future of your life and your family being held in the hands of incompetent nepotistic sociopaths? Just man up and stop worrying bro, what is wrong with you?" You corporate apologists are the worst, you could get fired tomorrow and you would make excuses for the company.

@1bke+1o5thNWX Right… so everyone should just “man up” and not be nervous about being laid off and potentially losing their houses/insurance/livelihood/means of providing for their families etc., regardless of how well they’ve done or how much they’ve contributed. What an out of touch, delusional, self aggrandizing comment… GFYS dude lol. We’ll see if you feel the same when your name’s called

@1fck+1o5thNWX
Well if you are looking for comfort, go see your wife, or husband. Or get a dog. All I see are all these posts about anxiety, what am going to do, I can't handle it. Get a grip. Grow a pair. Grow up. Man up. Woman up. Step up to the plate. My gosh folks. How did most of you ever get through life? It's seriously laughable. And sad at the same time.

@1igk+1o5thNWX who does the vetting and testing? and what do they vet and test? thx

@1igk+1o5thNWX Honestly, that was a well thought out and informative answer, free of any resentment (unlike others on this thread). As a green employee, thank you for shedding some light on that particular issue. I personally think it moves way too slow, but what you’re saying makes sense

Probably going to get down voted for this but the reason why things might take longer on the blue side is because we do not freely go into production to make changes on a whim. These changes have to be vetted and tested out and approved though release tickets. Honestly it's a safer option and more secure. If I was a client I would prefer this approach. Schwab is slow but they make these decisions with care. There's a lot of security steps you gotta take before things get into production. I do remember the first time green was getting integrated with Schwab and one of the first things they requested is access to production. That is why things get "done" faster but that's just bad practice. There are probably things that Schwab can do to improve the deployment process no doubt but that's probably one of the main reasons things seem slow.

Man… this person posted about their anxieties regarding incoming layoffs and this thread is just filled to the brim with petty infighting and Schwab loyalists (you’re on a website called “the layoff” btw, so obviously you’re worried too).

We should all be on the same side tbh… everyone in this thread has the potential to be laid off, green and blue alike. Frustrations are justified, but it’s 100% not anybody in here’s fault

I am also from the Green side, still fairly new and only a 55. I will say that when I started 2 years ago everything was much, much happier. This was my first time in finance and I felt very much part of a family who were interested in me developing my skills, getting licensed, and gaining the abilities necessary to be a part of the team and help one another. Some managers here can be a bit unhelpful but it's by far the best company I have worked for. The closer things have gotten to the merger, however, the worse things have gotten. Everyone's happiness has drained away when we're in the office, teams have gotten more disorganized, and the general mood around the office is that we're a bunch of chickens waiting to go to sla-ghter. I can't pretend that there's no such thing as cuts during a merger, but the way in which things have been communicated and acted upon the past several months has been so disappointing and depressing that it has left this feeling of ennui in everyone.

I used to make contests with myself to beat my earlier numbers, now I just count the days for severance so I can go to a competitor. I'm genuinely dreading working at Schwab now, before I was stoked and bragged to my friends about how incredible the company was.

TDA paid less than Blue. Literally everyone I know who moves over gets a raise. And there are so many more people doing the same work one person did on Green (my job as a senior specialist on green = a 10 person team plus offshore help on Blue). It's so needlessly complicated, the added money isnt enough to inspire us.

But TDA paid better severance, we had a great culture, our work was cleaner/simpler and our CEO and head of HR were transparent.

Do you think there will be any impact to Blue?

@1khr+1o5thNWX Stereotyping an entire company’s employee base based on some questions asked during a town hall or whatever limited interactions you’ve had with them is ignorant at best. Personally, I have nothing against blue employees, my issue is primarily with the executives and the way the company is being ran. The way they prove, time and time again, that they don’t care about us. Also, nobody on green (at anyone talking in here’s level) chose this acquisition and it’s been trying for all parties involved, so a little “brusqueness” when things don’t make sense, communication is terrible, and Schwab refuses to adapt/innovate is par for the course. TD always did a great job of making us feel heard, which is a feeling I haven’t had once at Schwab. This isn’t blue employees fault.. it’s the people running the company, so blaming green people for this and that doesn’t really make sense. Maybe the veil has just been over your eyes for too long.

PS. The whole “schwab nice” thing is probably why nothing changes, nothing is optimized, and why you all have pointless meetings about literally nothing on an almost daily basis (where nothing real is accomplished). Just my observations… its ok the push for change when things don’t make sense.

“Straight Sho-ter’s” response may be a bit rough, but that sentiment is shared by many Blue personnel. A while back, there was a corporate update where submitted questions were broadcast, and many of them were very harsh and borderline out of line. The consensus was that those were submitted by the Green side. Coupled with sometimes brusque interactions with Green, it’s given a poor view of the Green side. I get that “Schwab nice” isn’t for everyone (and there’s plenty of problems with it), but that’s been the culture possibly since inception.

TDA was one of the best companies to work for. It was small enough to actually get things done but had a big firm feel and actually paid employees fairly well tbh (for the most part) Transparency there was great. You felt like you were always in the know. TDA ki-led itself by not diversifying revenue quickly enough and not having a fund family of its own to lean on.

Now we are just one big-d-mb-antiquated-behemoth.....

@1ctn+1o5thNWX What is your grade level and salary @ blue and what was it @ green?

@1psd+1o5thNWX overpaid @ TDA? I received a large raise after coming over to blue with no title change.

@ Straight Sho-ter LMAO at your comment. If Blue “standards” are overcomplicating everything as much as possible (I.e. something that takes 5 mins on green takes an hour on blue), then maybe you’re right. Just because it’s “the way we do things” doesn’t mean it makes any sense at all… js. On the contrary, perhaps Schwab employees are underpaid and you’re just a boot li---r who tows the line