Thread regarding Charles Schwab Corp. layoffs

First I looked at the calendars of PLs I suspected would be laid off, and they all had 8 AM meetings tomorrow. Then I thought, well maybe all PLs have this meeting, so I added some PLs that I was pretty sure wouldn’t be affected. Sure enough, no early meetings, their schedules looked normal.

maybe they are just making plans to destroy the ring of power at those secret meetings?

Specialty Team (client facing) in WL here. I can confirm I see the secret meeting on both Saturday and Sunday from 1 to 4 PM CST for my MD.

@1fcr+1pjvIxLD Open calendar too. Maybe he is one of the news bearers tomorrow. Just confirmed that one of the PLs at his level didn’t have the invite.

Yes @1mzr+1pjvIxLD I saw it as well. It is for one of the STS director Ravik.. Par... ! He is IC with no direct reports under him at all!

Perhaps using the weekend meeting as gauge of which PL is safe and which teams are impacted is not as ironclad as we initially thought.

Well, I saw this "Optional: Live HR Support" meeting for a director (IC) in STS who is a lead architect and has no direct reports. Strange!

Have we considered the possibility that they bungled the calendar invite list? I wouldn’t put it past them considering that they have pretty much bungled everything else.

@1itm+1pjvIxLD It’s just odd our Dir and MD had all of the invites but not a single 59PL under them have any clue about any of it. No invites, no heads up on impact within the teams. Nothing. Maybe the 59PLs are just going to be cut out of the notification process for ICs.

@1yxe+1pjvIxLD maybe there is no impact for you guys. I find it hard to believe that all level 59s will get purged.

If only we can get someone who attended one of these blasted meetings to give us the details lol.

@klf+1pjvIxLD That email goes out every year to everyone that is enrolled in Schwab benefits.

@1xue+1pjvIxLD I don’t know of a single 59PL (at least within the technology org) that got an invite for this weekend (or last week even)

@1cfm+1pjvIxLD Were they invited to the weekend HR meetings?

So are we to assume that Dirs and MDs are inheriting the sole responsibility of notifying anyone in their orgs that are laid off? I don’t know a single 59PL anywhere in my org that knows anything about what’s going on or has any clue on impact.

I too can confirm my Director and my Managing Directory both had/have Sunday afternoon meetings. it shows 2pm to 5pm EDT.

@jma+1pjvIxLD Dude, just chill. Did you read the “This message is intended for all US benefit eligible employees” disclaimer in yellow letters? Every FTE got one.

@klf+1pjvIxLD yeah I am not sure either if the mail went to everyone or just the impacted.

@klf+1pjvIxLD - I received that HR email as well. Not sure if that went to everyone or maybe the targets for next week? I guess we will know soon enough.

Received a mail from HR at 3:06PM CST today with subject ' from Human Resources' . The mail talks about 'revised 2023 Summary Plan Descriptions containing important information about your schwab retirement plan and benefits'. Looks like they are updating the documents in preparation.

Yes branch employees are. 4500 Schwab employees 4500 TD employees. Client facing impacted

Can confirm. I see some of the directors have the secret meeting on both Saturday and Sunday from 1 to 4 PM CST.

@lca+1pjvIxLD What number are you hearing?

Good find..Can't seem to find the dial in info though. Anyone else find it ?

Last thread you need on this topic. Great job OP. This is it. Let the Titanic Orchestra keep playing.

Are branch employees impacted?

I was surprised at the number being let go this round. Seems crazy given the transition of accounts and it being the holiday season.

Schwab is a mess right now. We need new leadership. The culture has become a toxic mess

I can confirm that multiple directors in Ops have invites for this weekend

Provide the dial in info and pw I’ll dial in and report back

Is the weekend invite a honeypot?

This has already been stated. Where have you been?

Follow the instructions above. I logged out already

What’s the dial-in number? I’m working overtime this weekend and pretend that it was an accident.