Thread regarding Charles Schwab Corp. layoffs

This is still happening. Schwab is now creating false reasoning to fire people in order to not pay a severance.

This happened to me too. I was placed on a false PIP, not allowed to switch departments, and also not provided a severance, of which I should have received six years' worth. How many instances of this have you personally seen at Schwab?

This is still happening. Schwab is now creating false reasoning to fire people in order to not pay a severance.

FTE here. Two people on my team were denied today and one.is out of state. Both FTEs. He was told something similar. His employment will end Jan 1. Guy has been here for 10 years and he lives in Northern California. No option to move from what he told us today

Blessing in disguise. Starting on January 1st, he can look for employment at a company that doesn't have a brain dead "CULT"-ure.

FTE here. Two people on my team were denied today and one.is out of state. Both FTEs. He was told something similar. His employment will end Jan 1. Guy has been here for 10 years and he lives in Northern California. No option to move from what he told us today

@2jgt+1vr8Z9VH

STS, full-time contractor.

I was just denied my exception today. Unfortunately I don't live anywhere near a service center and when i asked about a location i was told to see my manager.

Everyone on my team is in another state. This is a brutal thing to do to your employees during the holidays.

Please provide type of employee (contractor, FTE, other), who told you (since it wasn’t your manager), type of telecommute agreement (post Covid or other), division (STS, retail) and if you were told that you’d get a package.

Otherwise these posts are snipe hunts.

I was just denied my exception today. Unfortunately I don't live anywhere near a service center and when i asked about a location i was told to see my manager.

Everyone on my team is in another state. This is a brutal thing to do to your employees during the holidays.

Didn't Walt or Rick mention in one of the Town Halls that to be fair to everyone wanting an exception, those that currently had exceptions would probably lose them?

The OP is either not being forthcoming, possibly dishonest, or sounds like they are clueless. Stated that they are "full-time" contractor, knowing very well that severance does not apply. In addition, contractors are fully at-will, and they don't even have to provide 2 weeks notice.

This post was a total waste of time, and does not belong here.

This story is sus.

Contractors are capped at 24 months and usually out at 18. Current telecommute agreements are valid for six months (year end) and legacy agreements are almost completely null.

Should anyone on approved WFH expect bad news eventually? Sure. But we have ten plus year WFH managers and staff.

When the economy turns and it becomes an employee market (instead of employer) schwab will lose a lot of talent to those companies that allow a better work life balance.

Definitely can't wait for this!

OP here. I was a full-time contractor.

OP, you confused everybody here when you said you were a fullt-time contractor. Did you mean you were a full-time employee?

The things that pi---s me off is that some of us don't live anywhere near a service center but are waiting on pins and needles for "the decision ". If I'm denied i have what.....1 month to move my family to another state...during the holidays????

The entire thing su-ks. I've been a full time telecommuter since before the pandemic. Yet I have to go through this cr-p every 6 months. When the economy turns and it becomes an employee market (instead of employer) schwab will lose a lot of talent to those companies that allow a better work life balance. This is the future and all schwab is doing is desperately trying to justify it's Comercial real estate spending. Simple as that. Stop lying to us about "collaboration ". Nobody on my team lives in the same freaking state. So we have to spend 15 hours per week on the road to join the same remote teams meetings from a small cube because....collaboration.

Whoever said I was a contractor was lying. I am still employed through end of year, but no option to return. Lots of process schwab bots on here

OP is giving liar because the current remote agreements run through the rest of the calendar year. Even if new one was denied, you’d still have the rest of 2024. Weird post

OP you know as a contractor you are not entitled to severance right? Plus your contract probably has wording in it that they can let you go without a 2 week notice. You should read that over or at least that is where I would start

Well that answers that question

OP here. I was a full-time contractor.

Were you a contractor or an actual employee? Time to call a lawyer

This is the OP, and I want to say that this story is a factual account of what happened to me. All the naysayers, deniers, and down voters here are just heartless. I have no severance, no 2 week notification, no nothing except for a you don't need to come in anymore. No thank you for your years of service, no acknowledgement, no nothing. I don't know how I will pay rent or put food on the table.

I am calling Miranda on this one. Phone still ringing.

I have an issue with this post. One of two things are happening here: (1) the OP didn't understand and (2) the OP is not being honest. The statement "Just denied with no option to return" is not possible. In STS everyone has the ability to go to the office so this statement is wrong. My second issue is that you say you've had WFH approval for 7 years. So you had an exception for the last 6 month cycle? And your leadership woke up today and denied it? With no reason? NOPE. And since your posting name is Simon is souless I assume you work in I&O. But they didn't decline anyone like what you described so its BS.

I would say to anyone in a tough spot because of this, don't quit/resign. Insist that you would be happy to continue working, but state that you absolutely cannot, under any conditions, move. Let this be your stance until THEY lay you off, so that you can get the severance you deserve.

The problem is a clause that requires employees to relocate to any location of the company's choosing when they go into telecommute. The basic employee agreement likely has a similar clause.

Either obtain a medical exemption or seek severance.

If this is a real story, this is media worthy.

I would say to anyone in a tough spot because of this, don't quit/resign. Insist that you would be happy to continue working, but state that you absolutely cannot, under any conditions, move. Let this be your stance until THEY lay you off, so that you can get the severance you deserve.

I call BS

If they don't give you an opportunity to go to an office at your expense you may have a case. Check your agreement and consult with an attorney. You should be able to get the package.

2 direct reports are out of state telecommuters I'll quit of they have to go through this. Hoping this doesn't happen to them

God bless and hopefully you find something soon that's a better opportunity

Guy on my team out of Chicago was told something similar. He offered to move to Denver and was told no.

What city & state does this person actually live in?

Guy on my team out of Chicago was told something similar. He offered to move to Denver and was told no

I really hope this isn't true