Thread regarding Charles Schwab Corp. layoffs

Orgs in STS finding reasons to term ppl

Seems like any reason they can find they are terming ppl for... likely to reduce severance payout.

Stay vigilant and wait for the exfil bird.

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| 2237 views | | 15 replies (last September 15, 2023) | Reply
Post ID: @OP+1oANMmIg

15 replies (most recent on top)

@2ovu+1oANMmIg We’ve had several terminations, one FTE, two contractors, in our team over the past two years and performance based firings happen independently of layoffs.

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Post ID: @2hkc+1oANMmIg

On my team, around 30 people, 3 high performers were all written up for various bs items over the last 3 months. I blame poor leadership/retaliation.... and yes, HR is involved. No one has been fired yet...I dont think they will be at this point but I do believe the team "leader" was trying to get them out, one way or another.

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Post ID: @2ovu+1oANMmIg

@2ykw+1oANMmIg @2lny+1oANMmIg thank you both for your input. The manager is new, he came in with his own crew and a hammer and began to micromanage the existing people, then suddenly my expectations went through the roof. I'm not complaining, just thinking maybe I will not make the severance.

The question still remains though, if I am fired can I still apply for unemployment? I checked on the local gov website, they are as vague as it gets. Thanks again.

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Post ID: @2gdu+1oANMmIg

1:1 could simply be oversight from management. I’ve changed managers a couple of times in the past and it usually takes the manager a few weeks to realize that they neglected to setup one on ones.

I also think that the concept of 1:1 is a bit dated. Usually things go smoothly, and there is nothing of importance to talk about so it is just the manager speaking.

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Post ID: @2lny+1oANMmIg

@2wda+1oANMmIg

That's too vague... Were there reasons why you didn't meet expectations? And were they valid? Are you improving since your last review? Were the 1:1s canceled by your manager? If yes, why? Have you asked if you could have 1:1s or just let them slide off the calendar? Could the recurrence have ended, for example?

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Post ID: @2ykw+1oANMmIg

Let's say, hypothetically speaking, that for years your performance reviews have been always "met expectations" or above. You got your bonuses and the miserable merit salary increases. Suddenly, this year (PR for 2022) despite working your tail off as always, you didn't meet the expectations, No PIP, the manager avoiding you, no 1-on-1 meetings anymore either. Maybe it's just something silly like the new manager not liking you.

In this scenario:
1 - can they fire you for cause (alleged low performance, employee unapproachable, confrontational, whatever)?
2 - if they can fire you, can you apply for unemployment?

Thanks

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Post ID: @2wda+1oANMmIg

All the people saying this is false have not been paying attention. They've been bumping people since as early as June. Check with your colleagues if it hasn't happened on your team. Find out who's missing and ask them.

Sure, it's bad optics to fire someone for no reason. But there are all sorts of reasons that they can use as an excuse that would normally be resolvable as a write-up. Anyone fired for cause has pretty much no recourse. The public won't notice.

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Post ID: @2hmf+1oANMmIg

Yup, same on my team.

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Post ID: @2mxl+1oANMmIg

OP is correct, happening on my team.

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Post ID: @1efs+1oANMmIg

@fzq+1oANMmIg While the OP is definitely a troll, there is no denying that Schwab managed to destroy its reputation thoroughly, within the company at least, with RTO and layoff threats.

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Post ID: @1njk+1oANMmIg

OP find a reason for yourself and get the he-l out of CS.

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Post ID: @1dre+1oANMmIg

This OP is a BS troll. They’re going to gain nothing saving severance for a handful of people, and only destroy reputation in the process. This is false info.

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Post ID: @fzq+1oANMmIg

I am in no way a company loyalist and firmly believe that companies only look at profit and don't care about employees.

But @rvk+1oANMmIg is absolutely right. Firing people without absolute evidence that the person broke some rule, failed to meet their PIP or something similar, would be a PR nightmare.

Schwab values optics. Good optics brings them customers.

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Post ID: @sdp+1oANMmIg

OP is another troll. Schwab values their reputation, how reputable would it be if it were to be determined six months from now that they tried to cheat people out of a severance by fabricating reasons to fire someone who was otherwise doing a good job , but not maybe a “top performer” If you have consistently “met expectations “ what would be the basis for a performance based job termination? Sure it could happen, but highly unlikely IMHO.

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Post ID: @rvk+1oANMmIg

How can they lay off without any reason . Won’t that amount to willful targeting .

Why can’t companies be fair one last time to employees who got all work done for you

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Post ID: @esc+1oANMmIg

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