I have a better chance of finding out something important that's happening at the company here than from management. That's not how this is supposed to work. The less they tell us, the more morale will go down since people will always imagine the worse. We have a major transparency problem at Charles Schwab.
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The strategy is we have StreetSmart Edge. Who needs TOS? hehehe
Yeah keep spewing the narrative that TOS integration is on track. It’s a hot mess. Trying to incorporate a mainframe into a rocket will never work
@3aaf+1mwn7KKg Most of TOS will be migrated migrated November. A small, final contingent will be migrated March, 2024. The deal closed October 6th, 2020. At that time, they announced to the market it could take 36 months, so it is about 5 months longer than that. Not a big deal.
@3cbc+1mwn7KKg
Exactly, and the cuts might deeper than otherwise, because of the market conditions
There were always going to be layoffs with the merger of TDA - they are just being expedited because of the market and interest rates, their investments and the drop in the stock price. Pretty sure the board/investors don't like the current view
Wrong. Their vision was spot-on. The teams just failed to execute and deliver effectively.
They aren’t saying anything because they are the ones who got us in this mess. Take all the credit when things go well but when it doesn’t go well, it’s not their fault. Let’s see the ratio of severances for EC members compared to the general population. I am guessing no EC severances.
Transparency at Schwab vs TDA is night and day. Completely in the dark here.
Everybody is talking about layoffs but does anyone know if the reason behind this is drop in stock price or they will be integration related layoffs?
I vividly remember something I learned in an organizational behavior class in college…80% of what you hear through the grapevine has some degree of truth to it. So while we may not know the number of layoffs coming, or if they’ll happen in June, it is likely that layoffs will be coming at some point, potentially as early as this summer.