Thread regarding Charles Schwab Corp. layoffs

@3glo+1pnjHcIN good for you. I was released from the STS jail on Monday as well. I agree with your comments, sadly. I'm also starting gym tomorrow or on Monday again. Good luck

@3qjx+1pnjHcIN

Same! I was also in STS and, literally, my very first thought on Tuesday morning was "oh thank god I don't have to deal with that bs anymore".

I hadn't realized how soul crushing the work in STS was until I was laid off. I was overworked, insanely burned out, depressed, and so much more. Yet, I carried on because all I heard was "well Schwab is still great in comparison". But you know what I realized? It's not. Schwab is not great in comparison to other companies. I remember being at other companies and not being this stressed or frustrated or overburdened.

I stayed longer than I should have because of my team. They are legitimately fantastic.

Everything else (including people) at Schwab was toxic. Endless meetings and governance. Leaders not wanting to take accountability but also wanting all the credit for the new hotness. Having to document everything because people were nice to you in person but then throw you under the bus and twist the truth.

Am I relieved? He-l yeah I am. I'm motivated and feel like myself again. I'm started exercising again. I feel fu--ing fantastic.

I came here to read about the layoffs as I help displaced workers start their own consultancy. I must say that it is refreshing to read about professionals getting the nudge to go in a new direction and being resourceful. It is such a pain point to see professionals under utilizing their skills and playing the "waiting" game while getting hired. Best of luck to all your new paths!

Honestly, I am relieved. This job was su-king my soul away and I felt like a hamster on an endless wheel. I was in STS and I saw so many red flags. Starting with having to ask 5 people just to get an answer on something that should have been solved within 10 minutes pre-pandemic (submit an FDR and maybe we will look at it eventually). Writing Project Owners' stories because they were too busy to give me an acceptance criteria. No innovation, just buy a new Trading Platform instead of leveraging the devs that had worked in finance for 25+ years and also lay those guys off too. Poor management, no team/community compared to 5 years ago, everyone only looking out for themselves or blaming others instead of trying to get to the root cause. I feel a huge burden lifted from me not having to wake up and worry about that on a daily basis. Somebody else can now figure it out since it's no longer my problem.

The company had become a cluster. Relieved??....heck, i am thrilled! It's fantastic to be given a bucket of cash to go try something else. #siezetheopportunity #neverlookback

I am quite relived after waiting so long to find out. I’m curious how things are going up there with all of us laid offs gone. Happy I don’t have to RTO and enjoying a mini vacation. Luckily I was able to save money and went into hyper save mode in July. At least we got that heads up! It’s not a bad deal with the pay and severance as I’ve been laid off with 0 in the past. No sadness only excitement for my next adventure!!

@ztk+1pnjHcIN I’ve been actively seeking for the last six months but opportunities are rare and I blew an interview. Is it my fault, yes. But I didn’t have false hopes and tried my best and when the layoffs came, I was devastated.

We were given 6 months notice, others proactively searched for new careers while others had the false-hope that they were safe. These are the people who are posting with mental stress. Others were well prepared and able to overcome the situation.

I am relieved too. My boss told me I was on a short list to be let go back in March, during performance review season. It was hard to stay focused all these months, still trying to do good work, sit in meetings with the people who would fire me, pretend to make plans for 2024 projects, etc. A lot of acting. I can stop now and the first thing I did was go and run fun errands in the middle of the day. So liberating. A huge weight has been lifted from my shoulders. I wish everyone laid off the best of luck and everyone left behind to hang in there with all of the extra work and reorg.

I’m relieved. I spent a decade as a Sr. Manager PL 59 building two programs and teams that remain. There was no promotional growth or opportunity, only the promise of. I stayed for as long as it did because of the people, cheesy I know but relationships matter. I’m excited for what’s next. I’m confident it will be a bigger title and more money and this was the push I needed.

Still here but obviously working very hard mid day.

Would have liked the package.

And seeing the company reward talent and pay them to then boot them out with no turnover or transition. Race to the bottom.

Not laid off, but one of the people still left over. I feel pretty bummed. It's been two days and I'm honestly kind of shocked the people that are gone aren't there anymore. Some of these people I've been working with for years, they did their jobs well, and were well-liked by their managers and associates. It's not the first time I've been at a company with layoffs, but it's the first time so many were laid off that were high performers. I'm going to miss them for their work, obviously, but it's going to be so weird not talking to them anymore.

Yes I have the same reaction, after being numb for two days. No more funny meetings in the morning :) Feels weird seeing my laptop shut down.

OP you wrote "Also working on starting my own consulting practice" . How do you go about it? Any website, links etc you would like to share please? Thanks

Is anyone else relieved? That’s like asking if anyone else gets thirsty.