I'm a SMD. We are confirmed for next round of layoffs for the week after the 4th of July. It will fall on the following Tuesday. Target adjustment of 10% of current work force. San Francisco will be particularly impacted greatly. Raleigh will have relative high impact, as the strategy is to ultimately close down that location in the coming years.
Good luck Schwabbies.
Technically it said this week at the original post. It’s okay. You work at Schwab. Comprehension isn’t what we’re known for.
It's possible both dates are correct. Phased layoff.
There are two posts about layoff dates. One after 7/4 and one at the end of July. Which is correct? Please confirm and elaborate what you are hearing. Thanks.
Integrity Unit. They handle deal among other things the Code and Ethics training you are required to take each year. So yes, there is an Integrity Unit. And yes, there is a VP that oversees that area.
Right? Is there even a VP of Integrity?
Wow, when the VP of Schwab's Integrity Unit speaks, everyone just gets scared and goes dark. I was a Schwabbie, let go last year, so I have nothing to lose even if they can do the threatened IP trace. I say it's just smoke folks. Don't be scared, and continue to post what you hear about the upcoming layoffs. Proceed.
You can’t crack my VPN.
For all Schwab employees, this is a formal notice to cease and desist immediately. You are violating Schwab protocol and NDA. We are initiating an IP trace.
There are 1013 views of this posting since it went up. I have to wonder how these crazy people are?
RISC here. Reduced Instruction Set Computer. I can attest, confirm, validate, exemplify, re-iterate, and so on what all my other esteemed SIMD, MD, SMD, and CICS colleagues have indicated.
Well we will find out in about 3 weeks whether these SMDs, DMD, and VP, and SIMD are correct about this date.
SIMD here. Single Instruction Multiple Data.
Can someone please provide a straight answer. You know. Do the needful?
I'm actually the chairman. Though these days, I hardly do much, so no longer doing the needful. My needful, or needy, is to make sure there is a good supply of Depends, and plenty of nap time, out in Atherton. I let Walt do most of the work these days. I call him Walt Disney. I wrote EBT, like a famous US Vice President developed the Internet.
SMD is upper mid management role. Senior Managing Director. It's a stepping stone to VP, officer level. However, got all these new roles, like Distinguished Managing Director, which used to be Managing Principal. You also have MD, Managing Director, which is that mid level role. You had Senior Manager, which is nor Team Leader, and Senior Team Leader, with grade differential. You used to have Technical Director, who are now all called Principals. And you had Technical Principals who are now called Distinguished Software Engineers.... though most of them do not write code, and have done that in probably like a decade. Or more! It's mess out there. All in the name of alignment. With industry. BTW, I am a SMD, and holding my breath for one of those VP slots.
I believe you’re the CEO. So what’s the deal, Walt? When’s the date? It’s not like you can keep this up for another year and a half with these interest rates. You just don’t have the balls to be the first.
SMD is a mid-level role at Schwab. I'm highly doubtful this is a legitimate post
Why don't you guys offer some enticing retirement packages for employees nearing retirement?
Please perform the needful, so that my major doubt can be eliminated. Please perform the needy. Because we really need this right now. Thank you. With all honors.
What about Richfield? They should close that office. RPS is a money losing proposition.
You people are messing with people's lives. We have families, we need our jobs at Schwab to live. Can someone please provide a straight answer, or confirm if you are just making this stuff up? Please do the needful, to eliminate the doubt we have. This getting to be very needy now.
Hi, I am an ultra SMD. Both of these other SMDs are id–ts and dont even work for schwab anymore. Cannot corroborate.
I am an entirely different SMD here. Not the one that posted about layoffs in June, and also not the original poster. I can definitively, corroborate, and attest that my other esteemed SMD colleague is speaking the truths about said layoffs coming the week after the Fourth of July. You can take this as an additional corroborating report.
I'm a Distinguished Managing Director, here to add additional corroboration to my esteemed colleague, who is a SMD. I can corroborate, and attest that what the SMD said is correct.
Aren’t you the same SMD who posted about layoffs in June? It’s be nice if there were additional corroborating reports.
What about Richfield?