Thread regarding Charles Schwab Corp. layoffs

Nahhhhh. It's like d day...

Look around you, 1 in 5 will not make it out alive. Good look

calm down most employees will be fine

Can confirm that the HR meeting was also available Friday afternoon. My manager was out of office this afternoon so he accepted the one on Saturday instead. Manager from another group took the meeting this afternoon and will not be joining on Saturday or Sunday.

Multiple directors in Ops/CBO have invites this weekend. Fml

@vid+1piARyso Sir are you saying that being on the invite is no guarantee of safety from layoff?

You have to create a meeting invite and add a director and then look at the scheduling assistant. Scroll over to the weekend. It’s now showing as a Private Meeting no longer says HR on the ones I can see.

Big thanks to OP whoever you are!! Finally some relief and got to mentally prepare today. Plus get my accomplishments all accounted for from my notes so I can fix up my resume!!

Let’s just have a nice weekend and don’t worry. It’s all going to be ok we will find jobs…we are smart people. Plus we’ll get a little mini vacay. :) hope everyone saved some $$$!

How is everyone viewing these calendars is my question.

Just got a meeting invite for Monday morning. Guess it’s my turn.

I see these weekend meetings on my director’s calendar but not senior manager’s. Oh well. If it happens at least we rip the band-aid off. Good luck everyone!

From STS. There on my Director(PL)'s calendar. Its time for heads to roll next week.

Confirmed as well. D day is probably Monday.

I went through the whole Finance org and it runs the gamut as to who has the weekend invites. Most are MD level, but I also saw some Director level and some Sr manager level. However, one of the invitees has their calendar open so you can actually see what each meeting is for (good god I have no idea why)...and I can confirm the "weekend" meetings actually happened today as well.

So it's today 10/27, tomorrow 10/28 and Sunday 10/29 3-hour blocks from noon to 3 pm mountain time. The invite is called "Optional: Live HR Support for Managers"

I think it's safe to say this means the layoffs are starting next week. And the people who have these invites on their calendar have been tasked with being the bearer of bad news. I only see two MDs in my org with it...and I wonder if that means they will be centralizing the notifications. As we are a big org, so I would bet every MD would have some impact, but who knows.

Good luck next week! I am hoping my number gets called for sure.

I see a Director PL with an invite in STS.

So if your manager and MD have these meetings on their calendar for Sat/Sun, is it safe to assume that people under the manager are going bye bye? Does it include reorg as well?

My manager and his manager have time slotted (40 minutes and two 30 minute shots) for Monday morning where they are usually not busy. I think that’s a giveaway.

Looks like only MDs have the office hours invite. Most are tentative, but some have accepted certain 1 hour slots. I don't see any Director PLs being invited. This is in STS only.

A data point from within HR: my manager does not have these meetings on Sat/Sun but her manager (MD level) does, as do some other HR MDs.

A big NO @flf+1piARyso. Not all have the invites. I checked STS MDs and Directors and 2 have among 20+ I checked.

If I am not mistaken every PL is invited to the Saturday/Sunday sessions. Can someone who has received the invite tell us what it is actually about?

I see some invites for MDs between 11AM to 2PM Mountain time on both Saturday and Sunday.

My MD and their boss have meetings at the same time on Saturday or Sunday! Not STS. Dear god let this be over.

STS is definitely not impacted as there is no meeting scheduled for any STS Directors or MDs for this weekend.

As a former PL at Schw, dont believe it that they wont have a PL go thru the process for impacting some of their folks and not be impacted themselves. As it happened to me in 2019.

I see these HR office hours on my directors calendar Saturday and Sunday 10/28 & 29 as well.

I can confirm that there are NO meetings over the weekend for STS MDs or Directors this weekend.

Going to be a very spooky Halloween, indeed. Can confirm it will be happening on Monday and some org announcements will start going out Tuesday

I can confirm that many Directors and MDs have live HR support office hours on their calendars for 10/28 and 10/29.

Good call out. All notifying managers have weekend meetings blocked. Go check if yours is. Looks like it's actually the whole company

Monday it is. Good luck godspeed.

Although kinda looks like it's 1/2 the company.. maybe the second half is post tg

Monday seems to be it, I guess MDs have weekend meetings on their calendars to watch football games together?!?!?

@gfm+1piARyso here again. Why is everyone behind this Monday? Where are you all getting this info. STS MD here. We are already told that it is not happening for next 2 weeks.

I am not sure why people think its this Monday. Layoffs are scheduled to happen after the integration. Wait for 2 more weeks. Please do not worry about layoffs for now. Everyone, happy weekend!

This sounds legit, but with all of the fake date speculation that’s run rampant on this site, I’m not so sure.

First, it was after TG4. Then, basically every Monday/Tuesday since. Any sources other than what’s been posted on this thread?

The math adds up, but I remain skeptical

@rgs+1piARyso That’s correct. Impacted employee access will be terminated that day, you will receive instructions to return your equipment etc., via pre-paid box that will be mailed to you.

While you are still technically an employee during the 60 day notification and receiving your regular paychecks, benefits etc., you won’t have direct system access like you do now.

You’ll receive instructions with login details for external access to limited systems such as Workday, viewing jobs etc.

@aod+1piARyso If management knows then they probably wouldn’t approve the PTO. But if you managed to somehow slip through then they’d try to call your cellphone, message you via private email, etc.

@OP+1piARyso Oh so you mean , laid off people will be on payroll for two months, but they will not have access to Schwab laptop/systems anymore? So no work at all during those two months?

@aod+1piARyso

I’d imagine that if you are impacted, Schwab will by all means attempt to reach you regardless if you are sick, vacation, float holiday, etc.

They’ll call you and leave messages, text etc. Their goal will be to deliver the message to you.

Regarding timing, expect it to happen early ie between 7am-10am local time.

From experience of being laid off from Schwab last year in October, it happened on a Monday, one up leader set “Catch Up” meeting 30 minutes before conversation (8am) and there was no one else on the call (he was on camera I was not). Call lasted about ten minutes, scripted, was job elimination and I could apply for other jobs during the notification period. He quickly went over the package, it was emailed to me and then overnighted. Was very transactional.

Had Schwab access until 4pm local time.

Sh*t, I may just logon early in the hopes they'll get me out of the way first.

Any idea if any branch reps will be hit ?

What happens if somebody is supposed to get laid off but they are out of office or “sick” on Monday? Anyone know how this was handled in the past?