I’ve heard through the grapevine now from multiple sources that managers are getting their numbers & how many need to get cut. Not sure yet on timing, but sounds like after TG3. Most departments impacted, including the BN.
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Does anyone know if the Board receives the results of the Glint surveys, or is that just an internal device?
When I was in mgmt around 2002, we were asked to rank the employees on our teams. I ranked my 14 employees. The 2 at the bottom got laid off.
The Bobs. They are the 3rd party consultation firm. You need to justify your worth. And having a red stapler is always a plus.
There is definitely employee ranking.
There is third-party company.
These are not mutually exclusive.
15% of GL57+ will be cut. If you want to see a dog sh-t company wait around till how toxic stuff will get next year when account growth turns negative.
This is 100% unmitigated bullsh-t. There are no ‘3rd parties’ involved.
Why would a poster say they (as a director) absolutely volunteers names without saying, “ I as a director have volunteered names.”
More false information. If you’re a real MD/high hierarchy director who’s in the know, all you’ve introduced to this thread is a hypothetical employee ranking system nobody has ever seen used by Schwabbies.
Older employees who have been with company for a while.
Demographics?
I have a feeling they are REALLY looking at demographics form what I am seeing
would it be ok for me to ask what those 9-box activities are? Thanks
Wow, we were told only third party co would make the lay off decisions. There would be no mgmt voice , even to make a final decision.thank you for letting us know.
@vwk+1nZ9JKuO’s post is 100% correct. Lower level MDs and potentially some other PLs scored employees based on multiple factors but the final outcome is given from a higher level.
So if you don't know, don't post. You are incorrect in your thinking. As Directors/above, we absolutely do provide names based on 9-box activities, performance reviews and discussions. No third party selection. Legal and HR absolutely review this information and possibly with third party involvement, but we give names. Absolutely. What we are not informed of is who is finally selected or when it is going to happen, until right when it is going to happen.
I have no information to support or not support this so take it with a grain of salt.
Seems like OP is a troll poster. I’ve seen multiple layoffs at schwab, including the 2018 surprise one and nobody’s manager is ever informed or asked for names.
A third party does it to prevent discrimination lawsuits, so leaving it up to the managers would just result in them firing the oldest people.
Thanks for sharing. The best part, after management decides the numbers, once they implement, who’s to say their job is safe. Thanks for taking care of that, not we have a meeting invite for you, oh yeah, you’ve been impacted also. “That’s grrrrreat” Thanks!