Just curious if we will have more layoffs this year since the stock is down 10% this year. Revenues are in decline and everyone here are posting only negative things. I am worried.
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You will not collect as much as you think by suing Schwab but it will bring attention to their abusive behavior and bring down some of the seedy managers. If you are ready to retire and do not plan on working after Schwab, go ahead and go public with the lawsuit. With a public verdict, it will pave the way for class action suit.
What Schwab is doing is harassment. Hard to believe it's so blatant but it could be they are pushing the envelope on this one and hope that only a few will sue and figure any lawsuits will be settled privately.
But know that if you name your manager(s) as your aggressors, you can get them in trouble too and take them down with you.
I would rather run a shop dedicated to stamp collecting than sit in another meeting with a bunch of overpaid talk-a-lots in upper leadership positions that probably can't change their own tires
Adding to @eii+1qWBbscc
If you are being targeted and/or thinking of quitting you have three options. You should consider the first item even if you think things are great.
- Document everything with audio recordings, notes in real-time or immediately after, emails and other materials. Move all to devices and locations that you control and assume that you will only have access to some emails and messages via discovery. That will be difficult and time consuming compared to having it in-hand. Do not engage the ombudsman or HR. The ombudsman is fairly impotent and will simply engage HR. HR will only seek to defend the company by dismiss you or getting evidence against yourself. You are not a lawyer. Don't think HR helps you. They work against you.
- Number one with written responses to HR for factually erred reviews, warnings or other official communications within one week of your receipt. Take your time responding, but be direct and have someone else read it first. The argument is that, if you're a good employee, you will diminish the company's single-handed efforts to create a negative narrative against you. Their goal is to protect from litigation. Your goal is to make certain they don't control the case. Be honest with yourself, but don't let mind games to make you doubt yourself either. What managers and HR write doesn't have to be true. Your responses, on the record, immediately, and to the company makes them contemporaneous and the company has a chance to respond. This is far better than trying to respond years later. It raises your profile though. You have to decide if you want a bigger target on you.
- Engage counsel. They will advise you to follow item one immediately. Each state is different with limitations and sometimes hostile to the employee labor law. Your objective will be to leave with money. You don't want the job, nor will that be an option, if it gets to this point. Resolution will take the form of a demand letter where you hope the company wants to get rid of you quickly. Having solid records and actionable claims helps. For example, if you are told you are doing great and then your review is negative you have reason to explore discrimination or other causes of action. They can fire you in most states for no reason, but when they lie to make a case it isn't for no reason anymore. If it goes to arbitration or litigation, find a firm that works on contingency.
This isn't legal advice. It's guidance that doesn't hurt. If you are pushed out you want them lay you off with severance or have the best case to arbitrate or litigate. You can win and they settle. You should be ready to legal up and don't let them bully you into a lost reputation or rights.
It’s the journey. Another buzz word. It’s not how you get there, it’s the journey you take to get there.
The new buzzword, Transformation=more layoffs later this year. Robot Rick will take over and in true McKinsey fashion layoff a number of dedicated and great employees. Walt an Rick will blame the Fed for not lowering interest since the coil spring broke.
Don't quit no matter what. Wait for them to fire you. Undoubtedly, branch manager will also harass you. If things get too tough, consult a therapist for stress and an attorney who is well versed in Schwab bullying and chi ching!!! Schwab will always settle because juries and judges hate Schwab - regardless of fault - and will rule in favor of the employee.
Don't ever go to HR. Go straight to an employment law office well versed with Schwab's evil maneuvers. Google.
Take the management down with you. Name all the bullies and drag their careers down as they tried to do with yours. Harassment, age discrimination... heck, just share stories with coworkers and most will tell you that the same is happening to them. No need to look far.
Call 911 and get an ambulance to take you to the hospital because you feel a stroke or heart attack coming on after they bully you. Do so while in the office. At home is fine too. Just make sure there is plenty of documentation and sue them to oblivion. If Schwab continues to bully you or harass you or force you to quit - sue them again for retaliation.
Is Walt a better ceo than Rick. That is like saying choose a firing squad or lethal injection to get rid of the sc-m of the earth in jail. Neither are best choice . What has Rick done to prove he is qualified, even Walt for that matter. Rick was part of the good ol boy pat on the back network. Have him start NOW to tell us , employees and shareholders (as most of us have been here 5 years are) how he will bring us back to where we were when chuck was running the company. You know, integrity, & truth, bonuses,stock price not bleeding red , ….what are his new models and designs he has ready to share to bring co to being profitable . Has he thought about that , at all, or just the same laying off more people and “cutting expenses “ neither brilliant or innovative,and at some point there will be no employees left to lay off.
So if there are layoffs will it be in Q3 this year ?!
Rick has the personality of a celery stick. Yes, Walt lied about RTO now he will lie again when he backtracks on another major layoff
Is Rick a Better CEO than Walt ?
That’s hysterical.
Rick ain’t CEO yet. But he will drive the company to ruin quicker. Rick is a wannabe. No skill. No talent. At least Walt had some.
As a publicly traded company, it is hilarious how this public website documents that the rank-and-file are upset and do not trust leadership.
Great job, leadership! lmfao. Smart algos ought to scrape this site for insights. The people at Schwab don't know how to scrape, but they sure can schedule a half dozen meetings to 'understand' the issue.
Is Rick a Better CEO than Walt ?
Yes we are having more layoffs. They aren't because of the stock price. They are a combination of planned reductions as the merger winds down, planning for Rick's move to CEO, coverage for bad bond decisions, cover for inane interest rate planning and a general move to move out talent and older workers for cheaper and easier to control grunts.
That's it.
Don't worry. Plan! Have savings ready. Start looking. Document anything and everything regarding your work whether it is positive or negative. Look for sudden changes in message. Look for set ups where you are told you are a good boy and then you aren't.
They want you to leave voluntarily. They have no problems encouraging you. They have no issue with that being sc-mmy or even illegal. And they don't care if you are the lynchpin keeping the company together.
I wouldn't be surprised if there are more layoffs. Everyone is miserable. The EC doesn't give a sh-t about destroying the culture of the company, let alone destroying it financially.