Thread regarding Charles Schwab Corp. layoffs

80 hour weeker here. Just finishing my 4 X 20 shift. Tired.

That’s funny. Too bad those working 80 hour weeks didn’t get it.

On the table for consideration are 2x20 workdays, Monday to Tuesday. They are planning to pilot this in STS.

Why would we go to half-time?

On the table for consideration are 2x20 workdays, Monday to Tuesday. They are planning to pilot this in STS.

If it were up to Schwab management, it would be zero days per week with zero pay. Right now they are trying to get rid of employees so why would they even encourage any policies that would motivate an employee to even consider sticking around?

Offsite resources - SENIOR - wth - most of the US FTE's have to train those sr dolts

3 X 13.33333, Tuesday to Thursday.

@eob+1srbU9bd Not the entire STS, there are few 56s and 57s who are doing similar work and eagerly waiting for promotions. But I agree, most of the work and ownership burden is put on the on site FTEs. The 'senior' resources offshore doesn't seem to be as senior as they sound.

I can say in STS level 58 & level 59 Engineers do more than 80% of the work. I have seen it across many teams over the past 5 years. The rest 20% of work is done by the remaining 80% workforce in most STS teams. I have worked before in other S&P 500 companies on various technologies, Desktop, Mobile, Networking, Virtualization, HealthCare, Full Stack, Functional Programming, Systems Engineering, Supply Chain and ERP Etc and comparing to my previous roles to Schwab, I see most people here at Schwab i.e. Managers, POs, PMs, Directors are just in meetings adding absolutely no value. Bottomline we can reduce the headcount and also give flexibility to high performing engineers at least in STS. And some day with Gen AI even my role will be replaced by a high performing, fast learning Bot/Node but that's progress we don't want to go backwards.

@tzl+1srbU9bd

Exactly! Productivity is worse in office 🤣

The company wants 5 days onsite to squeeze all of the productivity out of you. They want you in the office because that gives them control to do that.

That’s not the reason.

Five day onsite makes it difficult for you to look for another job or participate in politics. This keeps your wages low and locks in things like housing and schools. It also adds costs for commutes and lowers your ability to save while enhancing the company’s commercial real estate values and political influence in the community.

Productivity is not material. If they cared about productivity I wouldn’t be typing this in a meeting.

The company wants 5 days onsite to squeeze all of the productivity out of you. They want you in the office because that gives them control to do that.

It doesn't matter if its a 4 day work week or a 5 day work week, as long as you have work in your plate, you need to complete it within its due date. I dont even count how many extra hours I work sometimes and i do work less than 4 hours in a day sometimes - depending on the load, code freezes etc. But remote work definitely helps!

I would gladly work a 4x8 with no RTO. I think if your job duties can be performed remotely, then you should be allowed to work wherever you want (in office, at home, on the beach, etc).

I would gladly RTO for 3 X 13.33333, Tuesday to Thursday. That’s my final offer.

Let's simplify as there are two questions.

1. Four days at 10 (or 8) versus 5x8?

2. RTO for those four days versus the current 3/4?

Decades ago Schwab had a 10/9 plan where you got every other Friday off. It didn't work that well. Someone else will need to provide the participation rate, but I think it was <10%.

My answer?

• RTO only when necessary and when bringing small groups together for collaboration. Compelled days, sitting in a cube/office, unable to get a conference room, 90% of the meeting in other cities... bite me Walt. Only a dim sadist would sponsor such an obscene thing.

• A four day work week with each day at six hours. Those hours should be normalized for most workers to be aligned (I'm going to say 9-4 ET). Nothing is more aggravating than scheduling a national meeting with lunch conflicts and spread start times. For the 6.5 hours on Teams meetings they were generously 20 minutes of actual on topic meeting and of that only a few minutes were really needed. People schedule meetings for everything. And they drag out the meetings. Make a deck. Make static graphics. Document in Confluence. Document in a SAD. Document in DR. The job isn't meetings! The job should be productivity to the customer or regulator. That's pretty much it. If it doesn't help the customer with a new feature, stable service or offer compliance it should be evaluated for fitness. I changed my mind. Three days and four hours!

Why would anyone want to return to office at all when much of the company gets 30 hours off and 10 hours working (Monday to Friday). If people have to go to office 4 days a week that means they have to work for 4x8 = 32 hours and only get 8 hours off.

No, I would hate RTO 4 days in a row - Wed and Thurs are the worst - hate it. It costs me $20/day just on gas and tolls to sit in an uncomfortable and noisy cubicle. I get nothing done.

I would like a model where I got to work when I want and if I want. I believe that's the only way to get the best out of people.

I would also like that Schwab arrange pickup drop off for my kids, so I can focus on thinking about what if anything I want to work on. Again it takes time to prepare yourself to be productive.

So no, 4 day work week doesn't cut it for me

Pretty sure the questioned posed was Fridays OFF, not WFH.

Staff has Tuesday and Friday now. Managers Fridays. Why would we negotiate for a four day or zero change?

The real problem is Rick or Peter pushing five day RTO. They want attrition and staffing reductions.

Upvote here for no

Upvote here for Yes