How much does everyone think performance will be factored in when considering layoffs? The whole process has been terribly handled and communicated from the start of course but wondering if there will be any level of director input or discretion, or are we all at the mercy of some consultant’s excel spreadsheet?
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@4lrm+1o3mcQTt Based on what I’ve heard on this site from multiple sources it will be two weeks after TG 3.
I heard there will be a big hit on September 1st. Is it true??
I have seen plenty of dead weight make it through layoffs and rockstars be let go. It is all a numbers game. Long tenure and higher salary equals a target on your back.
It is BCG (Boston Consulting Group). They did all the previous layoffs and managed the severance process, site, and documents. Same with the upcoming layoffs.
This is @1rxf+1o3mcQTt
Just to clarify, I am referring to Floyd and the abortion decision
Lol what? Ok I've been at Schwab for a while now and fail to see how any of this is relevant. Schwab is a rumor mill and I never heard of anyone speaking up against Schwab for this.
Might you be a troll?!? My spidey senses say yes.
Hearing that this is opportunity for EC to get rid of those who are encouraged to speak up, but don't understand that's not what's meant. For those who complained about RTO, complained about the lack of comment from EC about the abortion decision, for those who complained about the tepid response after George Floyd ("colorblind"), payback is here!
Heard outside firm is Boston Consulting from a HR friend. Code name Project Boston or something close.
No company ever randomly lets people go unless your company is going under. Performance is a factor along with a lot of other things. Great performer, horrible co-worker... yeah you are a target. Low performer, HR nightmare, all on the list. That will cover a lot of the layoffs, then it gets harder but you will always hack from the bottom or try to combine teams an eliminate manager overhead.
@gdj+1o3mcQTt What stops you from volunteering to be laid off? Some people works hard to get exceeded and you hope it doesn’t take in account?
Hey we got to save money but we are going to pay a 3rd party to do the layoffs….makes total sense typical Schwab using 3rd party for most stuff.
Russian roulette?!
depends on your department. if you are service or branch network it’ll be basically the only thing that matters.
I hope performance has no factor. In got exceeds last year and KC and I'm praying I'm let go.
I had steak tonight and it was good.
I heard it's a third party choosing who is laid off via numeric scores given by managers. Talent, loyalty, years given don't mean a thing! The EC only cares about their pocket books sc--w the workers.