Things to do at Schwab before Layoffs

The one advantage of being told we are losing our jobs months in advance? It gives us time to prepare.

Make an appointment at JW: Employee Branch to get your finances in order if you lose your job.

Use your sick time. It’s a “use it or lose it” situation. Don’t feel guilty for taking mental health days. Take care of yourself.

Look up “Severance” on Schweb or MyHR. Schwab’s severance package is pretty generous considering how their salaries are not at all competitive. Please avoid trusting everything you are reading on thelayoff.com because I’ve seen downright wrong info about severance here.

Go to JW: Ariba then click on Staples and order whatever office supplies will help you in your job search. Schwab will likely not make you return an ergonomic keyboard, right?

If you are preparing to interview but have a hard time remembering your accomplishments from 4 years ago, look up your old self evaluations and performance reviews. You likely find a summary of your contributions if they were done correctly.

Go back to your old decks and keep a record of all your specific work so you can prepare for interviews.

On Labor Day weekend, be present with your kids, partners, friends, etc. Don’t give Schwab and its reckless leadership any power over over your mental health especially on a holiday that celebrates your hard work.

Anything else? Let’s use this thread to help each other out.

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Thanks for this OP!

If you make charitable donations, do so now and request the Schwab match, which is 100% up to $2,500.

how do we keep a record of our work and old decks if we can’t email them to ourselves?

@3zfd+1oiEKcnR
You are technically still a Schwab employee during the 60 day notification period, continuing to receive the same pay, benefits like elected health insurance, 401K match, and etc. So yes, you will have access to employee branch, and actually must go through EB.

Totally agree on all of these! Control what you can and let the rest float away…

can anyone confirm if we’ll be given access to employee branch after layoffs?

Go to "Workday" and register with ADP to get access to ADP and your pay stubs via providing a personal email address.

There is information on the Schweb about accessing workday externally.

do we get access to employe branch after layoffs?

How does the employee branch work after layoff? Do you just call a number and they mail you forms to sign? I’m assuming you can’t visit anymore since they are past the badge readers?

@hfj+1oiEKcnR you will still get the minimum business days listed for your level

you get the min

While reading the details serverance package details on myHR..
I'm confused between "min and max cash severance base on job level" and "serverance for partial years of services"

As a level 56, with 10 months of employment, am i only getting "Severance for partial years of services"?

@cvi+1oiEKcnR Only for people from Alaska

Is the 60 day window for everyone? Or only for those located in certain states?

If you are impacted in the layoff:

. You will be given external access to sign into Workday during the 60 day notification period. You’ll have access to pay stubs, performance reviews, insurance information.
. Any accounts you currently have through the 60 day notification period will be grandfathered as EB and you’ll have access to the Employee Branch. Any new accounts opened will be considered regular accounts after the 60 day period.

If you think you’ll need any other accounts, open them now so they’ll also be grandfathered.

You’ll be assigned to a RPS Employee Concierge with dedicated contact who can walk you through options (leave 401k at Schwab, rollover to new employer, transfer to another firm, move to a Schwab Rollover or Roth account etc).

If you’ve used your Schwab email for any personal business for alerts, now would be the time to update that to personal.

You’ll be able to access your your year-end W-2 via ADP website. Write down your login credentials or you’ll need to call HR Direct next year.

You’ll be able to exercise vested stock options and vested stock grants for a period of time (I don’t recall the time period). Any unvested you’ll lose.

You’ll continue to accrue vacation and sick time thru the 60 day window. Upon the end of the notification period, any unused vacation and floating holidays are paid out (no sick payout).

If you have been fully approved for a sabbatical and it’s on the books(fully approved via HRDirect), you’d immediately start your sabbatical upon notification. After the sabbatical you begin the 60 day notification period.

adding:

make sure you are maxing out 401k employer match
if you are still in a position to donate money nonprofits, make sure you do it now to max the employer match

@ike+1oiEKcnR good to know about emailing - thought it would get flagged on the npi. Having the stubs not for a new employer, but if you have to relocate for a job and you buy a new home, will need to show past few months of income.

How do you get external access to workday? Does anyone know?

Anyone know of a good way to save code / scripts to repurpose

@bcs+1oiEKcnR I’ve been able to email paystubs (and tax docs) to my gmail for years with no issues. As long as it’s not Schwab work, you should be fine. Also keep in mind that in some states, it is illegal for a new employer to ask about your salary history

If you go in on occasion or can make it into office, print off about 3 months of pay stubs in case you have to move for a new job and need to show income.

These are great tips / reminders! Thank you kind person!

Thread regarding Charles Schwab Corp. layoffs

Things to do at Schwab before Layoffs

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