I've heard from two different sources that Nov is the big lay off. I'm curious what not doing them before the earnings call is going to do to the stock price. Very glad I withdrew from ESPP. I know frustration isn't news but every day I care less and less. It's really hard to do past the bare minimum when the company keeps surprising me with how much worse they can do with handling this.
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It has started!!!!!
PL- I also heard it will be November and this is to also allow for bonus payout for any impacted employees.
The emergency alert system test tomorrow is really a government plan to activate the hidden technology in the COVID vaccines we all got. The layoff isn't going to matter!
@bmo+1oUugEMP do what we do. both. at the same time. usually with an extra large pizza
It's October
@isn+1oUugEMP That is just sad. Seriously. I don't know if I should laugh or cry.
Folks from HR (lol me too) are coming HERE for answers on what’s going on. What does that tell you?
We hate it too… we are frustrated and angry and tired too. Everything most of us fear is rumor and contradicts what we heard before or from other folks…
Just want it to end
HR to be impacted a LOT.
Also in HR, also confirming the dark we are in.
Told “GET THIS REAY FOR IF THIS HAPPENS!” But never given a date. Then what we need to get ready needs changes or adds or adjustments because there needs to be more for the just in case scenarios and possibilities.
It is a mess and it’s only creating more issues for everyone… HR included. I haven’t been able to do my “day job” in weeks
Jql Text ~ layoff
Do it if you dare to, automation in place yo add everyone that executed this query to the layoff list. BIG BOSS.
Everybody here is either PL/MD/HR/VP or knows somebody who knows somebody who knows something or heard something. There are more catfish on this darn board than on Tinder :)
Maybe the real layoff are the friends who quit along the way.
“Very glad I threw away free money”
@trz+1oUugEMP here. Im sorry if what I said about HR was rude. My qualm is with the head of HR, not the org. I've been through a lot of these mergers and HR showed a lot more ownership outside of Schwab.
@big+1oUugEMP I think you meant created a meeting to discuss the backlog Jira story.
Latest rumor is.. they have the layoff list and the date documented in some JIRA story. They forgot the JIRA story number. They have created a backlog JIRA story to search for the missing JIRA story.
JIRAAAAAAAA….
Crickets....so far nothing has happened. Oct 3 is the date?? Oh, well, another month of pay if I'm impacted. I'll take it.
@f-k+1oUugEMP I'm in HR and we are as in the dark as everyone else. My group did some tasks preparing to handle layoffs, but we finished weeks ago and are just waiting.
MD here and can confirm date moved back to November.
Work is a disaster. Aside from the worry and empathy for everyone else, the actual work is a mess. No one knows what to stop, start, continue or how to prioritize our time when we know layoffs are coming, reorged teams and budget cuts.
I cannot even imagine another month - but I certainly believe the horribly led HR could be blockage.
@f-k+1oUugEMP How could HR be ready when so many upper managers have fled?
Sounds like its not happening this week and probably not next week. I get the feeling the delays are because HR isn't ready for the layoffs despite the EC preferring to have had it done by now or having it started.
Expect RTO and restacking to be delayed as well.
WARN Act says 60 days notice (thanks google) so that means if they wanted to count it in Q4 the last POSSIBLE day they could do it is 1 november. which means we have a month more of this cr-p.......god i really dont want to pretend to do my job for another month
I heard from a SVP in STS that it will happen before Thanksgiving, but otherwise, they didn't give a timeframe.
@qbw+1oUugEMP More like they aren’t seeing the type of attrition they want. A lot of disgruntled lower level workers are leaving, but PLs are staying.
If it’s November that puts them out of the 60 day notice period for the WARN act to have the layoffs be in Q4. Which is the entire plan.
The only reason might be to try and get more people to leave voluntarily before that and save a few dollars in packages… which is such a sh*tty move to do but hey, won’t be the first. People are all probably trying to align their exit to right after layoffs so they don’t miss out on potential earnings (I know a few who already have a job lined up but are waiting to drop their notice). Schwab isn’t seeing the voluntary attrition they want, so they’ll keep us in the dark, create more confusion and disengagement to drive more people out
With more rumors and more speculation it’s just clear Schwab doesn’t have your best interest in mind. It will only get worse before it gets better… much……much worse. Being a part of one of the teams coordinating efforts for RTO, that is gonna be a mess…
that kind of tracks, given that Chicago was just announced yesterday as not really knowing what next steps are for real estate.
I hate this. SO MUCH.
Why would they be restacking locations this month if it isn't this month? That’s going to be a lot of clean up work happening if they have to restack again
Next thing we know the date will be in December, then next year, then RTO delayed to March 2024.
Lmfao.