Thread regarding Charles Schwab Corp. layoffs

59 PL - Received my meeting for Monday

I received my "meeting" for Monday morning at 8:30 CST. Its all good and expected with the current company health. It is all OK! You are going to be OK as well. There are some crazy things going on in the world right now and this is a small little fraction of your world. Stay strong as Paul writes in Ephesians Chapter 6.

This is a small little blip on the radar of your amazing life.

Be Awesome Everyday and KNOW you have something amazing to give. Go get em out there!

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| 7820 views | | 40 replies (last October 29, 2023) | Reply
Post ID: @OP+1pkHsTDZ

40 replies (most recent on top)

At this point I have a question about the schedule. Based on a previous post HR mandates that layoff notifications must complete before a deadline in each time zone. Do we know what that is yet? So far in this thread I’ve seen people receiving meetings for 8:00AM, 8:30AM, 9:00AM, etc. Is 9 or 9:30 the latest the announcement must go out by?

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Post ID: @vsr+1pkHsTDZ

I’m the poster from @ree+1pkHsTDZ no none of the director-level PLs with 8 AM meetings tomorrow were in the weekend meetings. They all manage <5 people, so I am not surprised if they are being cut. I am surprised they have meetings before any ICs, none of the ICs on my team have unusual meetings on Monday (so far…).

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Post ID: @uof+1pkHsTDZ

All notifying managers had a weekend meeting.

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Post ID: @pnn+1pkHsTDZ

Rick should not be the new CEO

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Post ID: @nat+1pkHsTDZ

@ree+1pkHsTDZ out of curiosity do the PLs have weekend HR invites too?

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Post ID: @fuy+1pkHsTDZ

For those two ragging on my below. First. This su-ks. I did not make the choices, have no idea what to say, and absolutely do not want to do this Monday morning... making this a personal notification is worse on both ends. I'd rather it be a standard email and be done.

Yes I am sorry, no I don't want to be the notifier, and I really done have much to say.. and yes I'm just doing what I've been told I have to what else is there? Life goes on.

Also for those who didn't know, Rick W. Told all md's. "do not be apologetic'. How crazy is that #$_+. He said we are supposed to just state it's something the firm has to do.

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Post ID: @zuw+1pkHsTDZ

@dhj+1pkHsTDZ Same guy probably: why aren’t my employees more engaged? WHY!!!!!

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Post ID: @qjr+1pkHsTDZ

Just peeked at my team’s calendar, and it looks like all PLs on our team have an 8 AM CT meeting with our MD. Guessing it will be a series of quick meetings rather than in a group? And then they will meet with ICs after?

Can any of the folks doing the layoff confirm that this order of operations makes sense? I know we will find out in 24 hours, but I don’t like surprises. I don’t see any meetings with ICs and the MD scheduled, and I would be shocked if none of us are also laid off.

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Post ID: @ree+1pkHsTDZ

@znu+1pkHsTDZ Wow you must be a real treat to work for. Monday morning, gotta take out the garbage. Gotta do what I gotta dude. Colleague of five years I’m laying off? What can I say except that you’ve outlived your usefulness? Sorry about the boot. Was only following orders. Should be done in a minute and don’t forget to take this popsicle with you on the way out. Happy Halloween!

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Post ID: @dhj+1pkHsTDZ

@znu+1pkHsTDZ Not even a “I’m sorry this had to happen”? Your attitude seems rather cavalier.

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Post ID: @fgr+1pkHsTDZ

Good lord this post is off the rails.. settle down.

It's happening first thing Monday morning. Personally I'm going to wake up and schedule a time around 9am for my affected employee.

The conversation should take 1 minute, and that's that not much I can say and I didn't have a choice in it either.. just the relaxer of the news

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Post ID: @znu+1pkHsTDZ

Before we dismiss someone as a troll spreading falsehood we should consider the following:

  1. Not everyone at Schwab reads this board.
  2. Not everyone who reads this board is comfortable to share, NDA or otherwise.
  3. MDs don’t act in a monolithic fashion. Some wants to set the meeting up earlier, some wants to procrastinate and set it up last minute.
  4. Ask yourself this question: if you know or believe yourself to be safe from layoff, would you still be on this website?
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Post ID: @wvw+1pkHsTDZ

@jfj+1pkHsTDZ I have been regularly meeting with MD for the past 5 years and never in the morning. And he very rarely reschedules, given the weekend HR sessions and the secrecy of the rest was the point. Just trying to be helpful that I do think meetings are/ have been scheduled for early next week

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Post ID: @grj+1pkHsTDZ

@rmk+1pkHsTDZ Is there someone else you usually have one on ones with? Not having a one on one for five years is pretty far fetched. My record was not having one for three months after changing managers.

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Post ID: @jfj+1pkHsTDZ

@tnq+1pkHsTDZ

OP of the moved up 1:1, not sure what else to say, but that is real. Also in the dark and have been looking for some clarity from this site which is very sad. Have been meeting 1:1 with said MD for 5 years, very rarely reschedule and NEVER have met in the morning. I’m at a 95% confidence level of layoff at this time.

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Post ID: @rmk+1pkHsTDZ

@fkd+1pkHsTDZ

@tfy+1pkHsTDZ This guy claims that his one on one got moved down a week. To be fair though his claim of not being a troll is oddly specific, so I'm not sure how trustworthy that is. There is also the possibility of schedule conflict?

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Post ID: @tnq+1pkHsTDZ

Can anyone else confirm they got a meeting for Catch Up from a PL on Monday, like some have posted?

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Post ID: @rke+1pkHsTDZ

@rga+1pkHsTDZ To be fair trolls are pretty easy to spot. They usually do low effort postings like "Oops it's actually Les Schwab" or "today is the day" so and so forth. They don't add any information that isn't already public knowledge and since the admin can see their IPs, those messages are usually deleted pretty quickly.

@fkd+1pkHsTDZ Didn't one guy claim that being invited to optional HR meetings doesn't necessarily mean that you are safe? He claimed to be a PL back in 2019 and got laid off even though he attended a similar HR session. I think there might be a bit of truth to it since my manager has the invite for the weekend HR sessions but not only he has not joined them, he kept logging on and off periodically in a suspicious fashion. Unless he is checking for employee sleuths I think it is pretty obvious that he doesn't know if he is safe either.

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Post ID: @ejz+1pkHsTDZ

@chp+1pkHsTDZ

"I did a process of elimination assuming those who got invites are "safe" themselves but have one or more directs who are not."

Not quite the correct assumption. My director (PL) did not get the Wednesday invite for "position elimination HR training" but was invited to the weekend optional HR sessions, neither of which she accepted. I am beginning to think that the PLs with invites are "safe", but may or may not have impacted employees. I think that since reorg is also HR process maybe any PL who is safe is free to attend?

I do agree that we will know soon enough.

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Post ID: @fkd+1pkHsTDZ

This site is so full of trolls, misinformation, and paranoia that it’s insanely difficult to discern what’s real and what’s fake

We all keep coming back tho… because it’s the only info we have, true or not. This whole 3-4 month process has been an utter shitshow and it’s a godda-ned shame how far the trust in this company’s fallen. We’re reading speculation on a website instead of getting guidance from our leaders, smh

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Post ID: @rga+1pkHsTDZ

I posted @hgh+1pkHsTDZ
Ok, I guess there are a number of confirmations on those that received "suspicious" emails that could be for the layoff. I was just looking at this from another angle, and hope we are all right, and this will be over next week. Good luck all.

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Post ID: @tnu+1pkHsTDZ

Not just MDs and even Ds who got the weekend meeting invites — I did a process of elimination assuming those who got invites are "safe" themselves but have one or more directs who are not. Any PL from what I saw that had an impacted direct (whether Sr. Mgr., D, or MD) received the invite if they themselves were not impacted. What I also noticed is that based on the recipients of said invites, the whole "top down"/inverted pyramid is such a lie — impacts in my org start 3 levels down from the EC member (3rd level of MDs) - and yes, some who received invites only have directs who are client facing (so that was a lie too). Neither my manager nor my manager's manager received an invite, so I'm assuming that's a "safe" sign, but who knows, they could've deleted the invite because I saw that they were online when I was doing my sleuthing around 4pm. In 32 hours or so we'll know, so no use in wasting another day. For anyone keeping track — the employee count in Walt's org as of 10/27 was 34,600 and today was 34,590.

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Post ID: @chp+1pkHsTDZ

@dbh+1pkHsTDZ

https://www.thelayoff.com/t/1pj3N3VW

Looks like confirmation to me. The guy even gave a count on the number of people effected. It is possible that he is the OP's sock puppet I guess, but we'll know soon enough won't we.

For me the fact that we have 3 hour long HR sessions specifically for PLs not one, but both days over the weekend is a huge red flag that something is up next week.

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Post ID: @exo+1pkHsTDZ

Not a troll. 59 PL here in STS, I had my quarterly 1:1 with MD moved from last Monday to this Tuesday at 8:30am. VERY certain this is a layoff meeting as my director and MD both had the weekend meetings.

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Post ID: @tfy+1pkHsTDZ

@hgh+1pkHsTDZ Why is it so hard to believe that the meeting invite was sent over the weekend? I've had a team mate who received an invite on Friday afternoon for layoff on Monday morning before, though admittedly it was not a mass layoff like this one. For all we know the OP's MD might've thought that the OP wouldn't be logging in over the weekend and felt that the optional HR meeting was a good time to take care of some business.

I can confirm that two senior manager level PLs from our organization have been invited and accepted these optional HR meetings. It is not directors and up.

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Post ID: @rxn+1pkHsTDZ

This is the same person that was claiming that there was a "list" being submitted on Friday. The same exact troll. I don't know why y'all are believing them. If it's constantly one person claiming things and no one else affirms them, be suspicious.

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Post ID: @dbh+1pkHsTDZ

I feel like we all being played and conned on a level of such extreme proportions. First, I am suspicious of anyone claiming they received the invite already for Monday morning. They usually send this the morning of, with almost no lead time. It doesn't make sense for PLs to send out meeting invites on a Saturday. Second, not even sure if this is going to happen Monday or even Tuesday. This is what everyone wants, or a lot of folks want, but that doesn't make it any truer. Finally, these so called HR optional meetings this weekend. There has been no confirmations from anyone on the nature of those optional meetings. Most likely because most of the attendees are MDs, and are officers, and would not ever post at a site like this.

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Post ID: @hgh+1pkHsTDZ

Good that we’re getting closure to this madness soon.

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Post ID: @ohc+1pkHsTDZ

@pqi+1pkHsTDZ If it is your time to go, Schwab has other ways of reaching you, even if you are on sabbatical or are sick.

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Post ID: @qhx+1pkHsTDZ

my meeting says “Catch up”.

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Post ID: @dqd+1pkHsTDZ

Former SCHW employee here of 23 years. My best regards for anyone getting eliminated. I left 1 year age, but was a rebound from layoff and quit. There are brighter times and opportunities. Keep your chins up and all the best to you.

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Post ID: @ibp+1pkHsTDZ

I’m response to @buk+1pkHsTDZ 100% DID receive the meetings invite today.

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Post ID: @sjq+1pkHsTDZ

God bless and best of luck in your professional career OP. I have faith that you will turn things around very quickly and find a much better job than this one.

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Post ID: @jbn+1pkHsTDZ

I know these are dark times, but you guys will believe anything. This person didn't receive anything, those invites haven't been sent out yet. Just a troll desperate for attention.

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Post ID: @buk+1pkHsTDZ

I guess the smart thing to do is pre-emptively block off your entire calendar for Monday morning - with a 5-hour meeting with one or more of your co-workers.

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Post ID: @pqi+1pkHsTDZ

I always believe everything happens for a reason. You have a great attitude and will land at a much better place.

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Post ID: @fka+1pkHsTDZ

Really doesn't matter whos invited. They can just join. It is pretty scripted.

It is Monday for those impacted at least in parts of STS.

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Post ID: @iak+1pkHsTDZ

Good luck OP! I admire your attitude and will try to emulate it myself too. (I have no idea if I’m going to get a meeting. 57 IC, nothing yet for me.)

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Post ID: @tmx+1pkHsTDZ

God Bless you with peace and grace. There are many who want to be included who won't be, and many who don't want to be included that will be. The only thing we can control is our attitude and where we put our faith.

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Post ID: @mca+1pkHsTDZ

What’s the subject of the meeting? Who is invited other than your manager ?

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Post ID: @ehk+1pkHsTDZ

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