I thought the point of these layoffs is to save money, right? Then why are we still hiring people left and right? Just look at the number of open positions that are being advertised - it's in the hundreds. Can somebody please explain to me how is this cost-effective?
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Plenty of roles are crucial to the business. From meeting client needs to managing risk and compliance with regulators. Whatever they might be, backfilling those roles serves in the company's best interest.
The answer is simple. Most hiring is for the phone jobs. This is the worst job at Schwab and turnover is super high. People either quit or move on as quick as possible. The expectations for that role is impossible to meet. They track your bathroom breaks and you get called out for excessive breaks. So do not get sick. There is a reason they require people to remain in this role I believe for a minimum year and a half. Stay far away for that role if possible.
All hiring is not frozen. Lower level roles are still being filled.
They aren’t, no new grant access in weeks. It’s theater
@uzv+1oqKKVmS This exact thing happened to me years ago. Got a job and was told the “training class was full” like a week later. They strung me along for months before finally rescinding the job offer. It was demoralizing af and actually hindered my job search since I thought I’d have employment soon. Doesn’t surprise me they’re still pulling that
Honestly, dude probably dodged a bullet (I mean, look at us now lol)
Read on Reddit that some poor guy accepted a job offer from Schwab in August only for it to get rescinded a week later.
Critical hiring has continued. I’ve seen a few hires start in August in critical roles. It will not look good though when other people from those departments are laid off.
All hiring is frozen. Fact
The reason some positions are still available on LinkedIn or schwabjobs is to give the public an illusion that things are better then they are. Theory.
Because some roles are critical and what’s the likelihood of a director in technology applying for a phone rep role?
Look at the departments not hiring. That is where the deep cuts will come from.
We are cutting 3-5K jobs at the end of this month. I agree with you. Not sure why we would hire right now. I’d place all roles everywhere on hold till that cut and then allow those impacted to apply.
Fire someone making $185000 + 15% bonus.
Rehire at $100000 + 10% bonus.
Rinse repeat
Because there is no true leadership and strategy to drive decisions at this company.