Schwab used to be a wonderful place to work when Chuck ran the company. We knew he cared about us as employees. That made me want to work so much harder for him. Today things are much different. Yes, we are upset about RTO and layoffs but that is not the reason all of us are really upset. The real reason is the way that these have been handled. I understand that working from home forever wasn’t always a possibility but when it made leadership look good for promoting it they were all about it but then when all the other corporations changed their minds so did Schwab. We are not stupid we know what you are up to EC. All of the CEOs got together and realized that they now have a chance to seize power of from employees again. If they all agreed to a return to office mandate then they could pull it off. All they have to do is repeat the same buzzwords “culture, collaboration, innovation”. Have you noticed how all the companies say the same thing? Schwab used to have a unique culture but for many years now we have been the same as every other company. We all know that isn’t the real reason for coming back isn’t the culture. They have two motives driving them. The first is that there is a new dishonorable way to get rid of employees called a back door layoff. This is where a company wants people to quit so that they don’t have to pay severance and they don’t get poor media attention, it’s a win win in their eyes. Also, we have major corporate real estate investments that are tanking and getting people back in the office justifies the major expenses these places bring to shareholders. Schwab used to be different where they thought of employees first and if things went bad they were honest about why they were doing things. When you lie or mislead employees for shareholder benefits you lose what made you great in the first place. My loyalty is now nonexistent but all that doesn’t matter now Schwab I just got a higher paying job fully remote
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Been there 20+ years. So different now. the firm has lost the loyalty of many. Supposed to be a "trailblazer", not anymore. All about th numbers. No quality no employee loyalty
Some departments, especially those with sensitive information, will pay you for two additional weeks and ask you to leave that day itself. I have also seen when the person is going to a competitor, they will do the same.
Replying to an earlier comment about 2 weeks notice. In my 15 years at Schwab anyone that gave 2 weeks notice worked the entire 2 weeks down to the very last minute. Not sure what dept pays someone out and sends them home on the day they give notice but it’s not Ops.
@1mfy+1nY09daO
This is not true. After you give notice, most orgs will have you do knowledge transfer. Some may disable your access the last 2 or 3 days, but are still expected to be working.
Totally get the sentiment. However, standard practice at Schwab is when you put in your 2 weeks notice, your last working day will be the day you put in your notice, and they will pay you out for your 2 weeks. So by not putting in a 2 week notice, the only person you hurt is yourself.
No the way Schwab is handling layoffs is not the right way - but have you read other boards on this site - doesn't it appear the same thing is happening at other companies - vague information hoping you get frustrated and move on. The layoffs will occur and I am sure it has been planned out - they are smucks for dragging their feet but everyday it doesn't occur is another day they pay you. As for RTO - search around for jobs a lot of companies are not offering remote like they did a year or so ago - believe me when I say Schwab is not leading the pack on all of this
Nice me too. I’m on my third interview and as soon as I get an official offer I’m quitting. Guess what I won’t be doing though? Giving my two week notice. I’m leaving as soon as I turn in my equipment. At will employment goes both ways. Let’s see how they like the lack of communication and short notice of change
I agree with most of what you said, but I’m mostly upset about the RTO. And of course there is the handling of the whole situation, being lied to, and need I go on from your already excellent points.
The best of times were TDA with Tim Hockey.
100% accurate. Trust is gained over time and lost with one email. Over the years they have forgotten how to treat the people that are delivering their results. I hope the EC realizes that we aren’t just an employee but we are also clients. When (by my choice or theirs) I am no longer required to maintain my accounts with Schwab I will be voting with my feet. As a consumer I don’t wish to support a company that treats their employees this way.
And for all the people coming here to comment negatively about remote work I ask you to consider other factors. Do you think the way Schwab is handling layoffs is the right way going about it? Keeping people worried an anxious? Would Chuck have done that? Do you think it’s a great place to work when we have layoffs every other year? Does that make you feel secure about your job?