Thread regarding Charles Schwab Corp. layoffs

This thread and essentially the board itself reminds me of a certain Bedouin apothegm: "I am against my brother. My brother and I are against my cousin. My brother, cousin, and I are against the world." These months have showcased how pitifully insular and hateful the disparate parts of this company are toward one another. It is only those closest to where you stand that deserve recognition, apparently. We should view each and every working member of this organization as being one of our extended family, with similar goals. All I hear from this is that you and (maybe) your team, dear reader, are most important. The cogs grinding below are of no import and the ones above are useless.

@1tyd+1ph6Dftf

This very nearly happened to my area. But thankfully I led a counterattack and was able to win the argument with senior leadership. Blue thinking remains the order of the day in my area but we managed to pull in some really great green technology and staff to run it.

I had a feeling this was a much larger occurrence than what I observed. If there'd been Blue leads recruiting and guiding these teams, it would have made all the difference. Good for you for making that happen!

I'm from the Green side. I have absolutely no idea how they could shift all of our work to another team since we're already working nonstop round-the-clock. I assume things will somewhat die down next year around February as both service teams and IAs get more acclimated to Schwab terminology and processing. In regards to the layoffs I can only say I am ambivalent at this point. Every day at Schwab is a waking nightmare, it feels like a traditional vaguely malevolent corporate machine that is comfortable only to the sociopaths that thrive in these sorts of environments. I'm quite glad to work, especially from home, but at the same time the thought of a year off to rejuvenate from this place would be wonderful.

Hard to say. I will say that I have lost all drive to bother caring about my job anymore though. There is nothing about this company that vaguely incentivizes me to go above and beyond. If anything it punishes you for even having the thought.

Into the fu--ing ground, I’m sure.

Some, well, tbh most of the non-TOS green tech needed to be shut down because it was designed and built by yahoos. But other tech was definitely s**t hot and had legs.

@1tyd+1ph6Dftf

but we managed to pull in some really great green technology and staff to run it.

Into the fu--ing ground, I’m sure.

From an area that has had a Green takeover of friends bringing over friends

This very nearly happened to my area. But thankfully I led a counterattack and was able to win the argument with senior leadership. Blue thinking remains the order of the day in my area but we managed to pull in some really great green technology and staff to run it.

This is the entire reason I have been hoping for months that every workday is the day they set me free.

Just quit, and move on. Because if you don't get laid off, then what? By quitting you'll be happier and you could save someone else's job who got laid off, but didn't want to be like you did.

@gvc+1ph6Dftf

Different business model. Different regulatory environment. Different set of rules to follow.<

From an area that has had a Green takeover of friends bringing over friends, there are group-think pockets of 'maladaptive to the Schwab environment.' It has several newer people of authority playing fast, loose, and trusting the wrong voices in the room.

Whole cross-functional teams are making messes that their friends have to defend as they cleanup, since they brought the crew over.

I've seen Green PLs functionally replace experts with their objectively less qualified TD buds. I've seen a few very strong Blue people be asked to stop asking questions and raising real risks about the work.

This is the entire reason I have been hoping for months that every workday is the day they set me free.

Should layoff all non-essential Green folks except for the worker bees. As others don't know the Schwab Blue culture along with that should layoff 50% ~ 60% of all Blue people leaders as they don't do much either.

It takes me more time to explain to the leaders and convince them than actually doing the work.

the legacy green folks, who have this really weird and irrational hatred of Schwab.

Seconded. Surviving and thriving at Schwab requires a different mindset. Schwab isn't any better, or worse, than what TDA was. It's just different. Different business model. Different regulatory environment. Different set of rules to follow. If you can't make the leap then Schwab is going to be a frustrating place in the long run and you might be better off to find something else.

Seems like the unhappiest and angriest employees should go on the chopping block first. Scanning through comments, that would seem to be the legacy green folks, who have this really weird and irrational hatred of Schwab. Not exactly sure why; this is, it's not a bad company compared to the rest of the corporate world.

@svs+1ph6Dftf someone will learn your job far more quickly than you think. You are not indispensable

@svs+1ph6Dftf Have you been approached for knowledge transfer? Usually that’s a big red flag.

As a green employee “closing out” green work, I have worried about this. My manager has reassured me that my chances of being laid off are slim, but let’s be honest… my manager doesn’t know sh-t about what’s going down.

I’m in one of the last “blue training” classes and it’d be pretty frustrating to have to go through all of that only to get axed the next week/month/whenever.

If I do get laid off, the process I specialize in will be completely screwed tho, so at least there’s solace in knowing that they’ll be scrambling to figure it all out.

Too many management layers in Schwab. I have seen many teams with even 5 or 6 people have a manager.

@vnz+1ph6Dftf LMAO BCG doesn't care about blue or green. All they see are $$$. The more you earn, the bigger the target.

@vnz+1ph6Dftf seen someone else post that he is going to announce his retirement by the end of the year if not Q1. that would definitely shake a lot of things up

The target to the street is a billion with half of that wages.

Real estate will be worth much more than 75 even in a down market and includes security, maintenance, custodial, furnishings, taxes and utilities.

Blue management always said green would get voted off the island first. It was rude, but the tone was that blue was acquiring green. Will that be the case now? Doubt it. Blue is too fat. And it should be middle and upper management. Too many layers.

You aren’t minority. Many are begging to get a package. The next years will be challenging with little reward. If Walt leaves it will be worse.