Thread regarding Charles Schwab Corp. layoffs

Just don't give notice and pretend to work at schwab until RTO or just quit on the spot.

@5vnd+1q4xRFEY I saw that as well and have considered it. They would also then have to pay me out the additional vacation time we get on Feb 1st.

I would wait until Feb 1 to resign so that you have health benefits the whole month. If you leave mid-Jan your health insurance ends Jan 31st. Just something to consider.

@4ubn+1q4xRFEY I read the policy and it states they are paid the first full paycheck in January. So that would be the 19th. I also reconciled that with what pay period they were included in for 2023 and it checks.

I thought HSA/401k contributions were paid on 01/05, where did the 01/19 date come from ?

You owe them nothing. Don’t gamble with your benefits by being considerate. Wait until the 19th and get what you’re owed.

Schwab will walk you out with no notice, so why give them notice in return? Work until you get your payout, put together whatever knowledge transfer you need for your team ahead of time, and then submit your resignation on the 19th/20th.

If you give notice before it gets paid out, they will not pay it out.

I have seen a few cases of firing people on spot when they announced that they’re leaving. Usually due to security (so that you don’t take info with you) or egos. Not for cost reasons. While not common there’s a chance this happens.

If it’s important for you, do what works for you. Most companies I worked on didn’t care about me giving notice. I usually transitioned the work in 2-3 days and hung out for the rest of the notice period. Don’t think bosses care too much about 2 weeks notice.

What I’ve seen, if you give notice, they’ll pay you til that day regardless of whether they allow you to keep actually working. Which should make you eligible for anything a regular FTE is. The only times I’ve heard of them not allowing someone to work until their last day, is when they deal with sensitive info, or are going to another financial institution. But it will depend on your job. I knew someone in IT who went to another bank but was allowed to work until their last day. Someone else who worked with clients was going to another firm, was walked out right away.

I’ve seen them ask people to leave on resignation day and not finish out the 2 weeks. 2 weeks notice is a courtesy but not a requirement (also noted on the Schweb), I would resign without notice on the 19th after benefits have been paid if it was me.

I would give notice the week of 1/8 and state that your last day will be 1/19. They could walk you out the door but they would probably pay you through your last day. I might only give a weeks notice

I can't imagine them doing anything unless you are an MD or you have access to sensitive systems.

OP here - maybe I wasn't clear...I'm not trying to "make money" or be shady with my transition. My new employer knows my start date is Jan 22nd. BECAUSE I want my 2023 benefit payouts that hit the 19th.

I'm simply curious if schwab is the type of place that will effectively terminate me as soon as I give notice to avoid having to pay me those benefits. Because they obviously know their own policy states you must be employed the day its paid in order to get it. And we all know schwab is trying to reduce expenses wherever possible.

@woi+1q4xRFEY I did, of course. They are well aware of my planned start date and have no issues with it.

You should have advised your new job that Jan 19th was the earliest you can start

@vfi+1q4xRFEY That's what you got out of that? LOL
I just want want the benefits I'm ENTITLED to by working the whole year, and the company's POLICY is that you have to be employed the day it's paid in order to get it. Their policy, not mine.

You want to make money Fing your ex-company over and want advice? I would have you walked out immediately. You have no tribal knowledge and have nothing coming to you. Bye Felicia.