Don't give them what they want. We lost a great team member last week because he was so tired of it all. I think he made a huge mistake. He's good enough to find a new job whenever he wants and if he had waited a bit longer, he could have walked away with severance. Schwab won and it's pi----g me off.
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Layoffs going on right now
@1fcb+1pej1mTt
Some of us will get severance in the $220K+ range. For that I will work as many days as needed to get a chance at that package. Glad you you're well off and can walk away from that kind of money.
There is no amount of severance that would make working at this dogshit company another day worth it. Speaking for myself. They’re going to inevitably squander any money you save them regardless.
There’s no guarantee he would’ve been laid off/gotten severance anyways. I quit 2 months ago knowing I was maybe leaving money on the table…. But it was the best decision I ever made. Having the Schwab stress off my back has been worth every “lost dollar”.
: @iac+1pej1mTt
Depends on your grade. Most folks I work with, including myself, make 6 figures, and above $200K base range. Obviously grade 54 doesn't have this salary. Pick 10 of these folks and that's $2M savings off the bat, not even including counting bonus and benefits.
In response to @wuo+1pej1mTt: "If he is as good as you say then it was unlikely he was even on the layoff list." I disagree. I've seen folks laid off and been laid off myself when by all objective measures (most recent quarterly performance eval, etc.) I was performing at a better than expected level. I stayed at Schwab long enough after the TD acquisition to know that they consider folks more or less fungible. No one is indispensible, but layoff decisions can factor in many things not directly related to performance (and not all of them illegal or even unfair, but still not performance related. E.g. The guy was a great Oracle DBA, too bad we're moving off Oracle. She's been with the company long enough that her salary has outpaced the market...). The good news is it seems 95% of you who chose to stay will get to; the bad news is if you think you're immune to ending up with the other 5%, you're probably fooling yourself. Sorry.
Good employees does not always mean expensive employee. Many of us are not compensated fairly and certainly not the numbers I’m seeing in these posts. Most of us aren’t making anywhere near 6 figures. We are a drop in the bucket salary wise
@wuo+1pej1mTt Don’t assume good employees are safe. Good employees = expensive employees.
Bringing in BCG is a pretty clear indicator this isn’t a move to trim the fat and drop low performers. There wasn’t the traditional “rack and stack” for leaders and it was very much out of everyone’s hands. This is purely a cost cutting measure. And we are all on the block
Too late.....I already did!
Yea I get that he might have left money on the table, but if they’re a good employee Schwab didn’t win. They’re gonna lose.
Because they think that that good employees will stay BECAUSE they’re good. When in reality those are the smart ones who look for better options to get out and go somewhere their skills are actually appreciated, utilized and fairly compensated for. Come February a lot of leaders are gonna look around at the employees who are left and wonder “why is nothing getting done?”
How do you know he would have been one to get laid off? There’s no guarantee he would have been impacted.
He’s probably feeling a sense of relief.
If he is as good as you say then it was unlikely he was even on the layoff list. He didn’t make a mistake, he made the best decision for his life. I commend him for moving on from the mess that is Schwab.
Each makes their own decisions. If you feel better consider the fact that the company lost their skills unexpectedly and they’d likely not be part of the 3-5% let go.
He made the best move for his career. Recession will hit in 2024 as most corporations are cutting budgets. Hiring will freeze in most companies starting Jan 2024. If you wait for severance, you will also be waiting on the unemployment line come 2024.