Thread regarding Charles Schwab Corp. layoffs

RTO is happening in Jan. My Manager is a typical Micro Manager. We get 1K in RSU vests in 18 months. I am interviewing for jobs. Good Luck Y'ALL

RTO in Jan I am required to go into the office and join calls on Teams. I am the only one in my team going in. I am working for 2 teams same pay. My Manager cold calls me during the weekends and micro-manages me. She even picked my seat and just sent me a message on teams. All employees are getting 1K in RSU which will vest in 18 Months which I don't really care about. I have no interest in driving 25 miles one way. Also the work is not great. Contractors are leaving because all the contracts are on hold. Not sure what will happen next year. I have 2 young kids and feel very stressed. I am starting to interview for other jobs... Good Luck Y'all

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| 2822 views | | 13 replies (last November 11, 2023) | Reply
Post ID: @OP+1puYen0f

13 replies (most recent on top)

It’s not loke we are getting a G note. This is like a promise of a G note. Well not even a pro ise. Its like an option to have a G note should I rise.

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Post ID: @3kpj+1puYen0f

Difficult to get excited about a measley stock option that would even mature before the next couple of layoffs.

This firm is a dumpster fire

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Post ID: @atz+1puYen0f

I am surprised you all have so little knowledge abput how stock options work. Stock options is one pf the things you always negotiate for when you are hired. I negotiated a large award as part of my hiring package. This was a long time ago when the stock was low, but I held for a long time, and after big griwtu and splits, I exercised. Well worth it. If you are seeking a new job make sure ypu negotiate on stock options.

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Post ID: @xbi+1puYen0f

I don't think you need to take her cold calls on the weekend - don't answer - you need time to yourself. Don't worry about the fake gift they are giving - it is nothing of too much value just a fake gesture

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Post ID: @yep+1puYen0f

@xse+1puYen0f that was how I understood them. They’re not a gift of $1000 - they’re only a “gift” if the stock price is higher than it was when granted and you exercise the option with your own money.

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Post ID: @toi+1puYen0f

Well if the stock price is $55 when they issue the options to all the employees then everyone would have about 18 option shares. If the stock ever hit $100 per share then the options would net about $800 before taxes. I'd take the money but it's not anything that's going to make anyone stick around if something better came along.

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Post ID: @xse+1puYen0f

@xoq+1puYen0f

Stock options are much better. Walt said if the stock price goes up to $100 that $1000 will be worth $2500. :-P

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Post ID: @uux+1puYen0f

Will the laid off employees get the 1000$ stock options?

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Post ID: @azb+1puYen0f

They’re not RSU, but a $1000 stock option grant. I don’t really understand them, but it seems like a lot less of a gift than $1000 in RSU.

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Post ID: @xoq+1puYen0f

Don’t forget the spectacular grow your career at Schwab program! FML

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Post ID: @ipp+1puYen0f
https://money.cnn.com/quote/forecast/forecast.html?symb=SCHW
Looks like analysts are pretty optimistic about the future.

Right. Let's see. The stock is down $10 since August and underperforming SP500.

Optimistic? Yeah, they are.

And insider selling beats buying 5/94 YTD.

We aren't poised for a major breakout up. Why would we be? Or maybe we can buy TD Ameritrade. Wait. What?

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Post ID: @wgp+1puYen0f

https://money.cnn.com/quote/forecast/forecast.html?symb=SCHW

Looks like analysts are pretty optimistic about the future.

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Post ID: @bna+1puYen0f

Gotta boost that commercial real estate!

I hear you. RTO when teams are spread across cities with prescribed days and frequency is a sign of disrespect and poor leadership. They want people to quit so they don’t get a package.

So, what to do? Go in. Don’t answer on weekends if you aren’t on call. Maybe work a little less in the office as that’s likely to happen with all the drive by interruptions anyway.

And stock? Lol. Look at yesterday’s journal to see what the stock is going to do in 18 months.

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Post ID: @ohr+1puYen0f

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