In coffee line waiting for barista to take my order, overheard two people behind me talking quietly about organizational changes in Q1. Has anyone heard anything about this they can share? Will it be due to layoffs?
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With any luck they’ll get rid of many of the so called leaders who have carelessly laid off their great employees over the past few years and never experienced a layoff themselves. Hopefully they’ll be caught flat footed and will be as surprised as the loyal hard working employees they kicked to the curb were. They could start with the overpaid, stale, arrogant lifers in SF!
@dk Adding business units will see changes in Q2 separate from STS after tax season.
The 'unexpected' layoffs were expected. It was only Rickie's word choices and lying that made it seem as if it wasn't the continuous quarterly reduction in force. Four changes are expected in 2026, with two happening and two possible. Continued quarterly layoffs of approximately 300 employees and general restructuring will happen. If the economy drops, or AI were successful, we could expect a large layoff of over 1,000. People leaders have already prepared an action plan for this. However, considering Schwab’s lack of success with PAAS, IAAS, public cloud, and now AI, AI-driven changes are likely to be gradual. AI is more than turning on an Office 365 feature.
Pretty straight forward... Go write down the list of retirements planned and in motion and tack on a second list of those who are eligible and expected.
Second look at Ricks massive direct report list..
Third.... Ya no real choice there has to be some shuffling to fix all the past and future retirements.
AI is at the forefront after all the 'unexpected' layoffs a few months ago. All were shocked as was I. AI will take over most back office roles before Q426. You heard it here first. Cheaper than H1B and more secure forward looking. It's getting more advanced daily with no WFH drama.