Checked with claude, they may save $600 M per year ongoing basis if they get rid of 10 percent people.
They are paying double for Mainframe and Cloud. Also schwab is much leaner at just 35k employees.
They may want to hire talented developers who recently laid off from Amazon or Meta.
More money for the Johnsons and their ilk. Book comes out this week on the back biting.
@d5
We are replacing mainframe with cloud apps. You have to reduce costs also or else it would cost way more. I know they hired people from aws already.
I don't think it is simple crud anymore.
We don’t pay well enough to hire Amazon or Meta employees, not that we would want too. You act like we are building rocket ships when half the devs are working on CRUD apps. Development is a cost center not a money maker, reducing it is the way to make more money, and that’s all they care about.
well schwab pays their employees much more
@OP there's more to this company than developers and they could absolutely still run this business well, and probably better, if they cut 30%. I never want anyone to lose their job but this company is filled with dead weight now - people who still don't know how to do their jobs after years in a role while the rest of us pick up the slack. Don't get me started on mid level management that can't make decisions or move work forward. It's really sad, actually.
My group would be fine if we lost 10% of the team, especially in the summer months
Things would crumble with how understaffed many roles are already.