What happened to the plan to start at the top? Can we really not trust ANYTHING this company says?
4 replies (most recent on top)
Schwab likes to say things that are technically true and sound okay, but require closer examination to understand the reality.
So for inverted pyramid, they are most likely referring to this as a percentage. So if you look at an org with 10 MDs, if 3 are let go, that's 30% at the higher level.
That same org might have 1000 individual contributors, so if 200 of those are laid off, that's a smaller percentage of 20%, hence inverted pyramid.
Schwab also likes to answer questions with things like "we don't anticipate any widespread layoffs in the next year". They could know full well that they are gutting a specific team in the next month, but since that's not "widespread" then they are technically telling the truth (just an example, obviously not currently the case).
Just another reason to not take EC members at their word. There is almost always more to it.
Started from the bottom now we here
It is an inverted pyramid.
The flipped it over and it’s sitting on the tip. Then they fired everyone at the bottom.
Rick/Walt/Whoever - played everyone.
Ricks stock was up 700k the day of the announcement.
Walt- like 3 m
Right - where is their inverted pyramid - they were never going to chop at the top - they maybe have done a couple but the majority will be the worker bees