Would it be from direct mgr, MD, etc? Would it be a meeting including others or just a 1 on 1? At my previous job we had a large group meeting with someone from HR who walked us through a power point. But I am guessing it is different here.
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@1crv+1nWOb5Ae
Don't cry, work on finding a better job. The job market isn't great right now but you will still be able to find something.
During mass layoffs usually not an email invite… back in 2001 and 2002 … they did them by centers .. manager had everyone sign out and stand behind chair and those being laid off were sent to a conference room to meet with HR and get severance packages
Who knows with current WFH his it will work
My worst fear is I break out and cry on the call. Loose it altogether. Gotta think tough.
My manager IM'd me early on a Monday morning and asked if I had time to chat. He called me, no HR person was on with him. Read the script to me, told me it wasn't performance based (always had exceeds), and rambled about tough decisions for the company. I had time to mentally prepare for the call as I had survived the previous rounds of layoffs. I thought I would breakdown on the call, but was essentially numb. The emotional roller coaster hit soon after, but I have to say there are so many more better places out there for a career than what this company has become. It was truly a blessing in disguise for me. Stay strong my friends.
It would just be a giant middle finger in an invite from your MD. With a link to this YouTube video.
https://youtu.be/wg5lIpQkoOg
Fair enough. I don’t disagree with you.
I was a Director PL for several years but stepped back after I had a transplant.
Wishing you all the best.
I’m trying to think of a way of saying this that doesn’t sound like I’m being a di-k…if you’re at the same company for nearly 30 years and are only a 59 on around $200k, you’re exactly the kind of person they would look for in cuts. There is a point where you can be somewhere too long, and in a career you’re either growing or you’re stagnating. From the perspective of leadership, it’s not a case that you cut someone like that because they’re expensive, it’s that they’re just not going to go anywhere and have basically exhausted their potential.
I’ve been in the industry 20 years, I’ve seen lots of cuts, and very very rarely is it a surprise to learn who the people are who are cut. Everyone wants to believe that there are tons of people out there who are high performing stars who end up as collateral damage, and I’m sure in some places that’s true, but in general it’s the people who are not performing or it’s the people who are performing but have plateaued in what they can offer. When our cuts happen, I can guarantee that few of them will be surprising. It’ll be the MDs and Directors who are isolated and comfortable and haven’t managed their careers, and it’ll be the people who are basically being put out of their misery.
As you say, that’s why it’s important to move around. The company is a train, it’s just going to keep going. If I got cut tomorrow, it would make zero difference, the company will keep going. People need to realize that their career is their responsibility. If you’re in the same spot for a long time, it’s time to move on.
@iko+1nWOb5Ae
Wow, you really are one of the early originals, having been around since Pottruck. Thank you for sharing your experience here. It is much appreciated, and am sure is a comfort to many, including myself. And also for your words of comfort and encouragement.
@mxj+1nWOb5Ae
This would not only be hilarious but a lot closer to the truth than the usual platitudes!
Meeting from the Bobs
I’m @teu+1nWOb5Ae
I wanted to say that Schwab was my first and only job out of college. I thought I’d be there until I retired. I received all the awards, chairman’s several times , have met Chuck and his family members countless times, had dinner with him, Dave Pottruck, Walt etc.
I started out as a grade 52 (or 8 before they converted) with a salary of $18,000 working in a branch and so many jobs and cities over the years.
I loved Schwab (until I didn’t) but it’s not the same that it once was. My key point is life goes on as tough as this is to for each of you. If I had to do it all over again, I’d switched companies multiple times over the years as that is how you will get a high salary and promotions allot faster than staying at one firm (compression). Take risks.
I learned the hard way but have rebounded and you will too should you be impacted.
I got
The ones I’m hearing is an invite from MD. Zero context.
I received my invite a year ago.
Grade 59 PL with 29 years of service high salary ($213k) consistently an Exceeds or Far Exceeds with intermittent Key Contrib.
Invite came from MD with no others on the call. Said she’d only found out the day before and had not participated in the selection.
It was a “Catch Up” email sent 30 minutes before the call.
If this happens to you, I’m sorry. There still are jobs out there both remote, hybrid and in office. You’ll bounce back as much as it hurts.
I’d just say try and get everything in order (financially, emotionally, resume, networking etc).
I ended up getting a job at a competitor with a promotion and $47k increase (after 3.5 months).
@qfx+1nWOb5Ae
That someone did not make an effort. That someone succeeded. Best post on this thread ever - helpful and informative.
If they are in fact being done in small scale waves, your manager will be informed and will schedule time with you and an extra rep (their manager or an Hr person).
If they are being done in larger waves, you’ll likely not speak to your manager and the meeting request will come from someone higher in your org.
Someone made an effort to describe the process here, hope it helps:
https://www.thelayoff.com/t/1nR3tLuy
Subject line will be middle finger emoji. Email body will simply read “get f-kt loser.”
This is how you see thru clients eyes.