Thread regarding Charles Schwab Corp. layoffs

@2czh+1nqLn2Dw

I agree 100%. Between this garbage at work and the garbage in our national discourse, all of my motivation is gone. I regret my decision to come to Schwab. I was hired FT Telecommute and live far from an office. I refuse to worry about my job stability every 6 months on a whim by the EC. Sadly, I will be gone as soon as I can manage it. #timesupboomers

"Are these folks, making multiples of what most of us earn, not able to realize how us common folks would be reacting?"

Yes.

EC members make at the lowest $3M and highest (Walt) at $25M in total compensation per public info. The EC is also comprised of about 80% of the same demographic (white men over the age of 50). I do not know the marital status of these members, but would wager a guess that most did not have to worry about any domestic duties/responsibilities during their career (or currently). Oh, yeah, but Walt did get the ability to work flexible in-office hours when his children were young and he was single. Guess that slipped his mind when it is constantly stated that one cannot advance in their career if they are not in the office every day. The EC needs to be more diverse period.

For those who are likely white male people leaders that respond "stop whining it's happening all across the industry" - the reason for that is Schwab mirrors the demographics of the "industry". There is absolutely no reason outside of laziness/ego of leaders that a company cannot provide flexibility due to commute distance, caregiving responsibilities, personal physical limitations and/or other physical/mental health needs without threatening career advancement. Not everyone is "energized" by going into the office every day. It's 2023, not 1983 - and every time a leader states "I don't see what the big deal is" - I lose respect for them as a leader as this just reeks of Boomer mentality. As others on this board have stated, if they want employees to look through clients' eyes, EC needs to look through the employees' eyes when making policies that directly affect them.

I am Gen X, not Gen Z, but maybe if we started to listen to Gen Z and realize they have some very valid and strong points we'd all be better off. Just saying "that's how it is" or "that's how it's always been" "if you don't like it leave" "su-k it up bu-tercup" - you all sound like my grandfather ... seriously.

I am absolutely infuriated by the managers below EC level who decided to not allow any exceptions because it was "too much work" or they "didn't want the hassle." That is not being a leader and I hope their directs remind them of that.

The messaging and mechanics of the "new policy" plus the closing/downsizing could have been crafted and messaged so much better and still achieve what they wanted. Sadly, it will likely be a long time before the company ever hits a "best workplace" ranking again.

Those in closing locations are going to be asked to relocate or get the axe. They're temporarily approved to be remote.

The writing is on the wall.

WALT LIED. Over and over. I've lost all trust in that man.

I find these back to back decisions completely lacking critical thought.
The biggest impact is St Louis right? A few weeks ago St Louis folks were called back into the office in October. Probably a source of stress for some, planning, and making arrangements for others.
Are these folks, making multiples of what most of us earn, not able to realize how us common folks would be reacting? While I understand honest debate to come to a conclusion, that debate should have already occurred in making these decisions.
Yeah, I'm surprised whoever was in charge of the decisions regarding the balance sheet, and over leveraging on mortgage bonds hasn't lost their job.
Hysterical for geographically diverse orgs now have members who have to go in on the mandated 3 days a week, with others WFH....

Poor Mr. Schwab and family - He built such a great name and reputation based on trust and being different, more down to earth, than any other big wall street firm. But as we know, trust is lost in an instant. Now all trust is gone. It's "us vs. them" and we can't trust them. Not a good move to make when you are depending on your 30,000 employees to ensure your integration execution is flawless. The EC should all be fired for making such a monumental announcement right before integration is finished. If their judgment on timing is this poor, they should not be running this place. Do they really think this is going to happen flawlessly now????? Now employees don't care. We don't even care if we get fired. Mr. Schwab should take a stand that this is not what his company is all about. He should remind Walt that he was sympathetic to him when Walt went crying that he needed to be there at the school bus when his kids got home after his divorce. He should remind Walt that the "rules for thee, but not for me" is not good for a company "built on trust".