Anyone else here working the phones? I see some senior roles/software side folks posting, wanted to know if there were others on the phone reading these. How are you feeling/preparing for everything happening? I don't think they would start cutting our roles until after they get through moving accounts over, but then again a lot of the decision making has not made sense. What I've seen so far is not encouraging for job security or at the very least does not inspire confidence.
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I don’t think phone reps are the target of layoffs (possibly managers). It’s cost cutting and these are generally the lowest paid @ schwab so unlikely to move the needle, right?
They are however the group who is most likely to quit on their own as attrition is historically high for phone reps and RTO will mean a lot of people have to start commuting. These are the people most likely to look for alternative remote work at a similar pay.
tldr: not the target of layoffs but will probably see RTO attrition.
We need more phone reps like we need more SMs (scrum masters) in tech. Useless.
@1ljn+1o83uEM2 -- We are receiving training. There are some associates who are already blue and have been for some time, but the vastest number are still receiving basic training. It is going to be an absolute nightmare CD1, Schwab absolutely needs to postpone Green participation for at least another week of purely training-based participation, very few of us will be ready at that time and it's going to cause a ridiculously high level of attrition and clogging of the phones as reps reach out to more tenured associates for basic answers on something as obscenely simple as authentication.
Are green phone folks not already on blue Schwab system?
I say hi this ______ from ____ all day long. I'm speculating we won't be hit hard. Minimal cuts here and there for phone jockeys. Thinking the cuts will start for all the 3rd week of September and be done by Wednesday of the next week. Most will be done in a couple of days and then the last few laid off will actually be the folks that are delivering the bad news to the first group. Inverted pyramid part will be some of the last to go after they dole out the bad news to others. I took a call earlier today from a brand new Schwabbie today that was in training so they are and will continue to hire for the phones. Being on the phones is not easy and there will always be attrition and folks that have difficulty with the industry exams. Not too worried. Worst thing that will happen is I get a 4 month plus
paid vacation.
Just to add on that last point. The firm is looking to save/cut $500M. The reason why you see so many senior level tech staff posting here is because they are the ones where they will get most bang for the buck in cuts. Senior directors (both PLs and ICs) could make up to and over $300K in total compensation; i.e. think base salary of $200K up to $250K plus bonus and other benefits. So they rightly are the ones to be more worried.
Despite all of the deserved negativity on this site, I'll just say our service reps are some of the few roles that nobody expects to be reduced. Across my nearly 20 years, those are the teams that have maintained even in times of significant layoffs and with CD1 occurring still, I strongly doubt that changes. Keep a positive outlook and understand that with time that uncertainty will pass.
I'm a rep on the Green side in Core. My attitude is whatever happens happens, might as well just spend the time learning the new material and getting licensed. I will say I dread working with the Schwab systems, most don't seem intuitive at all and the first few weeks are going to have lots of growing pains with inevitable mistakes.