Obviously things have been bad for a while, but I'm pretty down now that it's all said and done for me. 8 years with Schwab, been in a directors role for the last 3, got 4 months of pay + 60 days notice, assistance finding a new job and no stock options, that was it.
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Boy was this thread buried. Best to those that received the difficult news. Relationships that long can be hard to process, take care of you and please don't make any rash decisions.
@6uts+1oeIPp0K just to correct your math, it is 22 days /month, if OP got 4 months....
@6hzo+1oeIPp0K see previous threads, they updated very quickly with the layoffs in July.
@6frz+1oeIPp0K These things take time to update. Numbers didn’t budge till around two weeks later in 2019.
Org chart still hasn't budged. There were no layoffs last week
So, those saying it is fake, you are wrong. 110 days of severance is almost 4 months. People were laid off. Stop being trolls.
Hope OP derived some pleasure putting this fake post. At least OP should have got the severance package right in the post. Good luck to OP if you really end up loosing your job.
This is fake. Org chart numbers have not changed. There will be no "trickle" of layoffs. You'll know when it's happening without having to come here.
This was a fake post. No one was layed off today. Nice try.
Sorry to hear your news OP. I hope you can take some time to decompress and reflect before jumping into the job search. Best of luck to you.
What area were you in?
What does the assistance in finding a new job look like?
does severance include notice period too or is 60 days plus severance
What department was this in?
OP, if you’re a Director at level 60, I think you get 5 months severance on top of the 60 days pay. If you still have access, go to Schweb and search “severance”. Level 60 gets minimum 110 business days of severance which is around 5 months.
Take care of yourself the next 7 months and hope you’ll find something better soon
My peer was issued walking papers earlier today. 14 years with Schwab.
Very sorry to hear that. I guess they’d be doing trickle layoffs between now and September. Company is desperate for cash right now and just started raising 2.3 billion dollars in debt.
There is life outside of Schwab. You deserve better, OP
Can confirm heard of others getting their walking papers today. Sorry to hear about OP. Good luck.
Really sorry to hear that. Hope you get a better offer soon!
If you don’t mind asking, did you just get an email or some meeting invite?
Sorry friend. Hope you find something else soon.
:(
Sorry to hear that, good luck. May I ask what department you are in?