When you get laid off you are told you can reapply in the future. This helps the company save money because you don’t have to be re-trained or forge new relationships.
Apparently Meta and other tech companies are having problems because not enough people who were laid off are “boomeranging” to come back.
If only there was a good solution here …. I just can’t put my tongue on it …
Who here plans to boomerang?!
Hells to the no to the no no no. 🎶🎶🎶
Sc-mbag executives = a sc-mbag company. No schoomerang. Pound sand.
There's obviously no right or wrong answer as the decision to boomerang is based on each individual's personal situation, and it's assumed you'd make a rational choice depending on the circumstances at the time. If you are considering an offer to boomerang, be aware that the sabbatical clock "resets" to zero with any break in service. So if you were there four years prior to getting laid off, and had just one year to go to earn your sabbatical, and come back after being gone for (say) four months, then you'll have another five years before you are eligible for sabbatical - at least that's the default policy.
I would if I had no other options. Getting severance and a continued paycheck are worth more to me right now. Financially, I am not in a place to ignore the income. I’m relatively early career (less than 5 years out of college). I worked hard in college to get a decent job. It’s not the highest paid in existence, but it’s helping me build security and slowly get to the life I want.
Now, if I got another opportunity that paid close to or more than I make at Schwab, I would not come back. The past few months have shown me to take care of me.
I have been at Schwab for some time, and have worked at various companies through my career. Schwab certainly doesn't pay as high as FANNG, or other tech companies out there. These other companies you can be making $320K+ easily, and much more depending on stock options with your negotiated package. At Schwab you're probably stuck between the $210 - $240K a year tops with base salary. Bonus isn't stable, and usually isn't significantly beyond your target, even with good performance review. However, what you get in return is much better work life balance, UNLESS you work in operations or a technical support role, and are then oncall rotationally; or are really senior and will get things escalated to you. However, if you are a tech lead, architect, PL manager (up to Director), it's generally pretty well balanced. You get times when you are working overtime, late hours, weekends, to get things delivered under pressure, but it isn't a constant. I have worked at many companies, and can tell you generally, Schwab has great work life balance. You may not always get along with your manager, your may not always agree with senior management direction, but overall its a pretty great place to work. You do tech, without being in tech like company - which means crazy and long hours. I don't know about you guys, but remember when the Covid pandemic hit. We started lock downs. We didn't have a good understanding of the disease. There was no vaccine (and don't make this political, this is not what this thread is about). Many folks were pretty scared at that time. But Schwab gave us employment, and on a dime, swtiched to remote work for everyone. And gave this option for a little over three years now. Personally, I am grateful for this. I think sometimes we let our emotions get the best of us, and get frustrated. But just keep the big picture in mind, because you will find Schwab is a great work place.
Let's face it, Schwab drastically underpays but has been able to due to the culture and work life balance. People quickly learn money isn't everything when you work a 996 for 25% more or even 50% more.
Problem is that culture just changes. 40 years of culture building has been lost in a minute. The standard, trust is built in a lifetime and lost in a minute as chuck has stated. Now it's happened to his company.
@oil+1pdw71ct Go look at the posts from those other companies. You’ll quickly learn that Schwab is better than all of them.
I dont see Schwab as a sc-m bag company or anything like people comment. Do I like the work I do or feel my management is great. Not completely , but still there are many things which made me feel like Schwab is not bad. Its just bad leadership in certain places. And on the layoffs , yep they announced too early making it a stretch . But that also gives heads up for many who might want to take time to plan . At the end layoffs no matter how its done su-ks for the affected.
He-l yes! Id take the Schwoomerang - I might be in the minority on this thread. But Schwab has treated me well, extremely well. If they want to give me a severance and then hire me back, I'll take the 6 month paid vacation.
Honestly, what happened in your career here that made you hate the layoff game so much. All I can say is dont go to any FAANG or a company that has a PIP culture - you definitely won't be able to handle the consistent heat every year, no matter the salary.
For the person who calls this abuse, get a thicker skin. Sounds like you were coddled and never really went through any sort of uncertainty; abuse is a strong word. This environment is not abuse, feel free to leave anytime.
I will not schwoomerang. They can kiss my a**. It’s like going back to an abuser, no thanks! Lots of financial orgs out there.
depends on your view and ego and pride, at the end of the day, jobs are just jobs, theres no pensions or loyalty any more. so if the price is right? why not? if you find a diff job and you're making more? why come back? but if you're making less? then why not consider it?
Absolutely not. They could offer me triple my current salary and I’d never come back. Once a sc-mbag company, always a sc-mbag company.
You mean schoomerang?
Personal opinion is it’s sh---y to work for a company who laid you off before. Takes some swallowing of ego and pride knowing they caused a lot of angst.