Thread regarding Charles Schwab Corp. layoffs

I'm starting to think there'll be no layoffs

Not because they suddenly decided that we are an invaluable asset that should be treated as such, but because they've dragged this long enough that maybe enough people quit negating the need for cuts. They created a horrible and unhealthy work atmosphere that pushed people out and saved them from having to lose money on severance. I know three people who found new jobs and left just in October. I'm betting everybody here knows somebody as well.

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| 1292 views | | 4 replies (last October 26, 2023) | Reply
Post ID: @OP+1pgCWSuJ

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We’ve been told that layoffs have been pushed back so that they would qualify for the annual bonus. My guess is early to mid November so the 60 day notice rolls to 2024 which would make them still technically employed and get the bonus.

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Post ID: @1xxj+1pgCWSuJ

Not really. Even we’ve lost around 1000 FTES since the July announcement the vast majority of them were lower level workers who get paid very little money. Number for managers/directors have hardly judged. Most are waiting for severance.

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Post ID: @dop+1pgCWSuJ

they need a lot more than the usually amount of turnover... only about 1000 people have left since june. that well below the $500 mil they said they needed to cut.

i get this is a speculation sit, but this is just a flat out wrong speculation

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Post ID: @stg+1pgCWSuJ

The company would still work to eliminate redundant positions, no matter how many proactively quit. It’s a money thing, not a culture thing. I think they’ve shown over and over that they aren’t concerned with the culture that the layoff announcement made.

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Post ID: @jty+1pgCWSuJ

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