Drawn-out layoffs are a sign of sadistic leadership. We hit a jackpot with both.
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These layoffs size and timing are due to failed leadership. They did widely reported synergy cuts back in 2020 and we now have more employees than we did before that. They completely failed to understand the scale of the integration and overestimated their abilities at every turn. They have to make significant cuts this year to appease shareholders. Honestly there are tons of people here that the company could do without. The issue is the most deserving layoffs are on the EC and they probably won't lay themselves off. I see a positive path forward if they lay off the right 10-25% but I have never once witnessed Schwab make the right choice. Usually it is the path of least resistance because the leaders here are incompetent cowards.
Ok
Lucky us.