Thread regarding Charles Schwab Corp. layoffs

Everything I know

For the vast majority, if you’re being laid off you’ll be told on Monday morning. If your direct leader is not being impacted but also wasn’t part of the NDA group, they’ll receive confirmation of who they’re to lay off (“the list”) today and will be the one to tell you. Most leaders are already pretty certain of who it will be but the list being sent today will confirm that. Everyone is anxious over the potential for that list to contain some curve ba--s. If your leader is also getting laid off, it’ll be your two up or a peer of your boss who will inform you because no one being laid off will be tasked with first laying someone else off.

Last week, MDs had a big meeting about all this. On Wednesday (2 days ago), all people leaders not being laid off but having to lay someone else off had the meeting to receive training on how it all needs to happen. Monday will run on a tight timeline with a prescribed order of operations. HR has deadlines for each time zone on when employees need to be told by and then right after, meetings will be held with those people’s directs to inform them that their leader was laid off.

For everyone still employed when this is all over, reorgs galore await.

Sending strength and good fortune to all.

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| 14036 views | | 56 replies (last October 28, 2023) | Reply
Post ID: @OP+1piARyso

56 replies (most recent on top)

I already had requested off on Monday. Hope I don’t get called to log in! My director was in the private meeting :0
Did anyone else take off on Monday?

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Post ID: @zus+1piARyso

@rds+1piARyso That would be the most logical. And I keep hearing about these meetings that happened on Wednesday at 11 CT, but none of the PLs in my org had this on their calendar, and I doubt they would all be laid off since we're on the money making end. But fingers are crossed it happens Mon/Tues.

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Post ID: @sqo+1piARyso

Your task for this weekend: go out and buy your beverage of choice so you can enjoy it during your meeting. Use a coffee mug or otherwise unremarkable container so they’re none the wiser. Then….a fresh start. A new opportunity. A new door to walk through. Everyone I know that has been laid off always ended up in a better place. Yes it will be scary; but have the right mindset and it will be the first day of the rest of your life. Cut the whining and bi--hing about the company. Stop feeling sorry for yourself. Make the choice to control what you can control and not worry about what you can’t. BETTER TIMES AHEAD MTHERFCKERS! YESSSSSS!

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Post ID: @vje+1piARyso

If manager will know today, please add meeting invite on my calendar, or I will be wondering all weekend

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Post ID: @xov+1piARyso

Imagine if, and stay with me here, imagine if this kind of straight forward communication could happen INSIDE the company. The comms culture here is straight bootyhole.

Wow what a game changer that would be! It's not difficult! EC I'm pointing at you!

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Post ID: @gzx+1piARyso

Haha tears of joy hilarious

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Post ID: @gzk+1piARyso

@mdl+1piARyso
There is a witness, other than your direct PL, or one up PL, delivering the notification. The witness could be HR, or could be another lateral PL.

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Post ID: @kib+1piARyso

@mdl+1piARyso HR or another manager. Usually a witness is required.

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Post ID: @uqz+1piARyso

@dsk+1piARyso
I will keep my camera off, though you will feel pressured to turn it on because your PL and "witness" will have it on. However, I don't want them to see the tears in my eyes... of joy. While I am doing the woohoo and handcarts in the background.

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Post ID: @kop+1piARyso

Will HR person be in the meetibg?

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Post ID: @mdl+1piARyso

So take Monday off.

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Post ID: @bqm+1piARyso

are people going to keep their cameras off during the call? i think i will

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Post ID: @dsk+1piARyso

Wishing everyone much strength and dignity

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Post ID: @dpc+1piARyso

What time of day today roughly do leaders typically get their lists of who is going?

I’d love to know the % breakdown of “layoffs” Vs “your boss has changed” vs “your role has changed”

To be honest I want a proper layoff not some weird demotion or job change intended to demoralize and/or get me to quit on my own.

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Post ID: @ozu+1piARyso

The designated messenger will make all reasonable attempts to contact them on Monday morning even if they’re on PTO.

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Post ID: @usf+1piARyso

Just wondering, what would happen for folks on PTO? Would they just find out after they return? Or would the designated messenger PLs attempt to reach out and connect? Just curious about how that would work.

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Post ID: @hgv+1piARyso

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