CEO, CIO, CTO, CXOs mistake and little guys pay for it. Who is responsible for financial missteps. Don't they deserve to go first and publicly shamed for decisions?
Leadership mistakes, financial mismanagement and Govt shutdowns and little guys pay.
Leadership mistakes and soldiers lose their lives.
I am one of the people losing my job tomorrow because of your mistakes!
Do I lose my pay during my notice period and the severance package thereafter if I accept a job elsewhere outside of Schwab?
Rest assured, the inverse pyramid of layoffs does NOT included Executive Committee members. Tomorrow a bunch of MDs and Directors will be axed but not one EVP-level officer will lose their job for mismanaging the company.
@yni+1pkcVGfn you skipped C3PO
Walt's Co-Chairman soon to be Chairman. Sorry, but he ain't going nowhere.
He fumbled that bag holmes
Walt retire by April 2024. He was already thinking about it earlier this year - but guess they wanted him to hold the RTO/LAYOFF bag
@wyp+1pkcVGfn Uhhhh….. you don't pay folks upwards of $10M - 24M/year to "make some mistakes." Well, I guess Schwab does…. But AGAIN, everyone knew there would be layoffs due to the merger - that is a given. But this layoff is not just due to merger. It's due to the inability for management to plan long-term. And in this case as well, the financial health of the company was seriously damaged due to the bond fiasco for which no one was held to account except the employees being impacted by the layoffs. Because of course from Walt & Rick's mouths if they didn't have these pesky expenses and if the fed would lower the interest rate, they wouldn't be in this mess ….. ughhh.
CXO, X stands for anything C-Suite. Just insert your letter, C"F"O, C"E"O, C"I"O.
Easy bet: Walt retires late 2024, within 3 months you will read that he has been named to 2 - 3 other corp board positions, then he will take an 8 figure position as …something.
And in his wake: THOUSANDS of fired employees….
What is his body count since 2019?
Who is the CXO of Schwab?
"There's an old saying in Tennessee—I know it's in Texas, probably in Tennessee—that says, 'Fool me once, shame on...shame on you. Fool me—you can't get fooled again.'"
@bot+1pkcVGfn Powell is really incompetent, but for someone of Walt’s caliber to hang on the interest rate tree twice is ridiculous. It is as the old saying goes, fool me once, shame on you. Fool me twice, shame on me.
But but but Walt said it was the Feds fault….twice
They did make some mistakes, but there were going to be mass layoffs regardless now that the majority the integration work is done. Also with the whole market becoming less profitable and interest rates rising, it's an unavoidable fact that cash sorting would harm Schwab's revenue - and it doesn't look like the market situation is going to improve any time soon.
What you are describing, sir or madam, is a meritocracy. We do not live in one. I think 2008 already made that abundantly clear.