There will be more layoffs Q1 2024. This is not the end
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Come on people. Citing RIABIZ as a source is like citing the trashiest and most gossipy person you know as a primary source. They aren't taken seriously and have a history of starting touble with Schwab.
Maybe we will have layoffs in Q1, but I won't be believing it or the at the size cited in RIABIZ because of what they cite as "sources" which is probably something some rando posted on here.
@tym+1pmjoQqm That stupid RIA site takes quotes from this site and reposts on there.
Schwab again declines to say which staffers will get pink slips by Christmas to save $500-million in 2024 expenses, and the math remains sketchy - This link is from earlier in the month when leadership didn't give definitive data from an all hands for this round of layoffs.
A giant second round of cuts could come January or February, according to social media chatter. The source said as many as 4,000 to 7,000 staff could be cut when all is said and done. See: Schwab again declines to say which staffers will get pink slips by Christmas to save $500-million in 2024 expenses, and the math remains sketchy
SOURCE:
https://riabiz.com/a/2023/10/30/with-the-swiftness-of-a-lightning-strike-charles-schwab-corp-fires-as-many-as-2000-employees-with-no-public-announcement-affecting-legacy-schwab-as-well-as-td-ameritrade-staffers
I've been consistently hearing no more layoffs.
When did they say there would be another round? Was it today? I was laid off this morning so maybe I missed the announcements?
Next round around Jan 30 2024. Same as the first month end of the quarter like this one.
Also any idea when the next layoffs are? most people that are still here are miserable and depressed. I can’t believe that we are going to have to go through another 4 months of he!l waiting for the next round!
I imagine more, based on Walt and the EC’s last quarterly call. Hopefully, they keep the generous severance package for people in later rounds. Sad times