They let us wait and stress and worry for more than six months. That's how long it's been since we first learned about mass layoffs happening. What kind of people do that? And even now we can't return to normal since we know more cuts are coming at the start of next year. I hate this place.
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I was in the same boat, several years ago, working for a private firm. Add on being pregnant, and it was a long, horrible experience. It taught me a great lesson though. At the end of the day you are valued by money not by morals and ethics. If that were the case, many branch consultants would’ve lost their jobs years ago.
"I hate this place."
This is not the Soviet Union - get a better job someplace else.
"They let us wait and stress and worry for more than six months?" Victim language. If they announced layoffs and walked people out the same day wouldn't you be saying "Why didn't they give us advance notice!!??" That su-ks, it happened to me years ago and I learned to take responsibility.
Any anyone who reads any business news at all knows that after mergers come layoffs, so you've had three years.
During this time you basically had a choice: 1) hang around and see if you can get the payout or 2) ditch and get another, better job at a company whose stock is not tanking or 3) hang out assuming you might keep your job and accept the ever-present uncertainty that, frankly, exists in any job and in life in general.
Your language makes you sound like a passive victim. A victim can't do anything; that's not you.
So do what? How about:
Nobody who knows who will be laid off next would tell you because management wants you to keep working. It was probably level of position, closing offices in certain locations, and pay rate. And maybe desire to work from home.
So it is not knowable, but you don;t have to be a victim unless you enjoy being irresponsible - you are able to respond.
Look at job postings and see how competitive you are; look at required and preferred knowledge, skills, abilities and experience. How are your communication skills, both speaking and writing? Communication reflects one's ability to engage in critical thinking and problem-solving.
Are you a learner, flexible, adaptable? How about education? Training? Certifications?
How are the financials of the companies that are hiring? How are their employee reviews on Indeed? Are you willing to move for a better job?
Work on any gaps in your competitive hiring posture. Good jobs will get 100+ resumes. Will yours go to the top of the stack? Why or why not?
Fix any gaps now, it will serve you in your current job, make you more employable, and get you into a proactive, responsible position versus a victim mentality, free you from wringing your hands all day worrying about the next layoff.
Don't like waiting for the next round of layoffs (and by the way, each is always "the last")? Fire Schwab and get a better job at a company whose stock is going up, not down 35% YTD.
Get to work on yourself and make it happen!
When Walt announced the TDA acquisition someone asked him - in that same meeting - if there would be layoffs. He said "We expect some layoffs because obviously the goal of an acquisition is not to double your costs." Obviously. Three years ago.
@rfb+1pnnxorE He also addresses this in their little recorded meeting they emailed out today. He says that the planned layoffs announced in July are complete, and he says right now they aren't planning any more. BUT he leaves a big WIDE OPEN door of "but we don't know what will happen with the market in the future" and can't predict, blah, blah.
Feels like when they said the WFP was here to stay. There's more coming, it just won't be as large of a group. And he's trying to quell fears for now so we can all get back to work and stop worrying about what might be coming early 2024.
To all those apologists who would quote Walt into saying there is no more layoffs , there are many of those quotes where people used to talk how conservative Schwab was with deposits , about strategy of hybrid models etc . All changed . What was announced in July was lay off . What’s going to come in Q1 is performance related cuts . Anyone who continues to believe in the leadership will learn the hard way
I really am coming to dislike this company immensely. This place is soul-su-king in the extreme, it feels like a hamster wheel made to keep you running without making any real progress. I’ve worked worse jobs for sure, but it’s only because they paid less. I keep telling myself I’m blessed to have a job at all in this economy, but every day I get more and more stressed trying to meet impossible expectations for dwindling pay. I used to brag so much about working at this company. What happened to this place
@jka+1pnnxorE it is supported by fact. I was told there will be more layoffs in Q1 by a managing director. No one has to believe it. However, the merger is not complete yet. So there WILL still be more layoffs in 2024.
These are the types of things that happen in the best economy ever.
Clearly you didn’t hear Walt’s statement yesterday. He said that the layoffs that were planned and announced back in July are done. Everyone is spreading rumors about Q1 layoffs but that is not supported by fact. Chill out. Could more layoffs happen at some point in the future do to continually dwindling economic conditions, absolutely, but that’s always the case.
Yeah, but look at all those EC members who got let go.
Oh, wait...
I wasn't laid off, but six months gave me. Lot to think about. Even though my position is pretty secured for now (knock on wood). O realize Schwab probably won't let me work past 50.
I mean I hate how long they made us wait as the next guy...BUT let's not pretend that was 6 months of waiting. We found out about RTO in June (on the 15th) and layoffs in July (on the 18th).