Senior leaders should be accountable. They should forego raises and bonuses this year and more fully fund the pool.
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Walt's reasoning was flawed the second he pointed out what his peer CEO's are doing at other firms. What's right at other firms isn't what's right for Schwab.
Following the crowd isn't leadership. You should know better than that Walt.
Pointing to what’s bad over there or what was worse in the past isn’t the way a leader should address what’s bad now. I don’t care about Schwab in 2001. I care how it is now.
Walt stated JPM and Goldman are at 5 day RTO - nope they are at 3 days. Walt never stated that Schwab will NOT go to 5 day.
The EC members and Senior Leaders will continue to be rewarded for their stupid decisions on how to run the company. Who else is going buy 20 year treasuries in a rising interest rate market? Layoff 5% of total head count and continue further layoffs in Q1 or Q2 and let’s not forget RTO-there is still a little room to mess that up even more. It’s the Feds fault and they will continue with their lavish lifestyle while the rest of work in the CS&Co sweat shop.
Challenge accepted
The EC members and Senior Leaders will continue to be rewarded for their stupid decisions on how to run the company. Who else is going buy 20 year treasuries in a rising interest rate market? Layoff 5% of total head count and continue further layoffs in Q1 or Q2 and let’s not forget RTO-there is still a little room to mess that up even more. It’s the Feds fault and they will continue with their lavish lifestyle while the rest of work in the CS&Co sweat shop.
"Senior leaders should be accountable. They should forego raises and bonuses this year and more fully fund the pool."
Ummm thats not how this works! I have 5 more garage bays to fill and my wife wants a new kitchen in our aspen home!
Walt gave a flawed answer that it would come from shareholders if bonus percentages were raised for most employees at the expense of EC. It may not be much of an increase for the average employee if enacted but it would be a symbolic move where executives are feeling some of the pain especially since little or no EC members were part of layoff.
My last bonus will be little. Sounds reich.
At least I won't be here for 2024 bonuses.
2024 won’t be any better.