I could deal with layoffs if the leadership cut the fat where it is actually occurring instead of laying off key people from crucial roles in an attempt to boost profitability. The first option would make a positive difference, the one they are choosing has been crippling the company for years. It makes no sense.
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Agreed. Schwab leadership is acting from insecurity not strength. True leaders create a powerful vision that engages and enlists support, then they empower the organization to deliver. The tactics employed by Schwab are uninspired management behaviors of command, control and compliance which will only keep the company in place. These are the behaviors of managers fearful of losing power, not leaders and innovators.
Load of BS! Layoffs are terrible If they affect you and specially when you are so stressed over Thanksgiving and the whole holiday season, it was a very Jolly Christmas! Right?
They did not happen based on logic or reason, almost never do, Schwab wanted to send a message to investors and that was it, and believe me, if you were impacted like I did, no way you can post something with this title, period.
Generally speaking if you’re laying people off then you are no longer growing. If you’re not growing, you’re not successful. Layoffs are bad news, no matter who is laid off.
It wasn’t just about profitability.
Companies, and this one specifically, use layoffs to coerce remaining staff to stay in line while removing those they couldn’t get rid of otherwise. Those are people in protected classes and anyone a manager doesn’t like or is threatened by.
They toss in a few junior employees and hire a consultant to make the decisions to make litigation difficult. Remarkably the consultant selects the same people.
We did it before. We will do it again.
The test will be RTO next week. Many aren’t coming back and more will protest quietly. Walt will make some nonsense announcement about 99% compliance. There will be little gifts and badge tracking and keyboard monitoring and all sorts of threats. And we will fill out another survey.
The beatings will continue until morale improves.
Agreed. It's only about the numbers. No strategy or vision from the EC to strengthen the company for the future.