I saw the announcement of a high level MD "leaving" coupled with the # of fte employees reporting to Walt dropping 500 overnight
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Any contract workers with their 18 months technically up told to wait out the 2 weeks from 12/31 without working and they will have news soon? This is what a very good friend of mine is being told from his manager. Unsure if he’s even employed at this point.
Brian B, rhymes with “Schmender” was fired on 1/3. Head of Workplace in Ohio. In the job & on the exec C for only 9 months. Nepotism appointment that wasted a ton of time & sacrificed good people in the layoff last fall when that guy should have been let go. Actually, he never should have been hired into that job to begin with. He was somebody’s “guy” and that someone has a pretty terrible track record with playing favorites. Another backfire.
@1acu+1qp9HJYj yes they are FTE , if they are hired directly to Schwab.
Not thorough contractor
Update - looks like a glitch in the matrix on those 500.. 450 turned magically. Interesting...
Head of WFS let go on same day RTO began …
Probably dues to people planning end of year retirements, people who can't make the commute to the office, then a few smaller layoffs is my guess
An initial thought is that a 500 employee drop on 1/3 may be due to technical developers with contracts expiring on 12/31. I was surprised by the number of contractors who were scrambling for new jobs/renewals just before I was let go on 10/30. However, I am unsure whether contractors fall in the FTE count.
No
What area was this in?
Yes and there will be more unannounced rounds before merger completion