I just received an e-mail from Schwab Talent Acquisition suggesting I update my profile as I reach the end of my employment at the company (on 1/5). The e-mail also encouraged me to continue my career exploration at Schwab and to set up alerts for future roles. I figure this e-mail is all about saving face, and it struck me as funny/sad/and somewhat insulting. I was an individual contributor working on data systems, analytics, Google Cloud and working my butt off... mostly trying to help my department move Schwab forward in technology. Given the current situation at Schwab (a hiring freeze, no backfills in 2024, more layoffs(?), and the quality of Tech talent let go), I will pass. Good luck to Schwab in rebuilding.
6 replies (most recent on top)
I laughed and laughed and laughed, then I clicked delete. :D
I found the email quite entertaining. I just crawled out of the pit run by clueless leaders all the way up and this email suggests that we would want to opt back in? Hard pass! Many high paid senior people were targeted to save cost. The company wasn't actually paying market for proven marketable skills and performance in the first place. I have had several job offers so i know what market is.
The company really just wants fewer, lower paid workers. B or C players is fine, so long as they can be good order takers and help cobble a story together in some pretty powerpoint. Actual fact based substance -- not important. If it turns out to be a total value destroyer in the end -- no problemo! Another deck to explain the problem away with a new pitch to get more money is all that is needed. ....Laughable. ....Wash, rinse, repeat. It's the Schwab way and has been since at least 2017 when the big hiring frenzy started.
Overall, this gift turned out to be a win/win for me and probably most others. I got what i wanted and so did they. Got to love it when it all works out. ... For those less certain, fear not. The future is so bright.
Best wishes to all in the road ahead....and Happy New Year!
If this is true, it is not illegal for Schwab to do as long as those resources remain offshore. It is the work that is moving and not the position that is being replaced. No H1-B Visa is needed as far as I understand. The move is certainly unjust and uncaring towards American workers, but would be expected from the McKinsey "heads" running the EC. It makes me wonder who is looking out for American technical workers... certainly not our government or DOL. Both angry and sad.
I think it is just an empty gesture. They’ve not only frozen the hiring budget for tech but also innovation budget for new projects so all that’s left is maintenance work. I don’t think they are hiring people back.
Mo--ns.. Offshore is still filling resources
Probably just another "box check'" email from Schwab. Corporate culture at its best!