Thread regarding Charles Schwab Corp. layoffs

Full Circle Karma Moment

I had to laugh at this- had a couple of people leaders of different levels who I’ve worked with reach out making soft enquiries about my new role at a different company. If they were to leave, there would be significant disruption and interruptions in operations. What made me laugh was that I’m pretty sure at least one of them is responsible for my layoff. I’m going to choose to be the bigger person if anyone else reaches out and will do what I can. But I do believe all of leadership will face the consequences of how they’ve been mismanaging things. It took having to leave and look from the outside for me to really see that I wouldn’t want to work in that ne of culture if I can help it.

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| 1771 views | | 17 replies (last February 17, 2024) | Reply
Post ID: @OP+1r3XFdM5

17 replies (most recent on top)

None of the people leaders you talk to on a regular basis had any say in layoffs. It’s not as if a list was presented to us for feedback. The decision was made above the MD level and dictated downwards, and was not up for discussion.

They did not look at performance, since high performers were let go. Nor did they seek feedback from directors or managers to see who was critical and who was not.

They just made decisions and passed them down.

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Post ID: @4vhj+1r3XFdM5

They are told they have to cut a certain number of headcount and encourage to find those that they can live without. Also probably told to make sure the reviews are accurate in that "We don't have STELLAR employees" - thus the result of recent reviews. ALL driven by upper management

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Post ID: @3byd+1r3XFdM5

I also got the same treatment as @1dwz+1r3XFdM5 and @1agl+1r3XFdM5. Blindsided by a partially meets expectations in last year’s review. Laid off in October. The text of the writeup was a farce. I know of at least one other person that was subjected to this as well. I’m curious about how this works behind the scenes. How high do the instructions come from? Is it in the form of “we need to trim salary in your department so pick out someone and trash them in their review so they will either quit or we will have grounds to cut them”? Does HR facilitate this? For this to happen across departments it would have to be coordinated at a high level and be policy.

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Post ID: @3pzr+1r3XFdM5

exactly the same thing. never had a bad review in my life until the final one. the only thing that changed was getting one of these smarter-than-you managers. axed shortly thereafter.

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Post ID: @1dwz+1r3XFdM5

I had the same situation as @bzi+1r3XFdM5 , a bad review all of a sudden, then a few months later it was a hammer time.

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Post ID: @1agl+1r3XFdM5

"It was only a matter of time before we'd read this story. Those of us left behind are seeing that things are even worse than they were a few months ago and are using ex coworkers to try and get out! LOL"

Heard through the grapevine that the "employee council" that was hand selected to provide communication between EC and employees was instead tasked with coming to the first meeting with ideas on how to generate NNA — tell me there is no corporate strategy without telling me there is no corporate strategy, then task employees to come up with one while you make tens of millions as you su-k the souls out of employees and keep wages stagnant but force higher RTO expense - all under the guise that this "employee council" is to be a sounding board to let EC understand the perspective of employees. Every day feels like I'm stuck in a really bad reality TV show.

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Post ID: @1owz+1r3XFdM5

@ouu+1r3XFdM5 I honestly can’t tell what is satire or not anymore.

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Post ID: @1gmq+1r3XFdM5

Things aren’t that much worse. Engagement is fine for the amount of change, and RTO is underway and a significant change to the org and to people’s lives. Some people just take time to adapt to anything and take a negative path.
Best of luck to you, and all others reading this - and hope all find some role that makes you happy

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Post ID: @ouu+1r3XFdM5

Classic! I love this. I can’t wait for coworkers who couldn’t bother to reach out to me when ai was laid off start contacting me when I get a new job. I will not “be the bigger person”. The only good part of the layoff is I don’t have to deal with any of those self-centered backstabbers anymore. They all truly deserve each other.

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Post ID: @ptj+1r3XFdM5

K.I.A.
Karma in action.

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Post ID: @zdv+1r3XFdM5

Ha Ha Ha... Let them get jobs at Walmart. Do Not Entertain this BS. You have skills and they don't. It will eventually hurt them...

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Post ID: @dpu+1r3XFdM5

Seen this many times over the years. There's a bit of karmic satisfaction in either ignoring these pleas or torpedoing their chances at getting on at your new gig.

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Post ID: @ytk+1r3XFdM5

I’ve been gaslit into accepting a does not meet expectations reviews back in 2022 despite carrying multiple teammates and contractors through the year. In retrospect they probably did it to setup my layoff. I agree with the assessment that they should get a taste of what the job market is like and use their own merit to get hired elsewhere.

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Post ID: @bzi+1r3XFdM5

ooh poster @cah+1r3XFdM5 - I do agree with you. OP let them squirm and make themselves sell their skills in the job market. I too agree that they probably did not do anything to keep you around and the fact that you already have new employment and they are reaching out to you says a lot. You surely wouldn't want to end up working for them again. Be brave and be on your own - you owe them nothing

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Post ID: @npu+1r3XFdM5

lol, they weren't strong enough to keep you around. I would not extend yourself to protect them. The only semi-negative performance reviews in my life happened right after the announcements of the need to cut 500 million. Let them sweat this job market a while

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Post ID: @cah+1r3XFdM5

It was only a matter of time before we'd read this story. Those of us left behind are seeing that things are even worse than they were a few months ago and are using ex coworkers to try and get out! LOL

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Post ID: @mqn+1r3XFdM5

Poetry in action.

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Post ID: @yyf+1r3XFdM5

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