Thread regarding Charles Schwab Corp. layoffs

Did Robot Rick really use the term “coiled spring”?!? Hahahaha. Did they not upgrade his software or is he really that re--rded?!? It’s not 2012 dipsh-t. You, Walt, and Slippery Pete have gotten interest rates wrong twice already…is the third time a charm?

Schwab does a great job of holding itself responsible for it own failures which our “leadership” needs to own.

All true but Fidelity employees have lot of has very similar comments to Schwab on this site.

Not a surprise. Fidelity is a well managed company and one where the executives did not buy long term bonds and treasuries in raising interest environment. They also did not rely on a “Coil Spring”. They are still offering remote positions-basically the opposite of what Schwab has done.

Well, that and

1. Thinking customers were too d-mb to invest in higher paying interest products.
2. Loading up on bonds in a rising market.
3. Thinking employees were best bullied and underpaid while executives take huge pay hikes.
4. Complete failure to execute major technology initiatives.
5. Letting real estate spend money like a drunken sailor on leave.
6. Being so impotent that you need to spend more money you supposedly don't have by telling remote workers to come into an office that doesn't have enough space so they can sit at the same screen they enjoyed at home.

Yes!!! Here is the most important part of the article:

"Contrasting revenue
Fidelity's revenue and income growth contrasted with its rival Schwab.

The Westlake, Texas, giant's revenue was off 9% to $18.9 billion and its net income fell 22%.

Schwab was flogged in part because of a rough year for its bank after an interest spike.

Fidelity does not own a bank.