I am just curious , if Schwab have more employ Post TDA merge why Schwab not reducing contractors ?
Why they are opening project for outsourcing when they can do in house.
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Another thing from my last post about inefficiency... At TDA, as a business person we could talk directly to the developers and get stuff done. For the 4 years I was there post acquisition, I never once talked to a person that actually coded at Schwab blue... How anything gets done there is absolutely amazing...
Fido has over 70k employees and are still hiring. Where do you get 8k?
May be some is benefiting at the top?
If something broken some where and no one is fixing , it has hidden meaning some at the top is benefiting, Now question is who, what?
Maybe they save money with them but they know nothing about processes, often aren’t qualified, don’t have the relationships with people etc. It’s a very short sighted way to save money. Contractors were kept on team over good hard working employees with a ton of knowledge. Try coming up with a new product or service instead!!! It’s just like the government! Somehow Fidelity gets by with 8k employees! Why would you need over 30k!!!!!
Schwab is a clown show... I was let go in the October wave and was so happy and over the moon, because I could see this was going to be a slow drain on my life. Started my own company and ain't looking back. My team of 7 did the work of probably what 100 people did at Schwab because everything we built on the Green side was to eliminate paperwork and increase efficiency. And of course, everything we built got tossed out by the smart guys at Schwab and now a person on my team who still works there, told me they are looking building what we had done.
They acquired it, they had it and they could have adapted it, but nope Schwab was the winner and they couldn't see the forest through the trees. It's not my monkey or my circus anymore and am so happy I am out of that joke of a place. Sayonara. Good luck to those who stayed, I feel for you.
As an ops employee from TD, I was SHOCKED to hear how many offshore processors we have in our section of the dept. It’s over 200 employees in offshore alone…
They consistently mess things up, route items back for clarification when none is needed, but the biggest kicker is : they’re absolutely necessary. They do loads of work that we don’t even touch
It’s utterly baffling to me how TDA was able to process way more work/requests with like 40-50 processors and Schwab needs HUNDREDS to do the same. Just goes to show you how outdated and inefficient the systems and processes are on the blue side. It’s mind boggling and makes no sense
Supposedly cost savings and easier to get rid of