Charles Schwab is reported to have liquidity problems. Also look to the efficiency ratio in the filings April 15th. The workers will pay with their jobs.
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They are having major issues. No company will lay off or sets up their employees to fail for the heck of it. But then with Schwab you never know. They are a mess and God help their clients.
Schwab is a horrible company. Clients should move their assets out to another institution while they can. Why all the layoffs and forced resignations? Why the desperation from management to set up their employees to fail? There's a purge going on inside the company and clients need to really think if they can trust these crooks to manage their assets. How Schwab treats their employees will be how they treat their clients' money.
They are only making $ based on layoffs. Schwab's new model is a failure so relying on layoffs to come up with the $. However, there are only so many employees they can get rid off and those employees happen to be Schwab clients as well. Eventually, the non-employee clients will leave as well. The experienced advisors and sales people whom Schwab terminated will come back and haunt them as those folks have a loyal customer following who can easily look them up on LinkedIn. Clients are already upset over losing their advisors who "unexpectedly resigned."
Oh they are making money - look at what they pay their execs
I heard layoffs are coming up in May
Schwab's satisfaction score from advisor clients dropped from 752 to 733 over the past year (average = 735): https://www.barrons.com/advisor/articles/jdpower-full-service-investor-satisfaction-us-bank-cecb8034
I hope they go broke. They deserve to go out of business
This is just false. Move on. Not a huge fan of the EC, but trying to make false statements like this to stir everyone up is just wrong.
😱
What does negative ratio mean?
Yes, negative ratio!
Anyone else notice Schwab recently added a new Minister of Propaganda… errr I mean “Chief of Corporate Affairs” who specializes in “Crisis response” to the EC?!? Is this for past corporate mismanagement or future mismanagement? Either way it does not inspire confidence. “The beatings will continue until morale improves”
Unlikely.
Schwab had better liquidity at ~65% last year and positioned to start seeing cost reduction benefits this quarter. While we will see more labor reductions and other cost cutting, our trajectory is likely to map to Boeing’s with strong stock performance and terrible erosion of the business.