As someone who was let go last October, it is pretty disappointing to see the huge increase in Schwab advertising across all types of programming (news, sports, including most recently the NBA playoffs). You would think they would measure this a bit more responsibly and manage spend to prioritize their people and save jobs as opposed to slashing people then spending huge amounts on advertising. I’m no expert but I’m sure airtime is not cheap, each one of their corny, God-awful ads is probably at least one person’s annual salary/benefits. Probably more.
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I try, and try to unsubscribe from ALL the Charles Schwab online advertising, and just keeps coming and coming. I'm getting pretty ticked off with Charles Schwab !!! I'm tired of it !!! I Don't Need Their advertising !!!!!!!!!!!!!!!!! PLEASE !!!!!!!!!!!!!! GIVE ME PEACE !!!!!!!!
With all the extra money from getting rid of so many people, might as well advertise how great they are with their 23 remaining employees.
Oh yah Stacy is quite something!
As an employee of Schwab, I think the increased marketing to potential clients is wise at this time, and that the firm takes its finances seriously for longer term.
Did we overhire? Yes, and this was openly discussed when purchasing TDA. The RIF last October was a widely known event.
Luckily, Schwab has one of the best severance agreements, and provides some support during a difficult time.
You don’t know what deals may have been worked out…. You’re assuming they’re throwing money away without a significant ROI….
Yeah it’s definitely disappointing from the point of view you have I can understand that. However, the fact remains that advertising drives revenue and it works. Stacy Hammond is one of the few people at this company I would trust with a large budget tbh (I am not in marketing)
It’s been 7 months. Let it go.
Honest question, why would they skip advertising which is proven to attract revenue to save jobs they've proven are not needed and would take from the bottom line? I'm against many of their decisions as much as anyone on this forum but this is basic business knowledge.
Make sure you don't look at the raises and bonuses they gave the EC and Board. Way more than one person's comp.