Starting to hear water cooler talk that the lists are being aggregated as we speak.
For those impacted I hope that's in November and they are bonus eligible.
Not clear on size. I'm guessing it would be enough to stay under the public reporting.
Anyone else hearing the same?
I can relate. I've been shorting stuff like CHWY and GME and made a lot of money so far this year. Do a little research on overvalued stuff and you can come out ahead. Much better returns there than just pumping money in to bonds or small cap MF's and hoping for the best.
We might as well get rid of some FCs. Dude told be to buy bonds. I made more money from r/wallstreetbets.
Contracts are being cut. We have to fight and defend to keep any.
I can confirm in my team a Product Owner and 2 Engineers both Contractors aren't getting their contract renewed. Both were here at schwab for 1 year. You can be a contractor for 2 years but looks like they aren't getting their contracts renewed. We are a team of 8 and 2 are being let go. Not sure if its a layoff but this is what I know.
Clearly fake. Someone in Russia.
Harness next gen 🃏🃏🃏spotted
Team where non-🧑💻 pretend to be 🧑💻🧑💻
Can someone please confirm or deny the previously posted 10/32 layoff date.
Which month contains 32 ?
Can someone please confirm or deny the previously posted 10/32 layoff date.
Clearly fake. Someone in Russia.
The date is 32/10.
Can someone please confirm or deny the previously posted 10/32 layoff date.
I would will take opportunity to propose name "HARNESS-NEXT-GEN" team , to Ship of to HyrdaBad or revamped both service and fte.
This time we should not miss opportunity of inventory for ("HARNESS-NEXT-GEN" ) keeping
It’s just westlake trolling bc they are mad they have to live in Dallas and they know in their heart of hearts that Austin is way more frothy
You all are crazy with these Austin rumors. It is one of the 4 major sites and Westlake is at capacity. They can't even close Southlake yet.
If anything the 30 rogue offices will start closing.. maybe Austin gets sold and leased back or to the extreme they into a cheaper option.
What’s with the rumors about the Austin closure again? Aren’t there too many people there to just get rid of it?
Unless you are in Austin you are safe. If you are in Austin, start packing up your personal belongings. At the beginning of November they will be announcing the closure of the campus, a decision they didn't take lightly. Some will be offered the opportunity to move to Westlake, mostly Managing Director level. The rest will be asked to seek employment elsewhere.
Just Curious what will happen if I move my family's account else where if I am laid off. Currently around 2M + in assets in 401Ks 529s and other individual accounts all are at schwab.
Moving for vendor diversification is one consideration.
With a small asset base, you should keep in mind that you’ll get slightly better treatment when balances are over a million. Things don’t improve that much until five where they want to keep you happy if they can.
Otherwise it’s just another set of 1099s, RMDs and logins.
Definitely support diversity. Strategically you may want to shop the competition and Schwab to see what services you can get. And moving only retirement might simplify taxes for now.
I see 3-4 Directors and MDs still have Schwab as their employer in their linkedin. They were all sent home last October. I don't think they've landed a job. They just keep liking and giving thumbs up and re-sharing Schwab's Linkedin posts. Looks like no one wants to hire them. LOL
No one would want to hire my former director. Even in a world where management and bad are synonyms, they were a standout.
Schwab leadership has a terrible reputation. If any of them gets let go, it will be hard to be hired elsewhere as many ex-employees (mostly laid off or forced to resign) are now working at competitors and holding a lot of grudge against Schwab. These ex-employees will go out of their way to make sure these so-called leaders do not get hired at their current firms. Having them come on board at a new firm will create bad blood with that firm's employees. No secret in the industry that Schwab leadership is toxic and incompetent.
Not that competitors' management is perfect but based on postings and reviews, Schwab by far has the worst leadership / management.
Just Curious what will happen if I move my family's account else where if I am laid off. Currently around 2M + in assets in 401Ks 529s and other individual accounts all are at schwab.
I see 3-4 Directors and MDs still have Schwab as their employer in their linkedin. They were all sent home last October. I don't think they've landed a job. They just keep liking and giving thumbs up and re-sharing Schwab's Linkedin posts. Looks like no one wants to hire them. LOL
We have a Peeping Tom at the Water Cooler. God knows what other weird Fetishes this person is into. LOL
As a 50+ FC at Schwab, I love talking to the younger generation on campus. Sometimes I’ll just walk over to their cube for some jib jab
If you are in your 50S you should be sh-----g your pants right now. LOL
To the Mo--n Who Posted a Regarding My Wife and Kids. Fu-k you and your family you Piece of Sh-t. My Wife has just landed a job at Google and Currently is Interviewing at Meta and Apple Making More money than you and your entire fu--ing family RSUs to the Moon Bi--h! You Will Die without any real benefits working at Schwab. Eat Sh-t Mo---------r.
Oh Fu-k Off Mo--ns. If I get laid off I will Find another high paying Job. I can't work with D-mb Managers and Directors at Schwab. Bunch of 90S graduates who are stupid than a 2nd coat of paint.
Is there any truth to the I heard it in the urinals date of October 32nd as being the date. Please. I have a useless wifey and three hungry kids to feed….
We are in a new reality where we can't really afford to live on our own anymore. There is no shame in moving in with family to save $. We cannot be at the mercy of our employer. Please think hard on your priorities. Sanity and mental health should come first.
Agree except the first sentence.
Work stability and sufficient income are rare. There have been layoffs, under salaried labor, debts and everything else throughout modern times.
This feels different because there was a long period of generally positive financial trends followed by an unprecedented pandemic, supply chain disruptions and massive corporate profit taking. Many in the workforce don't even remember 2007, let alone 2002 or before.
The rest is absolutely right. But before going to mom and dad, which data shows are ill-prepared for retirement themselves, focus on personal debt management, savings, spending and contingencies. Contingencies includes side-gigs and the next job, which may be your own business.
Adulting is hard. But we are all doing it everyday, so do it.
One thing I have learned in life is the only constant is change so we must learn to be prepared for change. Nothing is forever. Be the change you wish to see in the world
We are in a new reality where we can't really afford to live on our own anymore. There is no shame in moving in with family to save $. We cannot be at the mercy of our employer. Please think hard on your priorities. Sanity and mental health should come first.
Folks I am worried. My wife got laid off 2 months ago after working 8 years at her job. I have 3 kids and a Schwab Layoff Impacting me would be catastrophic for my family. So please post facts here. Thank you! I just want to do my job to provide for my family.
Here's the facts.
So, what to do?
The best plan is to assume every single day that your job will be gone. You may have a health emergency. There may be a pandemic. Natural disaster.
Being prepared means the outside forces lose control of you and your family.
Best of luck. If it is any solace, many here have been or are in the same circumstance.
Folks I am worried. My wife got laid off 2 months ago after working 8 years at her job. I have 3 kids and a Schwab Layoff Impacting me would be catastrophic for my family. So please post facts here. Thank you! I just want to do my job to provide for my family.
October 32nd. Heard it while using the urinal. Mass layoffs. Only Walt will be left.
Maybe. I'm still hearing and waiting for RTO5. Makes more sense to get people to walk than gift them.
I’ve not heard anything. But I expect Q4 to be when Walt announces, with a tear in eye, he’s retiring, Rick ascends to the throne, some more EC members retire or take on cushy advisor roles, and a ton of reorganizations begin.
Good luck to you! Most of us laid off last November are still unemployed and have applied for 100s of jobs, have great resumes, skills and education. See you in the bread line!
October 31?
I have not heard anything but then again, I am just a little ol’ peon. Would love to hear more, like areas, locations, levels? Would this also be when we go to 4-day RTO?
Makes sense. The stock isn't performing, we have tons of tech debt, incompetant leadership, buzzword heavy vocabulary that means nothing, RTO which demoralizes people into not giving their all, and almost zero growth as we are not really providing any new services to clients.
This will probably be the norm every year until the offshore HQ is finished and AI can perform a lot of the duties that the phone reps do. I'm not advocating for that, but it's bound to happen. That will destroy the stock price even more, especially when a small startup pops up that gives clients a better experience and excites employees to work. We're not getting that at Schwab anymore especially with how greedy and gluttonous our leadership is. Enjoy the ride and don't overwork and expect them to notice, they absolutely don't care.