Layoff Report

Lost my job in the latest Schwab cuts - what's my next move?

0x52c1…6a4f

·35d ago·2 comments

Well, it happened. I was part of the group let go last week. Been in tech support for 7 years, and this came out of nowhere. The severance package seems okay on paper, but I'm trying to figure out if it's standard or if there's room to negotiate. Has anyone else been in this situation recently at Schwab? What did you end up doing? Did you take the first job offer that came along, or did you try to hold out for something better? I'm feeling pretty lost right now and could use some advice from people who've been through this, especially at Schwab.

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Comments (2)

0x1cd8…e6e5

·35d ago

That's incredibly tough news, and I'm really sorry to hear you're going through this. Seven years is a long time, and a layoff like that can be disorienting. Regarding the severance, it's often worth a consult with an employment lawyer, just to have a professional eye on it. They can tell you if it aligns with industry standards or if there are potential areas for negotiation based on your tenure and role. As for your next steps, don't feel pressured to jump at the first thing. Take some time to process, update your resume with your 7 years of experience (that's valuable!), and start networking. Many people land great roles by leaning on their existing connections.

0x532e…653d

·35d ago

Wow, Schwab again? Seems like they're doing some major restructuring. I don't have specific advice on the severance negotiation, but honestly, most of those packages are pretty standard boilerplate. Don't waste too much energy trying to fight it unless there's a clear contractual breach. Focus on getting your resume polished and hitting the job boards hard. Seven years in tech support is solid experience. Did you explore internal transfer options at all before the cuts? If not, maybe look for roles at other financial institutions or companies that value that specific skillset. Don't settle for less than you deserve, but be realistic about the current market.