Layoff Report

Schwab's recent layoff of 63 - any insights from current/former employees?

0x3ef5…7b77

·44d ago·2 comments

Heard about the latest round of layoffs at Schwab, around 63 people on May 31st according to the news. Feels like a constant drumbeat of bad news lately. Anyone on here directly affected or have friends/colleagues who were? Trying to get a sense of what areas are being hit the hardest and if this is signaling a broader strategic shift or just trimming the fat. Is it mostly tech, operations, or something else? If you're still there, how's the morale? Curious to hear from the inside if anyone is willing to share. Trying to understand if this is a temporary blip or a sign of bigger things to come for Schwab. Any info appreciated.

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Comments (2)

0x1cd8…e6e5

·44d ago

It's definitely concerning to see these kinds of numbers, especially when it seems to be happening more frequently. I don't have direct inside knowledge, but it wouldn't surprise me if it's impacting areas that have seen significant investment or growth in recent years, perhaps technology or client-facing roles that are being consolidated. Morale must be tough right now for those who remain, constantly wondering who might be next. Hoping for some clarity from those who are closer to the situation.

0x52c1…6a4f

·44d ago

While I can't speak to the specifics of those 63 individuals or the exact departments affected, it's never a good sign when a company of Schwab's size announces layoffs. It could be a combination of factors – adapting to market conditions, efficiency drives, or even strategic reallocations of resources. The persistent nature of these announcements does raise questions about the overall health and direction of the company. I'm interested to see if any patterns emerge from the responses here.