Thread regarding Charles Schwab Corp. layoffs

10 replies (most recent on top)

Not worth it

by
| | Reply
Post ID: @1b0+1kzwxhh1b

You cannot get a promotion if you are remote at this firm, unless you politically have a way in and get an exception. Otherwise, do what you need to get by and get a check like most others.

by
| | Reply
Post ID: @16a+1kzwxhh1b

First, is the raise in pay enough to not just compensate for the commute time she'd be losing, but that would actually make it worth her while (if she will need to commute 1-2 hours per day, that is 20-40 hours per month). Not to mention gas, tolls, hassle being in the office (politics, gossip, a lot of people talking around you when you are in a Teams meeting or just trying to work), lugging your lunch every day, etc. Second, does the promotion come before the relo? Third, will they pay for the relocation? Would she be relocating to a place that she wouldn't mind living if there's a layoff (one is coming this fall btw). Is the new role something she really wants and will help her career? Finally, does she not really enjoy a WFH situation and would actually rather work in the office (a lot of people do prefer in office) or is neutral on it?

by
| | Reply
Post ID: @14f+1kzwxhh1b

A friend of mine was in the same situation and fell for it.

Two months later there was a reorg and the manager position was gone, and he was back to where he started, but now in the office.

by
| | Reply
Post ID: @mk+1kzwxhh1b

Don’t do it. Schwab is trying to force remote people back into the office and are being extremely cut throat about it. Human Resources have received complaints from employees being denied opportunities for promotion, even if the employee has a ADA accommodation. They DON’T CARE. Schwab is taking the Trump approach: push the envelope by bringing back discrimination and hope it won’t come back on them legally in the future.
Don’t do it. I have heard countless stories of employees giving in to demands because they were promised a promotion and years later, they are in the same position and pay grade. I feel bad for people who were sold this opportunity when being poached from other firms and would have been better off if they had stayed with their old firm. It’s SO common!

by
| | Reply
Post ID: @kd+1kzwxhh1b

Not worth it!

Switch companies instead!

by
| | Reply
Post ID: @h9+1kzwxhh1b

Probably not worth it, but I'd only do relocate if the promo happens first. If they say they can't do that because they don't trust her to move, she should tell Schwab she doesn't trust them to promote. It's a two-way street.

by
| | Reply
Post ID: @df+1kzwxhh1b

I was promised several promotions at Schwab. First it was “after the new branch is built.” Then it was “after Covid.” Then it was “after the merger.” Then it was after this bank run due to the CFO mismanaging the balance sheet. Every time it was “out of the manager’s control. This happened to many of my peers and there were multiple “hiring freezes” where you couldn’t switch departments or get promoted to another department. It’s just a manger tactic to keep you around. Lies are not punished and you have no recourse. Other managers get promoted and now it starts all over again. Finally I gave myself a promotion by leaving Schwab. There is an old saying “wish in one hand and sh-t in the other. Then see which one fills up faster”

by
| | Reply
Post ID: @d4+1kzwxhh1b

Guarantee the promotion will disappear. Restructuring or budget or something. Only a fool would do it.
If they promote and pay for the relo, then maybe.

by
| | Reply
Post ID: @cp+1kzwxhh1b

Bait and switch

by
| | Reply
Post ID: @bq+1kzwxhh1b

Post a reply

: