| Topic Name: |
More Layoffs? |
| Message Name: |
Sad, but True... and For Some Good Reasons... |
| Date Posted: |
01/15/2006 |
| In Reply To: |
Sad state of affairs, Schwab is once again laying off simply b/c they once again have a new leadership team trying to figure out how to make this thing work, and as usual, they overhire based on the flavor of the month and don't ever think things thru. And where is Chuck in all this, there have been no communications, no announcements on the rationale and no efforts to redeploy extremely effective people into other roles should their particular function happen to go away. Basically, layoffs seem to be annual now like it's just a matter of course, vs years ago when it was unheard of. I can't remember the last time I heard Chuck or the Exec team talk at all about the importance of their employees, this company will not survive unless they start redirecting their energy toward their employees, especially given morale is low and people have pretty much had it with poor decisions, turnover in leadership and the change in culture. |
| Message: |
Yes, it is sad... and I personally am scared to death about losing my job next week... It sounds really bad, as an email went out to the whole Finance org with a number of 185 jobs to be lost, 50% of them Directors or above. Schwab has gotten quite adept at doing layoffs, hasn't it? That said, I must admit it is consistent with the refocus and recommitment to our clients. $ saved will be redirected to invest in what our clients (and the field that serves them) both need and want. HQ has gotten too bloated, and the HQ marketing groups got away amazing unscathed during the last round. There have been simply too many Dir/VP/SVP types stepping all over one another, trying to do similar jobs. I wish all of this weren't true, but who can disagree?
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