| Topic Name: |
More Layoffs? |
| Message Name: |
Maybe you shouldn't worry so much about getting laid off... |
| Date Posted: |
01/15/2006 |
| In Reply To: |
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? |
| Message: |
I fully expect to be let go next week, and I'm perfectly fine with it. You may be scared to death, BabeSoph, but I'd be willing to bet that getting laid off might be the best thing for you too.
As you said, the firm is refocused on and recommitted to clients, and has decided the way to pursue that is through distribution and pricing. So you as a marketer are much less critical to the value-add of the firm. Unless you somehow planned on becoming a rep, team/branch manager, or RBE (actually, RBE's probably not such a great role to have right now either), the handwriting's on the wall.
If you lose your job next week, take the package and go somewhere where your contributions will be valued and more importantly have value commensurate with your capability. Then you won't have to be quite so "terrified" every time your employer has a change of leadership or makes an adjustment to strategy. Thank your lucky stars for the generosity of the package.
If you don't get laid off next week, you may not have any career advancement opportunities at Schwab, but I bet you'll get a big fat bonus next year.
It's all good!
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