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Vault Message Board: Charles Schwab

Topic Name: More Layoffs?
Message Name: curse walt
Date Posted: 01/23/2006
In Reply To: I heard then got rid of a bunch of useless RBE's. The Bubster got his walking papers and a bunch of others. I heard the captains of Advice (DM & CS) are on the street. I hope there is more to come. Those windbags have been killing this company. Hopefully WB will continue to spread the gospel and blow out a few more.
Message: I'm pretty sure Walt and co are completely out of touch. One reason....the new comp plan. Its completely assnine. I'm an IC that runs a $350 million book and instead of getting paid on retention, I'm getting paid on new assets into my book. Say what? you ask. Thats right: I don't even sit in my market, yet I get paid more on new assets into my book than retention. Also, the layoffs are a joke. People who have relied on the old boy network get to stay while the real passionate, dedicated leaders get the door. Nobody thought this thing through. Walt may have gone to Harvard but his restructuring plan is first grade.

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