Is everyone okay at Charles Schwab?

Wells Fargo L6A7pO
7d 18 Comments

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TOP 18 Comments
  • BMO hPnJ57
    30% of revenue is from the spread earned on cash just sitting in their brokerage accounts (dividends, etc.). Lower fed rates than projected = lower NII and missed targets. Simple as that, a lot of FIs are in the same boat.
    7d 2
    • First Republic cyWT32
      Bingo
      7d
    • Charles Schwab oakTM
      And the President’s twitter says it will be 0 or negative soon. He will push for this heading into election year. It will get worse very soon.
      5d
  • Chase
    ptgi36

    Chase

    PRE
    Neuberger Berman
    ptgi36more
    It’s not about recessions, banks and financial institutions have regular culls to trim the fat.
    7d 1
    • Chase fgUe72
      Its like the yearly 3%? this seems larger though. We will find out soon i guess.
      6d
  • Charles Schwab / Data HvGo52
    Internal email circulated around the same time as the WSJ article. Nobody really seems to know any details. The morale in my office is zero.
    6d 0
  • Moody's HcyS15
    Lots of layoffs at major firms recently. And negative interest rates abroad. Things are... slowly showing signs of something. Recession will come. As for when, who knows.

    I hope the workers at Schwab are okay. Same for Uber.
    7d 0
  • USAA QbSl78
    Probably to make room for all those new USAA employees they’re about to hire.
    7d 2
    • Charles Schwab NCC-1701
      Uh no.
      6d
    • USAA QbSl78
      One can only hope you’re right!
      6d
  • Charles Schwab qsOr71
    They are getting rid of a lot of non essential project managers
    2d 0
  • First Republic cyWT32
    Yield curve bad
    7d 0
  • Pronto Insurance / Data
    csusgrad19

    Pronto Insurance Data

    PRE
    eClinicalWorks
    BIO
    Actively looking for full-time opportunities in Analytics, preferably in the Bay Area. Master's graduate in Business Analytics from UTD
    csusgrad19more
    Huh.. I got an interview request from them the day before. Followed up and they haven't gotten back to me yet LMAO
    7d 1
    • Charles Schwab NCC-1701
      Schwab is still hiring new positions... And eliminating those it no longer needs.
      6d
  • Business Insider / Other
    areporter1

    Business Insider Other

    BIO
    I’m a reporter. DM me to chat.
    areporter1more
    Business Insider just reported this and there is likely more to come. DM me if you’d like to chat anonymously. https://www.businessinsider.com/charles-schwab-managing-director-brad-sorensen-out-with-layoffs-underway-2019-9
    Yesterday 0
  • Apple
    apeAndApe

    Apple

    PRE
    Google, Uber
    apeAndApemore
    Really sad
    6d 0
  • Ten-X RFMR24
    Something tells me we still have some upside to go before things start falling. They probably just didn't do well enough for their clients. Plus lot of competition with brokerages and other funds these days!
    7d 0
  • EY kenesh
    Bloated operations
    7d 0