Layoffs at Charles Schwab
Apparently lots of people have been laid off at Schwab in tech division this morning Sending out thoughts and prayers to all those affected 🙏 #layoffs #charlesschwab
Any particular org hit?
Not sure on org, but it looks like people's managers mostly?
If they're keeping the TD tech staff that's good. My TDA accounts that got migrated to Schwab have a worse user experience now.
That migration is likely to continue. Except now your experience will get significantly worse. I personally know some of the people who were laid off, they were single handedly the ones with the vision, drive and execution to deliver a better experience. With them laid off, i’d expect this ball to fall in the eng teams scope, and they are a mess.
Td is merged with Schwab's?
It’s accurate. I have friends who were let go
How many?
450 or more.
What location? West lake mostly?
every location was impacted
Any news about UX/design?
Yes. Some UX folks were impacted.
Austin & Denver had a good share of tech folks, what's the impact?
Our team got cut by 4 peeps 3 devs and one director
Tenured? Levels and location?
Take a look at Fidelity they need people
Dang rip