It is a disgusting tender sic box that is about to be exposed to fire Although they sent the email out saying everyone can wfh, they are still not in a position to support it but attempting to get the infrastructure in a place where they could support WFH. Non-essential employees are mostly working remote now. It appears to be employees who work directly with the phone lines, the source said. Employees were asked to sign in after-hours on Monday Mar. It worked for some but not all. Management is actually calling now to verify people are in the office and at their desks non - essential.
There have been trading issues. The team in Orlando and Texas is very upset and morale is poor, to say the least. The likely culprit is the company's dependence on physical servers in physical offices, says Anders Jones, CEO of Facet Wealth, a start-up with a business model that parks its advisors at home. But it becomes a bandwidth issue. This can only handle so many users. But by Sunday, the company realized it needed virtually everyone at home. We know you have many questions and your voices are being heard," she spoke in a video message Wednesday to staff.
Currently, cloud and cyber have the lion's share of the budget," the staffer added. Ned Johnson pounded into our heads that we at Fidelity must always be at the forefront of innovation. Meanwhile, TD Ameritrade seems to be a few steps ahead of Schwab. Schwab told everyone on the same Orlando office floor to go home and quarantine for two days, the source said.
His company is also able to handle remote phone calls following SEC compliance and uses computer-based Zoom. Included in the wholesale reduction of the Omaha, Neb. Toggle navigation. Related Moves. Share your thoughts and opinions with the author or other readers.
Congrats Schwabbies. Thanks to your comments here, RIABiz's work posting the story in the first place, and probably most importantly a major financial news outlet picking up the story, Schwab finally took action. Sad but not surprising that it took a mountain of bad PR to get the EC to finally stop bickering and move.
Corporate executives are human. They make mistakes and the best executives realize their mistakes and change. Social media won this important battle! Happy for Schwab employees. Corporate leaders make mistakes. Great leaders recognize their mistakes and change. After this ordeal and the horrible decisions made by Walt Bettinger, I have remarkable respect for Abby Johnson.
Walt sent a totally staged and rehearsed video to all of us on a Sunday. Give me a break. Then he goes on to say that he is just in the office on a Saturday afternoon getting some work done. You sir, can go to hell. I was at a firm over a decade ago that had VPN and remote access far superior to the capabilities that Schwab has. I have clients that are reading these articles and they want to know if we are ok. One client said that they were embarrassed on your behalf.
Even now, they want us to work in the branches but not allow the public inside. After more than a decade with Schwab and always being proud to represent this company, I am done. I have already reached out to Fidelity, who has tried to recruit me for years, and I know of dozens of peers that have done the same. Wait for it, here comes the canned Schwab corporate response how this article is clickbait and everything is under control.
Glad I resigned from that branch network years ago. Clearly leadership is clueless. What major company does not have a disaster recovery plan? Clients should be very concerned. The fact of the matter is the only thing that ever factored into schwabs decision to change was the image projected to the customers. So the moment a little bad PR came in, total reversal. Please realize that Schwab has closed offices only to the public. The employees are still required to come into the branch and work over the phone and computer.
There is no control over where your fellow employees have been, where people in their household have been, etc Why are we forced to come into a branch if the public cannot come in? What about those of us that depend upon public transportation to get to work? Should we just cross our fingers on a subway, bus, uber? What a group we have on our, "executive council" I will be the first to participate in the initial class action lawsuit.
You should be ashamed of yourselves. Fido has spent bazillions on IT - with many well known fails. Moving to the cloud is no guarantee that a company is ready for remote working. Just because you don't have physical servers and moved them to the cloud doesn't mean that remote access and the highly complex telecoms requirements of such an enterprise is a done deal. Fidelity obviously thought ahead and are now poised as the winner by shaming its competition.
Hats off to Fido. I currently work in one of our centers. This is what I have observed and acknowledged over the past few weeks in no specific order. The BCP was disgustingly ill-prepared. So what if no one could have expected this? What if there was a natural disaster or city-wide power outage in Phoenix or Denver?
You would reroute calls to another open center because you already knew you didn't have the capacity to have a full center WFH. And, here we are Walt's Video. Fully agreed it's canned. And he mentioned he was in the office working. That is not the office of a CEO and there is a house out the window in the background. At the center I work at, we literally just got directives to make a decision on whether to come in or not.
Not "it's up to you". It's very true. Through no one person's fault, this company has become so big that it has to keep bringing money in, or it dies with it's revenues and earnings. That means the person in charge is no longer living Chuck's vision, because they can't. Right now, it is not. Why do you think so many people, including myself, post anonymously? Only clients and brown-nosers put there name up. Perhaps your argument is that we are just trying to give Walt or the company a bad name.
Yeah, like we dont have anything better to do with my time than troll a company on this website. I'm worried about my family and this post is a result of that. Lastly, Schwab, under Walt's supervision, has ALWAYS fought the battle against boosting tech and putting bodies in the seats all for the sake of boosting profits and earnings. It blows my mind. You spend money on garbage projects, many of which never see the light of day, rather than developing more experts in the field.
Terri Kallsen was hired specifically to cut costs for the firm and that destroyed our morale. When her job was done, she got the golden parachute, which I'm sure amounted to millions. Walt, I'm sorry man. You let your greed takeover. That being said, we're intelligent enough not to just skim the pages of this situation.
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