EC discussion confirmed layoffs. How bad do y'all think it will be?
45 replies (most recent on top)
@“Grim Reaper” - I’m confused. How did selling off the bank tip you off that they were going to close Denver?
Also, the prior CEO is now the Vice Chair of the Everbank board. Not sure what kind of “relationship” you’re talking about, but that doesn’t sound like a punishment to me.
How blind are you people? A year ago a bunch of people were forced out of the enterprise corporation and sold along with the bank. When THAT happened, they were given a 9-month to a year time frame in which "things should get back to normal". This should have been everyone's first clue that the countdown had begun to both the Denver AND Jacksonville closures...was I the only one who saw it coming? Oh yeah, maybe when they exited the CEO of that bank (perhaps not as quietly as they thought) for having an relationship with the Chief Auditor, they should have seen how things were going south, yes? Oh well, glad they closed two US offices and kept the four India offices open, aren't you? SERIOUSLY!
Some mentioned that we need to be grateful that "we still have a job and can feed our families".
That doesn't apply to those that were let go!! ...we don't - and will have challenges moving forward...but in the long term - may be the lucky ones.
T is a joke of a leader - she's a diva - and no doubt TIAA's clientele's leadership is starting to see through the veneer and her repetitive rap... Watch her in multiple appearances -- same well-crafted shpeel...saying nothing.
TIAA massive layoff today 4/9/2024
Their goal is to get people in the office 5 days a week. Some managers/directors are already telling people “just come in everyday and you won’t have to worry about falling below 3 days avg because of pto,sick days, kids sick, holidays, etc.
About the covid question/sick day question. They dont care, im not trying to be petty. They dont. If you take a week from home because of covid then the week you are better you have to do 4-5 days to make up for the week off until your average is 3.0. Dont be surprised when the email comes out
How will this effect sick days and covid variants? Will people feel forced to go to the office when they are sick? The Frisco "top off" was a covid super spreader event.
@12nw - Does this new info apply to those virtual? So all folks now are equal & have to be in office 3+ days?
I can confirm. I’ve seen the email and the FAQ where they pretend it’s beneficial for you to be in the office even if you aren’t working near or even see your direct coworkers. Perhaps they expect someone from accounting might bump into someone from IT and they work out a way to fix the terrible systems over a game of pickle ball. So now if you take a weeks PTO you will be expected in the office everyday for the rest of the month.
Just wait the full email will be out next week, but people leaders already know so fun times ahead
To @10ofs, why should PTO days have to be made up. The purpose of PTO is to take time AWAY from the office. So now they want people to make-up their time off? So, in essence, you'll still end up spending the same amount of days on-site. Ridiculous, what a crock of 🐮💩.
Clown world we're living in, smh 🤡
Re: Return to office… they are doing everything they can to get people back 5 days a week while still projecting the belief that it’s hybrid and flexible. Look at the new building in Frisco. Do you think they are spending all that $$ to let people actually WFH?
Heads up, new info coming about return to office, 3 days a week min and if you take pto you have to make it up lmaooo
Any word on layoffs impacting the Nuveen side?
it's not quiet...no one is posting..plenty of layoffs.
Are we anticipating more layoffs? Seems quiet now…
Bravo!!! Keep the lawsuits coming!!!
Looks like another Vax lawsuit against TIAA has been filed recently.
Glenn v. Teachers Insurance Annuity Association of America TIAA (2:23-cv-02964)
The suit was filed by Hunt Law on behalf of a former financial consultant who was allegedly terminated after refusing to receive the COVID-19 vaccine. The case is 2:23-cv-02964, Glenn v. TIAA-CREF Individual & Institutional Services LLC.
When it comes to checking for WARN notices, what state is it based on? The company headquarters or the office employees work in?
Seems that everything has been quiet maybe there arent any layoffs?
I heard close to 2k on chopping board. hard saving is needed else bonuses chopped for EC n ELT .
Outsource record keeping services with people supporting those product
@gbna
On shore or off shore?
Good luck everyone
Close to 2k layoffs underway in tech and ops . Good luck
Not confirmed but definitely hearing this will have little impact on client facing individuals and little to no impact on those directly supporting client facing groups. Rumor is they will actually target management (thank god finally).....specifically managers with titles that manage nothing and nobody. You can cut off four layers of that bloated middle management structure and it will literally not make a bit of difference. The company needs to be way flatter.
@eewf. No one would have any information on the amount or department except HR... for now. I'm guessing an email or another corporate meeting will happen soon. All we can do now is wait.
Has anyone actually heard anything credible like amount of people and which depts?
No doubt Denver up on the chopping block with the TX campus installation as well as 40+ folks. The hitt woman cometh. Take the package and go — place will su-k you dry.
@9mie I guess it's true. I've also heard 3rd quarter. That would be around September. I'm not sure which department will be effected.
Some advice to you new job seekers. If there was someone that you did wrong while at this company, I’d brokercheck that person, you don’t want to end up working for the person you wronged …😂
Some things just are not worth the fight! This company was definitely never worth it! Glad I left years ago. But I always check this forum because..l who doesn’t look at the accident at the side of the road. Glad I’m in a better place!
Based on information ive heard, it will occur sometime in q3 with a potential announcement before end of july so they provide the 60 day notice in line with the warn act
@8ykd. Yes, it is VERY true. Layoffs will be happening. Some workers are saying probably before the year end. Severance packages will be offered
Is this real; any proof?
@61mz. All that you mentioned...is happening now and within the last several months.
Remember layoffs are typically planned. If you noticed work being removed from your group you may be a target. Have you been asked about a process? Have you trained someone overseas? Have you noticed automation reducing your productivity numbers? All warning signs.
To “move on” who suggests everyone just let it go…..letting things go is what allows companies to stay corrupt and bully employees. Better to hold them accountable if you can. Did you know that many whistleblowers get a percentage of the recovered damages? For example, the whistleblower/s in the case that resulted in a $97 million in restitution are eligible for up to 30% of that amount. Letting it all “go” is often the wrong decision.
Summary:
"TIAA, a nonprofit financial planning organization for employees primarily in the academic world, and other defendants were sued Wednesday in North Carolina Western District Court over alleged employment discrimination. The court action was brought by TLG Law on behalf of a former business finance unit manager who contends he was wrongfully denied a religious exemption to the defendant's COVID-19 vaccine mandate. Counsel have not yet appeared for the defendants. The case is 3:23-cv-00381, Zeni v. Teachers Insurance and Annuity Association of America."
Zeni v. Teachers Insurance and Annuity Association of America et al (3:23-cv-00381)
Good. I hope more people sue these companies who fired people for standing up for their beliefs.
What’s the name of this recent case?
Looks like there is a case right now from one of the individuals exited for vax status. It just dropped this week. The individual is suing TIAA for violating his civil rights and not approving his religious exemption. Interesting.