I’m taking a contrarian view and I think we see a COLA announcement.
5 days in the office doesn’t make sense when inflation has eaten wages and employees are running out of gas on their commute.
6 replies (most recent on top)
As expected, pessimism wins. No COLA
…but yay, they’ll help me manage my nonexistent wealth starting next year for about 6 months before they usher out my 20 years of service, close my office, and lock the door behind me next July. /sarcasm
@cq maybe COLA for everyone but Denver and they let Denver WFH until their end dates.
No seriously I’m Denver and am impacted but it would be a nice thank you for all your service if they did provide increases for up to the next 11 months max per associate but somehow locked down our severance before the COLA.
Also it’s not that much money in the grand scheme of things. Talking 3-12k more per associate for around 650 people if their relocation numbers are accurate. Not everyone would be getting a full 52 weeks severance either. So not that full 3-12k per associate via severance either.
Considering they offered between 25k and up to 75k or more for relocation for 850 Denver associates…, it’s chump change. Also pending years of service and salary rate it’s basically between 10k to 200k of severance for each of those 650 ish associates not relocating.
All that coupled with saving a million dollars or more per floor for the Denver lease agreement plus the tax break in Frisco, if met in time… TIAA still makes out in the green. So yeah they can afford to pay Denver COLA if that is the plan for everyone else at TIAA.
Why would they do COLA before Denver closes? That will increase severance costs for the org.
It’s obviously a nice thought but is very unlikely given the situation in Denver.
I wish this was true. But am pessimistic about that. Like the second commenter how many years of inflation would they cover because most folks have been going 3-4 years without a COL pay increase let alone performance or job advancement pay increases.
After all the email for the TH said “focusing on YOUR financial wellbeing” or something g to that effect if I recall to get us to join the call in person or via zoom. We’ll see. Only time will tell…
I think they will do something like put some of our retirement money in those new secure income accounts being managed by Empower or whatever as guinea pigs which will be a freak show like other products they try and shove down our throats.
Covering how many years of inflation since we haven’t gotten raises in how many years?
🤡🤡🤡🤡