Thread regarding TIAA (TIAA-CREF) layoffs

Temu running the company into the ground so Jamie can buy it on the cheap.

Three bad managers in a row, the last one Sara b, in charlotte was an arrogant boot licking piece of sh-t. And that is flattering.

I was going to stay with this company until I retired. I was proud to work for this company. But now I’m grateful to have the opportunity to leave with a severance package and some shred of dignity.

I will be forever grateful to this company for giving me the opportunity to start and grow my career, but things have changed and TIAA has decided to toss me onto the garbage heap.

My extremely specific and tenured knowledge will be lost. My team will eventually find way its way without me, but likely at a high cost. These costs are more than monetary and will contribute to a spiral of increased workloads, over hiring to fill gaps, and eventually more cuts to more tenured employees as the real problem goes unidentified.

I’m taking a risk and betting on myself. I might not make as much or get as much PTO as a new company, but from my perspective it’s time to take that chance. For those of you not directly affected my the relocation strategy, take a look around, there are other jobs out there (really there are! As long as you don’t believe every headline you see)

I have been with TIAA for over 20 years, had to apply for my promotion on my team, all other moves were lateral or a step down, never got a 5 rating (but a lot of 4s on the now obsolete rating scale) no raise for 4 years and counting.

My first boss here was a terrible micro manager and didn’t recognize/trust their staff of a really great team.

My newer leader is great but they overwhelmed and basically forced out my previous manager who was probably the best I’ve had here or anywhere else….

Survey day started today. Wonder how many liars or line towing boot lickers are here praising everything they know is bad/wrong.

I have been with TIAA for over 6 years, never gotten a promotion or a 5 rating, no raise for a few years now.

My oldest leader was a garbage human who manipulated my experience on an otherwise good team.

My newer leader is great but the company now su-ks.

People on different teams or departments might as well work for different companies cause the experience is so different from one to the next.

The culture depends on what site you are in and what the whims of leadership decides what happens there.

People who say that they are in control of the culture are full of sh-t. If you are at a good site then you might have good culture unless your leadership or team is cr-p. If you are at a bad site or team, or on what becomes a target site or team then the culture is trash cause the company stops caring about you and tries to push you out to not pay severance.

The culture is what you make of it. I have been with TIAA for 5 years. The benefits are great, pay is good, have gotten multiple pay raises and I am not over $100K salary. I have also got 3 promotions.

Yes, the scorecard changes year to year and you just adapt I have been a 4/5 every year. I have had 4 different managers and each of them have been different, but they all have cared about their employees.

I’m so glad I got laid off in January it was such a blessing. I work 10x harder now I’m self employed and I love very minute of it. No more toxic cr-p and scorecards designed to keep you at minimum pay. And not to mention my boss who was always playing golf or some other stupid sh-t. I couldn’t stand him I can’t believe he still has a job but hey it’s the old boys club at TIAA. Sanctimonious managers who really don’t know sh-t about anything. They think they are leaders but they are just sycophants and it’s really their management style ki-ling morale. Good luck all of you and thank you TIAA for letting me go.

I’ve only been at the company a little over three years. IMO, the “culture” is very authoritarian and opaque. At the top levels of the org, it’s very tone deaf and it trickles down to the L3 levels of the org. It’s also extremely bureaucratic - similar to the worst governmental org you can think of.

Not only blow the “culture” subpar but the company is having financial difficulty because of strategic decisions of leader’s past and current leadership. TIAA didn’t pivot and attempt to compete in the retirement markets when the Fidelities/Vanguards/Schwabs/etc of the world encroached on their market share and now TIAA is playing catchup and doing a poor job at it.

Because of this and other poor financial decisions, layoffs and a continued focus on “expense mgmt” continue to be a part of TIAA life. Employees making >$100k haven’t received raises in 2-3 years, and mgmt recently changed the variable comp (bonus) structure to make it harder to achieve targets and get full payouts.

The one bright spot is that below the L4 level you have some really amazing people. Unfortunately, you also have some really awful, folks as well. These people are typically the tenured people that don’t really add value.

A lot of these post talk about the culture and company declining, what specifically is it? I have a job offer, everyone has been there 5 years+ and seems passionate about the work and customers. What gives?

It would take a housecleaning of the top few levels of the org and many years to get this company back right.

The way it’s looking is, it’s going to be leadership failure after leadership failure. They will continue to cut staff guessing that that must be the problem. Eventually assets will dwindle and they’ll have to get absorbed by some much larger company that can make good on some of what TIAA has promised people.

Lots of people will lose, it’ll be you and me and retirees. The only people that will win will be the ones currently on top cause they will take the bag before the abandon ship.