Leadership is questioning the need for all the open positions, so good luck getting headcount anytime soon.
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@ej
What scary times we live in when math doesn’t math at a financial services company. They can’t even get our RTO average correct consistently. Perhaps T wants that tax incentive all to herself.
Was also thinking. The company was literally willing to pay a bare minimum of $18-20M to Denver, Broomfield, and Jacksonville associates to move to Frisco (with at least $20K relocation each) probably to be a “wash” with that tax benefit.
What they didn’t factor in was between 80 and 90% of people NOT taking relocation. Many have long tenure and now that relo package amount will be closer to triple or more of that tax benefit number to payout in severance.
This isn’t the year 2000 asking folks to move from NY to the new Charlotte office. Or 1988 asking NY to move to a big up and coming Denver city office. People will say no. Far too many people took the VRP in 2015, and following VSP and others after that. Who would take either less money than a severance payout or a relocation amount that barely covers the U-Haul expense to move to a new city in this day and age with this companies struggles?
Make it make sense!!!
@eg The question is why has TIAA accelerated hiring? Frisco is understaffed relative to its total capacity (by about 65%). People are being forced to relocate to Frisco so TIAA can tell the State of Texas they’ve reached the contracted number of 2000 jobs “created” so they can get their $18mm grant. A company with billions in revenue is concerned about a ~$20mm grant? Math ain’t mathing…
This post is old news and no longer true. There is constant hiring in Frisco and Charlotte. I just helped complete interviews for several departments...also several of my peers have just received new job offers...
Hiring has been difficult in Frisco from what I’ve always heard due to location and not offering competitive salary’s. Now you can add in that the company culture has been lost and no one knows what the actual mission, we have decimated two major reasons people wanted to be part of TIAA.
If you read Fortune Magazine or see their updates you can determine what we are going to be doing in the near term as we track or late follow exactly what the majority of CEOs surveys say. We are not a leader in this regard. We’ll treat AI like everyone else and expect it to solve all the world problems while not accurately accounting for the hallucination risk that is increasing as it becomes more advanced. It will still require people who know what they are doing to not have issues.
Our tech products normally hallucinate thinking they’re good anyway. I’m not marginally hopefully AI will do well enough to cover workforce hiring giving the complexity of the work. Which has been a self forced error by making our product offerings choose your own adventure.
Figured this would happen. They won’t even replace us in Jacksonville or Denver. Good luck Charlotte and Frisco. Company is going to revert to the tried and true, repeated and always failed motto of “do more with less”.
AI won’t save this company anything - MYGAIT like other recent failed initiatives (from lean, to Nuveen, to Bank, to robotics) is half baked and limited to an only part of the company. Hard to tell what AI can do when only 1/5 of the company has access to it.
AI can easily replace Temu's productivity
HA! The company is doubling down on AI when they couldn't effectively roll out the simple calculation of conditional rolling averages for counting badge swipes. What type of dr-gs are these leaders on and where can I get them?!
Yup, people leaders had a town hall with Temu CEO, who surprisingly actually showed up. She mentioned that they don’t want to hire people when they aren’t sure on how much productivity will come with MYGAIT. I would honestly expect more layoffs either by EOY or start of next year