Thread regarding TIAA (TIAA-CREF) layoffs

@tr Feb to July

How far back are they doing the investigation? Last 3 weeks? Last 3 months? Last 5 years?

If you want an hour minimum, here's what you'd get - not feeling well at 2 PM and want to leave early? Day doesn't count. Kid have a big game at 5 so you leave at 3? Day doesn't count. Worked back to back 12 hour days so you want to cut out at 1 pm because you're drained? Day doesn't count.

Until they say they're firing people for 6 hours in a day, every day, every week and every month, I'll just avoid constantly leaving at lunch time every day.

I don't want to be like other financial services companies where if you need to leave early unexpectedly, you lose credit for the whole day. That's just d-mb. But some people here are asking for that!

@ks people have been “rumoring” coffee badging tracking for months now, and even firing people for less than four hours. Both are true. I’ve also heard this myself. They have let go of enough people in the past two months to allow room for all Charlotte employees (or they are very close). Is figure if they announce the RTO right near bonus time, enough people might leave.

Who knows, but never hurts to just be prepared for it. If Jamie Dimon believes full time in office is the only way, then you can bet T Duck will follow suit. She’ll do anything to kiss his ring.

For the love of God somebody circulate this master list so we can know if we should be looking elsewhere or not. While taking advantage of the system is bad nobody should feel hostage to the thought that they could be let go at any moment or not. Should be a clear line of communication between HR and the employees of where people stand, what they’re looking for, and expectations moving forward. People at this company are good hard working family oriented folk and deserve better.

@js lol. The "5 day a week" rumor mongers are back with their "sources." Hilarious.

@ft it's posted on the intranet

CB was borderline unprofessional and rude in her response and demeanor, coming down on people like they're her children for asking a fair policy question. They'll continue to leave the RTO policy and controls in a grey area so they can be subjective about who they come after.

Just spoke a reputable source, that we are soon back to 5 days a week in the near future. Everything they’ve told me in the past has come to fruition, so I have no reason to doubt this one.

Oh well

@ft they mentioned terminations made. Said 2 hours a day isn’t cutting it and expectation is 3 days (minimum) and in office the whole day unless have something need to leave early. No set hours though. Just said use best judgement

Was the meeting recorded? Can anyone here summarize what they said? Did they acknowledge the firings and provide any hard set of hours? So many people in Frisco leave by lunch, I doubt they would fire everyone. Just wish they would give us a minimum hours requirement so we can know versus having to wonder if we’re in trouble or not.

@f3 the more jobs they can offshore and off load to India, the company saves 40% on labor, and c-suite executives get larger compensation packages the more they offshore.

This appears to be TIAA’s standard approach in practice: increase scrutiny and performance expectations, creating an environment that drives attrition through either terminations or voluntary resignations. From the company’s perspective, the outcome is essentially the same, a reduction in headcount without the financial burden of severance packages.

The company will likely assess how effective this approach is in achieving its workforce reduction targets. If attrition does not produce the desired results, formal layoffs may be the next step.

@e0 no one is forcing the "unhappy" people to work at TIAA. Do yourself a favor and look at our competitors and what their work from home requirements are. You will see that by and large they're nonexistent. We still at least have the option. I may personally disagree with it too, but it's the rule and still flexible until it's not when people intentionally try to be dishonest and work around it

This is unfortunately becoming a toxic work environment. It’s proven that happy employees = higher productivity. If we’re all miserable bc we have to sit in the office all day without the flexibility we were promised post covid over and over again…then this is no longer a place worth working for. I understand before covid people came in 5 days. This is a global company. All of our meetings are on Zoom. We don’t collaborate with many in the office almost ever. We sit at our desks on zoom all day. It’s different if you tell your employees to come in and we’re all working together on a project or something but to go in and sit on zoom all day when someone could be much happier to leave earlier and wfh…toxic

Lots of HR folks on this forum…

@d5 right, so team meetings and client calls should daily work around Johnny's day care pickup schedule- in the middle of the afternoon.

The world has changed though. For people with kids- daycares changed their hours during COVID, and they’ve never moved them back to the former hours.

Kids sports and practices have also changed.

It’s also not as acceptable to allow children to be home alone- à la latchkey kids- as it once was.

Finally- most of us are professionals, with advanced degrees. We should be treated like adults

They aren’t making a hard 8 hours a rule; that’s good news not bad.

They are saying swiping in and leaving is bad; that’s good news not bad.

They are giving employees and themselves wiggle room to decide when to crack down and when not to. You need to sometimes leave at 3? No big deal. You do it every day? Maybe that is a big deal. Just be normal like we all were before Covid and you won’t get fired for cause.
Of course you might get axed anyway due to cost cutting, but at least then you’ll get a package.

@aa Picking your kids up early from school is not a regular thing and doesn't prevent you from being in the office most of the day. Employees who can't be in the office two hours a day aren't leaving early because they have to pick up their kids.

@ad yes

Have they continued the investigation and still letting people go?

Hope you never have to pick your kids up early from school because that is specifically not allowed!