Thread regarding TIAA (TIAA-CREF) layoffs

I’ll bet they met to talk about the money set aside for salary and bonuses of the people getting laid off. Senior management will remind middle managers that all that money for raises and bonuses is discretionary and should be left alone for Senior management to reward themselves with bonuses and raises…..that’s how they enrich themselves in bad times…..they set aside money for the troops raises and bonuses….then fire a certain portion of them and keep that money in the bonus pool, which is skewed towards managers with bigger salaries. They did it all the time when I was there. If a rep was owed 100k in commissions and 40k in discretionary bonus and 10k in salary raise….but her director was tired of her attitude, they’d fire her and distribute that 150k amongst the directors and senior directors. It was like clockwork. Every fiscal year end.