I don't know the full extent, but at least a dozen engineers in the desktop area were let go. Seemingly at random, no major commonalities between them and it looks like the direct managers weren't informed beforehand. Just upper management picking names from a hat again?
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The Supreme Court of the United States already ruled affirmative action (DEI) as unconstitutional. East and South Asians (people of color) are actively discriminated. These DEI policies are actively creating new forms of racism against academically high achieving groups. Our CEO and her directs are lost, clueless, and unprofessional. If our CEO was average, none of us would be upset or questioning her, but our CEO is severely below average. She’s too worried about her personal brand that she can’t address us about these endless layoffs. “ Wokenomics is a powerful we-pon for CEOs, which they can readily deploy as a smoke screen to distract from greed, fraud and malfeasance.”
The people that keep silencing opposing viewpoints by labeling people racist are the real problem.
Agree with the last poster. T has brought out a lot of true colors in some people. What was it she said in the last Town Hall - if you’re not onboard?
Talking about Kickbacks, wouldn’t be surprised if there was an under the table deal to open up the new frisco office. Every other company in America is downsizing. This new office decision was made in or near year 1 of the CEO’s tenure. This was in the middle of a pandemic where we were still virtual.
Even during the tenure of Rodger, he said that he envisions working from home to stay for the foreseeable future and he was incorrect in bringing everyone back into the office prior to Covid when TIAA had a lax virtual policy.
The Texas govt is providing TIAA grants/money to build the office under the condition we hire/give jobs to Texas. We need to do these layoffs so we can rehire those roles in Texas. How else are we suppose to bring jobs to Texas?
Being against DEI is not exclusive to older folks or boomers. Our CEO is incompetent. Her direct leaders are incompetent. Our CEO was hired because of her gender and color of her skin. CEO’s don’t apply for jobs, they are recruited by 3rd party firms that companies hire to look for a replacement ceo. Seeing the lack of engagement that our ceo has in regards to speaking to us and holding townhalls, I’m willing to bet she was “pressed” into taking this job.
if you think upper management just picked names you are woefully uninformed. The first line managers had input and the first line directors made the final call. Any manager who tells you they were unaware is a flat out liar. They are just hiding behind HR so they are not perceived as the bad guy and don't have the guts to own the truth to their actions.
cannot talk about kickbacks as I have no such evidence. It is about the nepotism and incompetence of folks with power and influence (bought for participant money). When you hire consulting companies for millions of dollars and then their final product is a PowerPoint, it leads to suspicion. It is part of the revolving door of the elite 1%. You do me a favor and If your current job is in trouble, you will be a partner/executive here. Every executive from companies that they ran to the ground immediately finds a job. It is the fact of corporate America.
Can the boomers please stop turning this into a DEI thing, it detracts from the reality that we have an incompetent executive committee that only cares about their own personal growth and are driving this company six feet under to market themselves. Sastry gets a kickback for all the outsourcing to Accenture, that’s the problem here - it has nothing to do with DEI.
TIAA leadership, why won’t you OWN YOUR IMPACT as people’s futures are shaped by the decisions you make.
Do we need a TIAA BKWD event to look into the challenges, needs, and hopes of those who count on you?
We are here because the clandestine layoff crisis is personal for us and YOU addressing it is directly tied to our personal futures.
Quit moving TIAA BKWD and help serve the thousands of employees that keep the wheels turning.
If you are the 16th most powerful woman in business then prove it. Owning it doesn’t stop with the clients. It’s a WE thing.
Didn’t Earn It. Even if you did the entire movement brings doubt about your ability
The DEI policies should be blamed not because they have resulted in the layoffs, but because of the preferences all of the major companies now use while hiring. The diversity metrics and goals now often supersede meritocracy and finding the right people for the jobs. This is mitigated in the IT area because most IT professionals are Indian so they are by default "POC" and allow these companies to brag about "hiring a lot of people of color" without doing anything.
Has anyone seen any communication internally or externally on the details of these layoffs? Or there are only rumors at this point?
A word about someone here blaming it on DEI. There is No DEI in TIAA any more and it is what the leaders want you to believe. actions of leaders do not align with words, It’s disheartening to see hardworking individuals, including Black Americans, affected disproportionately during layoffs. Some of the leaders including the pretentious Yoda comes with the predisposition that all blacks are reservation aka affirmative action candidates. Additionally, the treatment of retiring employees should reflect appreciation for their years of service, rather than being escorted out like criminals. We must strive for better, more equitable workplaces that truly value all people.
Some of the people have a call with one of the EC member today. I am sure it is about what happened this week at TIAA should be an interesting call, not that they can be trusted with what they say. Will try and report back later with an update if any
It won't feel like it to them now, but after some time, those laid off will realize they are the lucky ones. That place does more damage to your mind, sprit and body than you know when you are in it. Only after leaving that horrid culture do you realize just how bad it it is/was. Good luck to all in your next journey as you leave that pit of a place behind!
Was a few more today from what I heard. Tomorrow probably the last group, possibly the largest amount one would think… at least until those rumored in May…
@2yvl+1rXyd9kY - Fewer now.
How many in marketing?
It looks like it’s over for now, no terminations today so far.
Company wide impact.. ironic this is the same week we held Client Event where we spent millions
This is all predicating the sale of their record keeping business to another company. That will reduce the need for operations people and IT support. Sale is coming mid year.
Everyone relax. Layoffs are not important. What’s more important is DEI and ESG. #Bidenomics #thusundanomics
It's true. They schedule a meeting and HR is there waiting for you. Someone comes to your desk while you're talking with HR and collects your stuff, then after HR there's a security guard waiting for you who escorts you to your car.
"although Nuveen only started today"
Any info on whether there will be more? What is the criteria?
It’s the entire company, although Nuveen only started today. There are about 150 layoffs in total so far.
Were the layoffs for Nuveen or TIAA? When will they both begin rehiring again?
I'm also curious if any Nuveen employees were in the list. I would assume the recent former-Blackrock hired were unaffected.
Does anyone know (actual information, not rumors or fears) whether this round of layoffs at the Nuveen IT is over? Any other real information (vs. the usual "it will get worse", etc.)?
Are they Full Time employees?
The worst is yet to come, in all of the years never seen this org in the state that it is in and all for what exactly?
The layoffs are company wide. I'm hearing Record Keeping Service (ROSS) is next. Announcement in May. Hope it's not true.
Are the layoffs company wide or just IT ?
I heard over 70 folks were let go yesterday.
As a leader I am secure in front of folks from his Kindergarten to his last job to be around. Trust hinges on praise. If you didn’t sing my praises to a friend, I remain wary.
Star Wars fans, welcome; others, exit stage left.
It was far more than a dozen. Cybersecurity was hit too
That’s what I heard as well.
hearing there will be more tomorrow