TIAA's loss is Empower's gain.
TIAA filed letters to local and state officials last week under the federal Worker Adjustment and Retraining Notification Act, or WARN Act, saying its latest 31 job cuts in Denver will begin Dec. 1. The round of layoffs will not include any positions at its Broomfield Data Center, at 11525 Main St., the company said.
The T. Brown Duckett mess continues.
@3mw I see your point. But from a business standpoint they don’t want to pay anyone severance. Just like the tiny relocation amount offered - they didn’t want Jacksonville or Denver to relocate. For anyone that did relocate they may be gone within 3-18 months anyway.
They hope people get so fed up and post externally for another job or resign/retire.
My advice try to tough it out as long as you can so you can “stick it to them” by being paid a severance. Regardless if it is 2 weeks or 52 weeks (presuming thy don’t chance the current severance policy).
@3d5 it’s pretty sad that don’t want to budge at all to give Denver volunteers earlier end dates.
HR could post/fill roles faster with that yummy fresh young talent in Frisco the SEVPs salivate over. Plus pay less in severance/bonus.
Most folks have to wait nearly 2 years from the announcement. Some being asked about extensions… but no one being asked if they want to leave this dump earlier. Must be pure agony for all of our Denver colleagues.
@3cv you’re funny… old enough to have a generous severance offer from TIAA … But not old enough to draw on retirement…
TIAA should offer Denverites the option to end their tenure earlier.
Doesn’t help that job market is weak (even Walmart) and other big FinTech companies (like Empower) are literally offering up to 35K less than TIAA for the same job - if they have one or a decent enough one to apply for to begin with in this country.
@3bn time for you to retire and start drawing on your pension, 401a, 403b and Social Security. You can always apply to be a Walmart Greeter if they are not laying off. It's too bad T. Brown Duckett decided to close Denver. It's a big loss and a decision which has cost the company $250M and a lot of talent loss.
@3bj
Haha. Too funny. Empower has jack $#! +available. Has had nothing for me (or roles I am overqualified for) over the last 15 months. Accenture is a big no for me. It would have been different and better to be transferred there with everyone else versus join them now. No way it would make sense to leave now for them losing severance.
@3b8 have you looked to see if Empower is hiring ? Can you get some AI programming training so that Accenture takes a look at your resume ?
Wish I could volunteer to have my date moved earlier to 12/1. July is so far away. Market su-ks. Would be nice to get a head start and have the month of December off including the holiday week for once in my very long year career here. You can keep my 1 and a half bonus versus paying out next year and reallocate to those staying here and let me me out.
@OP this is not news. The state Warn notice can’t go out until at least 60 days prior to the end date. You gonna comeback here with this same “breaking news” on January 5th for the March wave? What about May 1st for the July wave…
Also how is this Empower’s gain? There are very few equitable roles at Empower in Denver for current or soon to be laid off TIAA employees and has been this way since the office was told of the closure in early August 2024?
I know because I have been looking at them and a few others since we were told. Most of which I am overqualified for some are in areas I don’t want to work in.
Empower will hire some does NOT want to hire all that many TIAA associates since TIAA is a practically laughing stock in the industry.
@OP This is not new news...it is required for the wave layoffs in Denver for the complete location closure by July 2026...