Thread regarding TIAA (TIAA-CREF) layoffs

@1gd Bots, AI, and cheap third world labor is more like it

This company is being let by #16 on Forbes list of most powerful people. The rest of us are doing it all wrong

@OP Managements Goal is to replace us all with Bots, AI, and pole strippers eventually. I can see Roger Fergosen's coke bottle glasses lighting up $$$ signs. Cha Ching

@175 interesting. Not sure why would they downsize Denver when they just literally within the last month put up Empower logo signs atop all three buildings that didn’t have them before.

Either way it’s not a good time to be a call rep with any company with cheaper folks in Philippines, India, and of course now AI.

@cb I have a friend who was a Series 24 manager for Empower. She just told me she took a buyout from them. Good timing for her as she was planning to retire at the end of year. She told me the reason for the buyout was they were downsizing in Denver and opening a call center in the Philippines which will include registered reps. Hard for me to believe but the Internet confirms. I wish you luck but this industry isn't looking so good anymore. I'm glad I'm out.

I would be surprised that they don’t go back to it at some point but I don’t see them doing it until they can fix the hiring after the layoffs. Most companies are not at full time in office. Doing so will limit their applicant pool at the worst time to do so.

I have no doubt they want to, but unlike say Chase we don’t have people trying to knock down the door to get in with the company. I may not love the EC in any stretch, but I don’t see them making that decision until they can.

The way that blondie answered the question about hybrid work (“AT THIS TIME”) made me think it’s inevitable that they drop the hybrid work approach.

@fd watch the recording on the intranet? We all had to suffer on that call why not join the party versus asking for the cliff notes version.

I missed that Ask the EC meeting. Would someone mind giving me more context?

Is it really that frekin hard to comply or leave? My spouse has to do 5 days a week in office and 8 hours each day. They track IP address and badge swipe in/out. They get reports weekly, first non compliance, written warning, 2nd time you are terminated.

@cb what position at empower were you applying for?

@c8 hopefully. I’ve been trying to get into Empower for a while, long before the news of the closure a year ago.. Would be funny to be hired and supporting the newer TIAAs products with Empower. Love driving by those 3 buildings especially at night time.

TIAA should just try to lease a floor two from one of the Empower buildings. Would be cheaper to do and retain the talent. I mean now that the Empower logo is finally on the sides and we’re big partners with them, maybe they’d cut us a deal.

@ad Frisco has tons of illegals who will work for cheap wages and save T and TIAA tons of cash-eesh $$$

The recent studies show 4 days a week are more productive for the mind, body, and soul than 5 days a week. When TIAA shuts down Denver, many are jumping ship moving to Empower.

With TIAA It’s all about the metric du jour. They should pend less time worrying about days in office and more time worrying about Net Income. Not everything that can be easily counted counts and not everything that counts can be easily counted. A famous TIAA participant named Albert Einstein said that.

First comment was less than useless… hopefully mine isn’t.

So basically we can go in the office, login, get breakfast or a coffee, do a little work for 4-6 hours (or less), head home, and not work the rest of the day for 3 days each week to avoid these warnings and punishment up to and including termination. Meaning remote days we can do even less since we don’t get counted for that day.

OP is spot on. Being here 3 days a week is more important than the work we do, or how much we do, and how long we work evidently.

Talk about mixed messaging. Good luck finding fresh young talent in Frisco.

At least they said at this time we are not changing our hybrid policy but 3 days is a minimum. Interesting.

The in office requirement is worthless and has no conclusive scientific backing. However, it’s averaging 3 days over the course of 8 weeks and this has been in place for what 2+ years? At some point you need to just figure it out. It’s not that difficult it’s a company rule, an absurdly worthless one but one of the rules. Anyone with in office requirements are going to do the same.

It shouldn’t be so black and white, but the people who have flat out refused to follow it, has made it this way and ruined the flexibility for everyone else.

Blah blah blah. Work somewhere else.