@mb i don't like trump but now more then ever he needs to sign and executive order to tripple the tax on American companies outsourcing labor to India, Pakistan, Romania & Sri Lanka. Only way to stop this self imposed disaster and a FIS Redux Part Deux from happening.
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Years of nepotism and poor leadership - glad we get to watch this place implode!
Of course it is about money. By shipping it to a service eliniates cost of benefits ie: medical,401k matching, rental space.
"@fj 100% agree. Watching 95% of IT jobs migrate to India is a massive blow to American employees. The landscape has completely shifted."
@j5 we'll someone has to fire 150 people. It might has well be HR. What I don't understand is why we have to ship all these jobs to Asia. To people who know absolutely nothing about us. Why fire Americans and hire Inidans ? is it all about the $ and greed ? How are they can to learn everything about us in 9 months. It is impossible and there will be massive client errors costing tons of big plans. Just watch. Like Yogi Berra said: "I call it like I see it."
Funny how they're keeping HR and their merry band of liars, racists and con artists.
no downsizing from Capital Management or field sales and those are the 2 weakest areas this year. Capital Managment this year need to get rid of 25 people and turn over everything to Blackrock who can actually drive alpha on these funds
I am getting laid off in 6 months. I met with my supervisor today. he said Accenture will be fully functional in 9 months. He said it was BS and explained that even after two yrs of prep work of moving to FIS, it was a collassal disaster. I told him that Mutual of America is naiive and full of S-H-I-T and is getting conned. I also told him that is shameful that one the eve of the nation's 250th birthday shipping over 200 jobs to India was treasonous AND it really shows how much the firm has NO Confidence in its own hard working employees. To train my own Indian replacement is fully BS !
@b2 did the field Executive EVPs and Regional RVP's get canned ? Many of them can't sell and should be the first to be let go.Company has got to start holding those clowns accountable.
Both Accenture & FIS are laying off thousands of people & they are attempting to cut hundreds's of millions of dollars. Insiders at TIAA state that Accenture runs behind on most projects & there have been many delays, errors, cost over runs and missed deadlines. That and the 12 time difference & cultural barriers have created angst amongst many on the Executive Committee at TIAA. Once they inked the Accenture deal, it has not been going smooth & many large clients have left. Cybersecurity has become a huge concern with many Indian & Pakastani nationals have access to very sensitive PII.
@b2 yes. Donaldson, Greed, Festog, Loughery, Severin.
@dr what an awful and dispicible take.
@d8 Better than being let go without any notice. At least this way you have time to look for a new job. And you still have the choice to leave now if that suits you better.
Everyone will be better off. MOA is not the same as it was. The sooner people realize that the better. Move along folks. Move along and have a better life. And no. No executives will be cut. Ha. So funny right? Some things never change. The blood su-king money su-king employees who produce no real value will remain. The company will not cut “buddies” or “Fwb”
@a6 i was told that we'll need to train our replacement knowing your job will end. that is like burrying your mother or having cancer & no one will treat you. to quote the late great Don Imus. Awful. Just Awful. AWFUL JUST AWFUL !
@b5 there never were any Promises to Keep. it was all a hoax.
@a6 Captial Management is doing awful & sales are way down this year. Time to let those m'fers go too.
@b2 i believe only a couple. the layoffs haven't officially been communicated yet. that is coming & believe the company will need to provide a WARN notice this time
I retired a couple of years ago and my brother is at TIAA in Charlotte. here is what he told me about Accenture:
Issue is Accenture took too many folks who know the process but couldn’t improve it and kept doing it for many years the same old way. Leaving behind most of the teams that could improve.
Sadly… They should have taken many more folks that know the systems and the processes and those employees who know have to drive and faciliate change versus using their own business improvement people and trying to get them up to speed. From what I hear it is a nightmare for Accenture employees and same old same old for TIAA turned Accenture employees.
But TIAA Execs don’t care and didn't listen and would rather pay millions in severance versus keeping knowledgeable and skilled workers who know our backwards obsolete systems, processes, databases and reporting.
I can see Mutual of America falling into the same trap. Just keep best employees who drive change and innovate, get rid of the poor producers, and THEN PROVIDE THE BEST AI TOOLS like Agenic Claude Code or Gemini to your existing high performers whill use AI to implement. W/MoA farming this out, people from Sri Lanka will take 2-3 yrs to understand our systems. It will be a disaster in wake.
He also said that Accenture has laid off tens of thousands of employees and is slashing like $850M.
Accenture CEO Julie Sweet told analysts that the company is “exiting people on a compressed timeline where reskilling is not a viable path for the skills we need.” She further added that the company will quickly align its workforce with client demand for AI-driven solutions. This means that Accenture may will have let go off some more employees who cannot be retained at that time.
Mutual of America Executives just got su-ked into to a program which will ridden with delays, cost overruns, while ignoring talent right in the good ole USA
What A way to say a company has no confidence in its own employees. wow just wow
@aj can anyone recommend a good resume writer in the Boca/NYC areas ?
@aw Are you saying there are no more Promises To Keep?
IT is literally one of the darkest days in it's 81 years. Black Wednesday is what they are calling it. Selling out of American jobs.
And now, the end is near
And so I face the final curtain
My friend, I'll say it clear
I'll state my case, of which I'm certain
I've lived a life that's full
I traveled each and every highway
And more, much more than this
I did it my way
Were any executives laid off?
it's offfical. final nail in the coffin for Mutual of America. Morronarity's last hurrah. Dismantled the field offices. Lead the charge to FiS. Now destroyed AMERICAN jobs to be shipped to Romania & Pakistan. Clear out the deadwood. All to save $8M per year. The errors themselves will cost $20-$25M in client defections & clients alone. It's a dark, dark day for the Spirit of America. The true "dea-th" of a Salesman.
Do we know which departments specifically were laid off?
Time to update the resume!!!
Someone said to me 10 years ago, or whenever Greed and Festering shitbag took over. that eventually the company will be only sales and Cap Mgmt. Welcome to the future. This did not have to happen. Sad.