Thread regarding TIAA (TIAA-CREF) layoffs

I've worked at several not-for-profits and non profits as well as some big publicly traded corporations. When there are no shareholders or wall street analysts pressing the company to distribute out profits to shareholders, it is up to the executive committee and board to figure out where the money goes.....and more often than not, the money goes into executive and senior management compensation. The truth is that most people at the top of big non-profits and not for profits are full of cr-p when it comes to their OWN money. They somehow are able to rationalize obscene compensation by telling themselves and others that their work serves others. Its balogna...their work serves them. They take the piles money and sleep like babies in the Carribean and Europe.....and call themselves non-profits.

The last post should have said "has NOT had actual non-profit status for decades now". The fact it continues to circulate that TIAA is actually a non-profit is not only incorrect, but materially misleading. Surprised there hasn't be a lawsuit about that yet...

As a former CEO said, not for profit doesn't mean for loss. The whole not for profit tag line is bs and means nothing other than an accounting treatment (ps - TIAA has had actual non-profit status for decades now). Don't let the propaganda fool you, TIAA is just as profit motivated as Fidelity, Vanguard, Empower or anyother competitor. Beyond profit, basic survival of the firm is at stake. Stay tuned for more big changes forthcoming.

Exec comp is tied to financial metrics

Can someone explain to me like a 5 year old why the company is so focused on increased profits when it has a non profit charter?

This is definitely true that they are going for incentives and profits like all corporations. Look at Amazon they will automate and fire people vs tesla who fired after gigafzctory sales plummet.

One thing also impacts the teams are virtual and physical interaction are limited plus look at how millennial are not ready to visit office and most folks are just in office for swipes.

What are people? -T

@ugr+1tUvv9nM This company wasn't founded by or for the Gordon Gekkos of the world. Should we make money? Yes, however the divide between executive compensation and big budgets for their personal pet projects is coming at the expense of employees and customers. Which of our core values are you modeling for us here?

Gee wh-z, a company is trying to make money?!?! Evil I say, must evil!

Does this surprise you? This is corporate America. This is what companies do.

Don’t give your soul to a company because they will toss you out.

Don’t dedicate your life to your job. Give your time and attention to your family.

TIAA is just like every other large company in America.