Thread regarding TIAA (TIAA-CREF) layoffs

Got notice recently

I work in a very small niche part of the company. Very client facing, including many of the largest institutions. Also our work affects thousands of plan participants directly.

They decided to shutter the unit, with virtually no time to transition the work. Absolutely horrible business decision, and is going to wreak havoc for many important institutions, and participants will most likely be affected as well.

I didn't think they wanted to make the company's struggles so visible to our clients, but it appears they have no qualms doing that. This is going to exude weakness to these major clients. Unmitigated disaster in the making. So save small potatoes in the grand scheme of the company.

Good luck! If they are doing this where I work in the company, things are definitely not good.

by Anonymous
| 3671 views | | 7 replies (last August 16) | Reply
Post ID: @OP+1jwht813s
Comment! It's anonymous!

7 replies (most recent on top)

You are missed. It has definitely impacted me as a customer. I expected money in the traditional two days. Today's text from them says ten days. I am upset and would like to warn other seniors. AARP will probably be my first attempt. Any suggestions on where else to post?

by tomlechner
| | Reply
Post ID: @b8f+1jwht813s

Former TIAA here

I was downsized when Mickey O came on board to head up Marketing back in 2023. I’ll never understand why they hired her but that’s super past tense now. TIAA doesn’t care and they never will, which is a shame. In my opinion, the new leadership is short-sighted in their decision making. To OP, your talents will be valued elsewhere. Best advice that I can give you is to document all of your contacts, as it will come in handy. Your current circumstance is a classic case of “ it is, what it is”.

by Anonymous
| | Reply
Post ID: @tr+1jwht813s

Guessing Actuarial-related.

by Anonymous
| | Reply
Post ID: @ne+1jwht813s

@d2 the damage will actually be immediate and in the very short term. The next 12 months in particular will be very difficult. All knowledge on the work the unit does and it's expertise is being eliminated. These are professional services requiring a large amount of learned knowledge that is quite esoteric.

by Anonymous
| | Reply
Post ID: @ea+1jwht813s

The L3 decision maker will get a huge bonus for taking this action and may no longer be around when the long-term damage is realized.

by Anonymous
| | Reply
Post ID: @d2+1jwht813s

Could you share what role/part of the company you’re in?

Thank you and good luck to you!

by Anonymous
| | Reply
Post ID: @cj+1jwht813s

Yikes. I know we will miss you and your team. Good luck with your future endeavors.

Fingers crossed I am out of here soon - on my terms, rather than wait until my end date in 2026. Is almost rather have zero notice of a layoff than 23 months worth, but I also feel your pain having seen multiple layoffs over the last 10 years compared to my tenure before it.

I have seen some companies hiring in Denver and Charlotte for similar jobs we have at TIAA so the market is looking better. I had 3 interviews recently and one was basically the same job I do at another firm.

Job market outlook is definitely better than it was 6-12 months ago when they started the Denver and Jacksonville news.

by Anonymous
| | Reply
Post ID: @a1+1jwht813s

Post a reply

: