Anyone have details, or is this all just guessing?
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@a1 They have attempted to track office attendance but outside of badge swipes they have not had a lot of success determining how long employees are staying in the office. Single offenders can be singled out and tracked but tracking on a larger scale has proven almost impossible for the organization. Adding your badge to your phone has definitely given them a boost in being able to see where you are working from and how long.
They will keep making life more and more miserable so the good ones leave voluntarily, and the ones that have no other job prospects in the industry anymore are stuck here. Which means if you don’t leave, you will be sitting here with a bunch of underperformers or just downright incompetent people, with corporate policies that are more and more restrictive. It’s not worth the few measly weeks of severance they offer. Take your skills (if you have any) and find a team and or employer who will value you. You and I are both not wanted here.
@f1 The company has done this twice. 2015 VRP (Voluntary Retirement Program) offered to those age 50 and over, with a certain number of years of service. 2020 VSP (Voluntary Separation Program). This one was very popular as about 10% of the company took advantage of it. Details from an online search: "In May 2020, TIAA announced a voluntary separation program offering buyouts to approximately 75% of its U.S. workforce, including Nuveen employees, to reduce costs during the pandemic. Eligible employees received 45 to 91 weeks of salary based on tenure, 100% of their previous year's cash bonus, and 18 months of health insurance, with a decision deadline in July 2020." Both of these programs were expensive to the company (especially 2020), so we're not likely to see them reappear anytime soon. The normal severance is not nearly as generous; so the company will likely just continue to use layoffs (and normal resignations). I do agree that a sizable number close to retirement would take advantage of an offered, regular severance package. I suspect the company figures that if you're that close to retirement, (or younger and unhappy), they will just wait you out and let you leave on your own; and avoid having to pay the severance.
I’d like to suggest a voluntary layoff program. There are people who seem
Like they are waiting to get laid off and are waiting for the severance. They do the minimum and complain all the time, especially on boards like this. Why not offer anyone that wants to quit to come on down to HR and get laid yourself off. Same severance as if they were laid off.
This way the angry people who had enough of this place and post all their negativity will leave, and those who want to stay and work hard will know they won’t get axed. the company will be in a better place.
They did this once (pretty sure within the past 5-10 years, does anyone here know more than I do?) but from what I heard the voluntary severance was so large that many good people took it. So I can see why they won’t do that again. But standard severance?
Ray, Claire, whoever reads this…cmon you can do it.
April is on deck people …. If they did not get enough turn over after bonuses paid out
There will always be layoffs because it’s the one lever senior management has control over to produce a better bottom line. Revenue less expenses. Reduce expenses better bottom line. It’s very sad but that’s it.
Roger also fired people. And so did the guy before him.
they will be focusing on bubble tea drinkers in the next round
Are they retroactively looking at past coffee badgers? Or just the ones actively doing it?
Haven't heard that
Heard that there was an annual layoff that recently completed, and that they will conduct quarterly firings of those who violate the in office attendance policy (coffee badgers, those who only come to the office for a few hours, etc)