How will that work?
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Some facts to chew on as you think about what to do...1) per an article today, 500 not for profit colleges have closed in the past 10 years. This is accelerating - not a good thing for a financial company that caters to colleges. 2) the Denver/Jax closing isn't the last piece of big news. More coming - if you stay, you may not even be a TIAA employee this time next year even though you'll be doing the same work 3) The company financials are headed the wrong direction. This isn't a new development...it's a trend. 4) There's not a compelling value proposition for TIAA anymore. The core products that used to differentiate the firm have fallen out of favor with savers and are also now available on other platforms (Empower). 5) There are no guarantees in Frisco. You may move there and be let go at any time - a good bet if you keep a salary higher than the new folks coming in.
@2ihw+1u0hCXOA you are correct and not all those are from Denver/Jacksonville. Everyone will need to be on the lookout - be it in Charlotte, NYC, Frisco, India, and virtual associates.
Basically if your job can be sold to the other firm (which most can) think long and hard if you want to stay along with this company in a perpetual downward spiral, or move on from TIAA as the rumors are that severance will not be offered to those being “sold off”…
@2ihw+1u0hCXOA Is exactly right! This is not a decision you can make in isolation. Much more change is coming soon and options will be limited
Read the FAQS...The package information is located there..
In addition to the relocation options, people need to read the severance guidelines very closely, not base decision on what they are told.
In addition to the relocation, there are going to be around 700 layoffs coming in September. In some instances, what is deemed a layoff will be a reallocation of TIAA resource to Accenture. Clearly stated, if the role is reallocated to another company that works directly with TIAA and the employee refused to accept that offer, they will also be forfeiting any severance. There are 2 exceptions that would not apply to most based on the negotiations.
@1try+1u0hCXOA Im pretty sure there is an NDA wound that (not that it stopped people before…
Just go to the JAX section on the intranet there is alot of info there. Even saw a webinar zoom recording.
…Or don’t they can probably track us and terminate us for their egregious error of securing it to those who need to know with their utter lack of understanding of how SharePoint works.
Does anyone know what the package looks like for Jacksonville associates?
It's on the corporate email in the FAQ hyperlink. All necessary information is there.
When your offer for relocation is provided to you (if your job is being offered it) it will also indicate what your last day of employment will be if you choose not to accept the offer. That termination date will be dependent on your role and department. Some will be made to stay longer while others will be let go as soon as possible.
Seriously? You felt compelled to ask this “question”? How do you THINK it usually works when a company moves your job to another state and you don’t want to relocate? Give a think and I’m sure the answer will come to you.
Then one no longer has employment at TIAA.
Employee: What does this package look like?
Execs: ummm … crickets …
At this time, a package is being offered.