Thread regarding TIAA (TIAA-CREF) layoffs

Every person has a choice. TIAA is a company of liked mind individuals. Now they are turning on their own kind.

@ezkm+1u6k7RRk I agree. And plenty of folks lied about getting it or only got the first one. As long as you did the Covid test once a week which no one could prove if you did or not, no one cared. So being fired for not getting one is sheer ignorance. If you’re gonna lay me off I’d rather it be for my performance, closing an office, or choosing not to go to a company with over 750k associates/contractors.

Point is that the Covid vaccine mandate was that was a voluntary layoff like people literally chose not to get one for whatever reason and got fired for it. Other companies across the globe required it so unless you found a fully remote job it made zero sense not to get one. Literally no worse than the flu shot or any other vaccine shot.

The people moving to Accenture didn’t have a choice in the grand scheme of things. Now they sort of do but the choice is probably clear to most to keep a job they know rather than try to find something new in a tough hiring market.

You’re still on the Covid vaccine kick? Don’t y’all come up with something new that requires brain power not repeating what fox told you?

Two years ago, TIAA fired employees over not taking a COVID shot. Conveniently and cowardly claiming they were a government contractor. They revealed who they were then and what they were capable of so nothing they do now should be surprising. Poorly run companies do unethical things.

What you do in this life, you will pay for in this life. It’s only a matter of time before the pendulum swings in the opposite direction. Karma will teach them all…

Now hearing this layoff/reallocation of employees will impact Denver, Charlotte, New Jersey, where most employees will become contract workers for Accenture. As the poster above mentioned, there will be 2 options for this group, take the job with the potential of layoff within first 12 months (Accenture is set to layoff several hundred employees) or refuse and get nothing = being fired not laid off.

Impact looks to be IT and record keeping related positions. This would be new news to the Denver folks who have only been told their office is closing and jobs are either eliminated or moved to Frisco. This additional piece that removes any option or severance from the employees will come as a shock to many.

Good luck to all…. your value to the company has been defined and the definition does not include value.

Imagine if the EC actually had integrity, servant leadership, transparency, and wasn’t greedy? This portion of the site wouldn’t exist. But sadly this isn’t the case. I know where TIAA can save $18 million immediately. Subpoena DEEZ

They won’t be successful unless you do it from work but they definitely are trying to find out who is posting her and subject them to disciplinary action.

What roles are being turned over to Accenture? Someone here knows, I’m sure.

Subpoena for IP addresses on what basis? Damages yet to be known? A company can’t just subpoena an IP address because it wants to. I would be surprised if The Layoff readily hands over that information anyway, because their a-s is on the hook for consumer privacy-related issues.

Not saying they will, but this why they are terrible managers. They think they are the smartest executives and should control the little people and their thoughts instead of running the business appropriately.

Even if it were possible, I’d love to see them try to get a subpoena:

“ Your Honor, we respectfully request a subpoena to obtain user information from Thelayoff.com, a tiny website where individuals have been spreading mean and hurtful rumors about us.”

And exactly how do you suppose they are going to get the OP’s IP address? Is that posted here? Because I don’t see it.

I'm not at all surprised by the EC trying to tie these posts to employees. This is their normal ridiculous and petty mindset. If they were instead focused on running this business properly, there wouldn't be so many posts calling them out on their fraud and obvious BS. To anyone on the EC reading this, no duh!!

They could compare the IP address you use here against the IP you use to connect to the VPN and likely match at least some folks up. But then what? It's circumstantial evidence.

There is no way to find the Anonymous person behind these posts. Sure if you are d-mb enough to use your work computer it's not hard, but if you use your phone there is no way.

And so everyone is clear, Accenture will keep you for the minimum amount of time required, and then move your job to India as soon as possible. This is a major cost saving initiative to the company because they don’t have to offer you severance as defined in the employment plan, and since you were now an employee of Accenture, you’re subject to their severance, which is probably very minimal. Sastry had his hands all over this plan and probably has a huge bonus tied to it.

Also SD and HR are reading every one of these posts. They have even considered trying to partner with this website or subpoena them for information on who is submitting this information.

@2auc+1u6k7RRk let’s not forget can they even hire people in Texas with all that competition, and the typical lowball TIAA offers, applicants - even those fresh out of college folks and they will accept an offer for more pay somewhere else in DFW area.

But, sure let’s layoff 700 or more and close offices leaving whomever is left in Charlotte, NYC, Frisco, virtual folks, and other cities to pickup the work without sufficient training when they already have full plates some overflowing still from the last few severance packages or layoffs.

As for your comment on Denver. Most folks will leave or retire on their own before being “exited” in as you said “days or weeks”. People already leaving putting or setting their retirement dates, company wide. They pay too much money on that lease downtown to let floors be empty for longer than they need to be. Trimming back in January saved money but they won’t re-consolidate floors anytime soon.

Can you imagine currently living in Texas interviewing at TIAA? Only to be onboarded while they are cutting thousands of jobs?

Let’s be serious, 700 isn’t even close to the number of jobs this contract with Accenture will impact.

Denver employees, be prepared. There is a large likelihood that your exit could be within days and or weeks….not months and definitely not years.

Once this is all said and done, will TIAA even have enough roles to put in Texas?

Forced Unemployment (aka “Retirement”) In Equality.

@thasunda is the CEO’s instagram handle. She supposedly was in Paris for the Olympics when the news about Denver was given. She has yet to address this news. Not once.

The 700 layoff target is just the start of things.

The firm that filed the class action lawsuit against TIAA wants to restrict the retirement side of our business from sharing client data with other TIAA businesses (i.e. Wealth). If we lose the lawsuit, you might as well close up shop for our Wealth business too.

Dump the CEO

Bain is helping TIAA cut $1Bn of OpEx. More is coming…

700 still seems kind of low. There must be over 10k employees. I am surprised the number is only 700 TBH.

@1fvq+1u6k7RRk
I heard a majority of these are for TIAA India positions.

Accenture does everything from back office stuff to customer service. I wonder if NCC will be slowly taken out as well?!?

A large number (upwards of 700) of TIAA employees to become Accenture employees, losing retirement benefits, bonus, and other benefits. No severance offered and no severance package at Accenture. Move to Accenture or you're fired. If you work on record keeping products for TIAA and you've not already been approached about staying with the company, then bad news - you're going. Announcement Aug 26.

Congrats, execs, on taking millions of $$$ to find ways to sc--w the little people over. You're showing those who stay who they are working for. When someone shows you who they are, believe them....

Can you explain this further?

Have heard the same confirmed by multiple, reliable sources

700 employees.... that's ridiculous. Which departments?

• Just like folks are being given the option to move to Texas or take the severance.

They should be present the same offer on the table to either work as an Accenture employee or take the severance.

Will this be communicated before or after the town hall?

Bad news keep coming.