August 8 update: This is now confirmed.
This is unconfirmed but in the last few hours, two employees at TIAA-CREF have written to Consumerism Commentary to share the knowledge that workers in the the Charlotte, North Carolina office are being laid off by management at this very moment. The layoffs began on Monday and will reportedly affect 10% of the workforce.
There have been no media reports yet and no official word from the company. TIAA-CREF has been plagued with customer service problems for the last several years and changes in executive management during that time period has not solved the problems.
Many people, including public school teachers, have no choice but to invest with TIAA-CREF inside 401(k) and 403(b) plans.
The Charlotte Business Journal reported TIAA-CREF laid off 158 out of the city’s total 2,850 employees.
Updated September 17, 2011 and originally published August 6, 2008. If you enjoyed this article, subscribe to the RSS feed or receive daily emails. Follow @ConsumerismComm on Twitter and visit our Facebook page for more updates.