Thread: TIAA-CREF outsourcing local jobs to India

http://www.9news.com/news/article.aspx? ... =339&GID=0

DENVER - TIAA-CREF's plan to send some information processing jobs overseas will impact its large local office.

The retirement company's 1,400 Denver-based employees were informed of the decision Friday.

A company spokesman said the plan impacts 70 jobs in Denver.

"Based on our experience, the goal is to effect this transition through normal attrition," spokesman Chad Peterson said. "Our commitment to Denver, one of our largest offices, remains strong."

TIAA-CREF described the jobs being outsourced as "transaction processing" positions.

The company did not say how many total jobs nationwide were identified for outsourcing.

TIAA-CREF serves employees in higher education and various nonprofit sectors.

"Any savings we achieve in the way we operate directly benefits our participants," Peterson said. "We are always looking for ways to reduce our costs while maintaining our high level of quality and service."

The president and CEO of TIAA-CREF, Roger W. Ferguson, Jr., serves on President Obama's Economic Recovery Advisory Board, according to news releases on the White House and TIAA-CREF Web sites.

Oh goody! More of our personal information will now be in the hands of foreigners. Anyone ever stop to consider that there is a possibility of identity theft? Of course, not -- not when it comes to corporate greed.

Originally Posted by vortex

Oh goody! More of our personal information will now be in the hands of foreigners. Anyone ever stop to consider that there is a possibility of identity theft? Of course, not -- not when it comes to corporate greed.

Exactly! What is wrong with these people? They don't care about US. And Americans should stop giving their money to people who don't care about them, whether it's a retirement system, a political candidate, a bank or a government.

Originally Posted by vortex

Oh goody! More of our personal information will now be in the hands of foreigners. Anyone ever stop to consider that there is a possibility of identity theft? Of course, not -- not when it comes to corporate greed.

Don't forget that some of our bailout money meant to prop up corporations so that Americans could get hired again also went overseas. That's just plain theft.

I blame the bailout mess on Congress. After Paulson came screaming the sky was falling on Sept. 15, our Congress critters acted quickly, with no forethought or consideration of the consequences and no strings attached.
I doubt that sitting in a cushy office processing data is another of those jobs Americans won't do.

Originally Posted by vortex

Oh goody! More of our personal information will now be in the hands of foreigners. Anyone ever stop to consider that there is a possibility of identity theft? Of course, not -- not when it comes to corporate greed.

Exactly my thoughts.

Just another example of the United States being run for the convenience of corporate executives and shareholders.

As someone said decades ago, the business of business is business. That only becomes a problem when government isn't doing its job. Right now the government - Obama definitely included - has bought into the world economy point of view.

Yes the cost of TIAA-CREF's services will be held in check. But we will pay for the loss of jobs in dysfunctional families and devastated communities. IMO this is false economy.

Originally Posted by vistalad

Just another example of the United States being run for the convenience of corporate executives and shareholders.

As someone said decades ago, the business of business is business. That only becomes a problem when government isn't doing its job. Right now the government - Obama definitely included - has bought into the world economy point of view.

Yes the cost of TIAA-CREF's services will be held in check. But we will pay for the loss of jobs in dysfunctional families and devastated communities. IMO this is false economy.

You're right vistalad, it is a false economy. It's also a collapsing economy. Too many people still don't fully understand what's happening to the United States.