In the realm of stocks, a tale unfolds, Of NTRS, once vibrant, now feeling the cold. Its price, a star that once brightly shone, Now struggling, faltering, feeling alone. Investors hoped for gains, their dreams set high, But alas, NTRS... — read more
How bad will Q3 2022 Earnings be on October 19th?
All asset based fees will be hit, which is a leading indicator of layoffs
Stock falls to $72.14 from 52 week high of $113
...you know what this means...Get prepared
Do you get paid for unused time off?
Leaving the company soon. Anyone know if theyll pay me my unused pto?
This company has changed a lot
Been here just under 18 years. NT is nothing like it was over 25 years ago, layoffs every 1-2 years, they work with Boston Consulting Company, morale is awful and more cuts happening. I am in same boat as you, looking for an organization that is... — read more
Northern Trust Good or Bad
Ok so the company I work for within this industry is FULL of non stop complaints, issues and frustrations of the company on this website. What’s the deal with NT? Why’s there no one complaining nonstop on here??? Do I work for the wrong company?... — read more
More cuts probably coming
Things are not looking good at NT or the banking sector in general. I think we're headed towards another major round of cuts within a month or two at the latest. Usually, I wouldn't be that worried, I know my worth and I know what I can offer to... — read more
Our turn is coming
Be prepared for RIFs, every other company in our industry is having them.
401K Benchmarking Exercise
I currently work at BNY Mellon. Our CEO recently announced a change to the 401K plan. Currently our company match (max 7%) is implemented each pay period. Starting in 2023, the match will be paid at the end of the year (actually, three months after... — read more
Any word on bonus pools this year? In bad market years past it has not been pretty.
Taking a 2nd Job online to hedge layoffs? "Overemployed"
Overemployed is a taking 2 remote full-time jobs to diversify income streams. https://overemployed.com/ https://www.reddit.com/r/overemployed I know people that have been doing this for years
Time to Unionize at NTRS to Stop USA Layoffs? Protect your jobs or ELSE!
Keep Jobs at home – Tell NT/B3 and politicians that >75% of bank jobs must stay in USA The automobile industry is required to have 75% domestic content under NAFTA. Should US-based banks also be required to keep 75% staff in the USA? (Yes) If... — read more
Are You “Quiet Quitting” in response to job insecurity and dissatisfaction with bosses?
Quiet Quitting is the intentional employee dis-engagement from the workplace, doing the minimum to get by, lacking all enthusiasm for the company and its “mission”. U.S. employee engagement is falling, according to Gallup data, but Gen Z and... — read more
Will Employee Monitoring Software identify YOU for a layoff?
Everything you do on a company PC can be recorded, like looking at this page. This info can be used to score the most/least active employees and can help identify those for termination. This software is best for tracking activity or quantity of... — read more
Fiduciary Lawsuits Raise ESG Governance Questions
The MSCI ESG Investor Snapshot on NTRS, dated May 31, 2022, noted Northern Trust client lawsuits under the category of Recent ESG Controversies. Client lawsuits raise the question of whether NTRS Governance standards & practices fully meet legal... — read more
Falling Q2 2022 ROE will forecast layoffs. Q2 Earnings Release Date is 7/20/2022
If the Q2/Q3 2022 ROE falls below 14%, layoffs are forecast by late 2022 or early 2023. NTRS layoffs in the USA typically increase as the ROE trends downwards. For example, ROE fell below target before the major layoffs called "project excellence"... — read more
Does NT India have more jobs than NT Chicago?
NT India has 5600+ jobs. How many jobs in Chicago? About 4000-5000?
Will Citadel leave Chicago, causing layoffs at Northern Trust hedge fund services?
Ken Griffin expressed concerns in an interview with Bloomberg News. “We’re getting to the point that if things don’t change, we’re gone,” Griffin told Bloomberg. “Things aren’t changing.” The Citadel concern is shared by many IL companies -- costs... — read more
2012-2021 Exec Pay of $295 million exeeded the $250 million "Value For Spend"
www.Execpay.org reports "Top executives at Northern Trust received an average $5M per person in annual compensation from 2006 to 2021". 2012-2021 NTRS Exec Pay of $295 million exceeded the $250 million "Value for Spend" plan. From an ESG... — read more
Will the end of "Environmental, Social and Governance" (ESG) investing Hurt NT?
ESG gurus just banned Tesla for not being ESG enough while Exxon is OK. WTF! NT is very exposed to ESG indexing... but when investors realize that ESG is leftist BS they may exit these strategies. They should. NT does not have the economies of... — read more
Northern Trust to lay off over 1,000 employees
We knew this was coming, and finally it's here. Over 1,000 people will be laid off by Northern Trust in the following three years. Frankly, the way things have been going here for the last while, i'm surprised the number is not larger. Damn, it will... — read more
How Are Things at Northern Trust?
I've been in some initial discussions with Northern Trust. Is it a good place to work? Any long-term flexible work arrangements for some roles?
NT Insiders sold 355,000 shares for $41 million at average price of $117 since 2021
Insiders avoided $9 million in losses by selling ahead of the 2022 decline. "Our core principles —Service, Expertise, Integrity (& insider trading) — have remained constant since our... — read more
CEO sold 145,000 NTRS shares in 2021 for $11.2 million. Leading indicator?
"The boss of Chicago's largest locally headquartered bank cashed out more options in May and December than the number of shares he currently owns." December 13, 2021... — read more
NTRS Stock has fallen to $91.68 -- about the same level as June 2017
NTRS close on June 17, 2022: $91.68 NTRS close on June 9, 2017: $91.75 More sales and profit would help...but growth is slowing so that leaves layoffs
UBS Bank Analyst Brennan Hawken Forecasts: "Some Will Be Purged"
Brennan Hawken forecasts bank layoffs coming. Is it just a coincidence that he covers NTRS for UBS? June 1. https://www.businessinsider.com/wall-street-hiring-freeze-layoffs-investment-banks
Correlation between falling asset prices, revenues, ROE, and layoffs?
Layoffs typically increase as ROE trends downwards. And falling asset prices cause variable fees to fall. So, does the 2022 bear market point to NT layoffs? What is the correlation? The NTRS Q1 2022 ROE of 14.2% was in line with the target range... — read more
Over 28% of NT global jobs now in India -- over 5600 "partners"
"The Northern Operating Services Private Limited (NOSPL) was launched by Northern Trust in Bengaluru and Pune in 2005 and 2016 respectively. NOSPL combines the Northern Trust heritage of market-leading products and services with a highly dedicated... — read more
Starting a job with NT next month and they’ve asked me to bring proof of vaccination. I have the first dose but have not gotten either of the boosters. Can anyone tell me what Northern Trust requires as far as vaccination goes?
Layoffs in US and hiring in SE Asia driven by massive international wage gap
Financial analysts at NT Bangalore report on Glassdoor that annual compensation averages 335,000 indian rupees ($US 4,400). This is less than 10% of comparable Chicago wages. NT can hire 5 Bangalore analysts for each Chicago layoff and still cut comp... — read more
More US layoffs coming in 2022: Many WFH US jobs now headed offshore
The WFH era for US employees is now threatened by increased offshoring to cut US costs and to follow managers that are offshoring as fast as possible. NT has offices in about 20 US states but already has a network of 11 offices across Asia-Pacific... — read more
Over 57% NTRS jobs now offshore (as of 12/31/2021, SEC FORM 10-K)
SEC FORM 10-K For the fiscal year ended December 31, 2021 Page 15. "Northern Trust employed approximately 21,100 full-time equivalent staff members as of December 31, 2021. The regional breakout of our workforce is 43% North America, 39%... — read more
2021 layoff/severance charges totaled $55 million -- Q4 2021 Earnings Call
Q4 2021 Results - Earnings Call Transcript. January 20, 2022 Page 7. ..."the current quarter included $9.5 million in charges related to severance and a pension settlement, while the prior quarter included a $6.9 million pension settlement charge. ... — read more
Did "Value For Spend" deliver results? Is "Value For Spend 2.0" Coming?
Source: NTRS Q3 2017 Earnings Call October 18, 2017 (BB speaking) “Now turning to Page 10, as Rick previewed, we would like to spend some time today walking you through a focused expense management initiative that we have launched this quarter which... — read more
Laying off high quality employees
I have a good friend who was recently laid off after many years and multiple promotions. This is a "good old boys club" and layoffs are not being done with any attempt at fairness - it's who you know and who will cover for you. Also many new "sharks"... — read more
The days of ethical practices at Northern Trust are long gone. Today it’s a pit of vipers stabbing each other in the front and the back. I truly feel for those few good souls left standing while Mike O’Grady engineers the sale of the company... — read more
It has begun.
Layoff Updates for Northern Trust - June 2017
Do you have any updates about rumors on Layoffs for NT for June and July 2017. What's the likelihood they will have job cuts again and if you know, I know it's just a rumor for now until it's published, what levels will be affected. How about... — read more