I think it might be. How is this not work related stress eligible for worker’s compensation? If you work in a hostile environment I’ve read that constant and impending layoffs are considered eligible. We just heard we’re moving not sure where... — read more
Topics regarding layoffs at State Street Corp.
Do not forget that State Street takes care of you: https://www.wageworks.com/statestreet/commuter/
Yup, it’s going to happen on 10/2. I know of one person getting let go, and it could be just one person here and a few there. But the information I have just acquired (big ears) is that it’s a guy on the 5th floor at 1 Lincoln. Sorry bro.
Moving to The John Adams Building on Tuesday. Anyone who is there now know if it is as miserable in there as I have heard it is? I am all for the change because I live on the South Shore and no longer have to take the commuter rail but I am... — read more
By December 2019 lots more cuts to come to VP and MD levels. They have a quota to meet with that 8,000 layoffs by 2020 and they are only 40% there, so between now and 2020 there will be huge cuts. But I hear the next round of layoffs is targeting... — read more
Perhaps now all the high ups will realize that being laidoff isn't so fun after all? They will learn to understand how it feels like to be in someone's elses shoes. Instead of judging someone's resume for having a gap on it due to layoffs... — read more
Merry Christmas and Happy New a Year.
Hearing that the Belfast and London offices got automated emails putting their status of leave before being told they were being made redundant, complete HR failure. They turned up closed the Belfast office, took everything away according to the... — read more
The great Executive Team Can't sell the clipper ship just yet...still have more large salary increases to get and more huge cash bonuses and share options to award themselves. Cut, cut and cut further is the executive team's plan to get... — read more
Looks like Ireland is next on SS hitlist for outsourcing, would you stick it out for the redundancy or run for the hills?
With cuts happening at various State Street locations both yesterday and the day before, I'm not sure if I should relax just yet or if there will be more today? Do we know if we are done for sure?
how big were the layoffs. thank you!
Hope it's me. SSC s—s, the worst employer in Boston.
I hear is going to be a busy day
Is in the horizon. He can’t right this old schooner. Her glory days were pillaged by many retired and former execs. They left the hull for the rest to row to shore if it even makes it. We can only hope for a merger but then the axe comes full... — read more
How about that share price eh? On the slip and slide for quite some time now, how long before it hits rock bottom...
Ron is presiding over a failing firm whilst sailing his competition yacht all over the world. Thoughts?
It makes sense that the next big one would be October. Give the people 2 months notice and then by end of December they will have a leaner workforce to make those layoff numbers for the new year.
No one can build his or her career here any longer in confidence. The truth is once someone is maybe feeling like it’s taking off In a good direction, the job may be eliminated or placed offshore. Pretty grim I guess. Greener pastures out there... — read more
Has anyone heard from legit source if this Wednesday is big lay-off day??
Truth is we were told in confidence, 6 years ago when my job was supposed be sent over, that these offshore employees Make less than 2.50 an hour and SSC doesn’t have to pay their health or 401k. So do the math. We can never compete with that. So, ... — read more
I remember when all the work was being done in the U.S , mgmt demanded 100% quality work be done. It was constantly drilled into our head, " State Street stands for quality work" Question is I find it funny how they allow Indian to do C - to... — read more
That everyone on here contact their senators about voting no on senate bill 386 that Lyndsey Graham is wanting. It is massive visas for many jobs that we hold going to India and China and bringing them here. They’ve destroyed the tech industry and... — read more
The hard facts are since the retirement of Marsh Carter, this company has been going down hill. Each CEO is more of a hatchet man than the next. Marsh Carter days were when employees here were valued, treated with respect, and seen as assets to the... — read more
Most of the technology is old and what is new is badly designed. Good luck.
A Very sad place that has k–led a once amazing place to work. No employee value and all they do is offshore our jobs and lay off in addition. No raises, cutting benefits constantly, and always trying to move people out of Quincy to the new building... — read more
Just wondering, if there was a union at State Street, a lot of this wouldnt be happening. What are peoples thoughts?
It’s getting really scary now. I think there’s going to be a mass lay-off it’s almost inevitable. My team seems to be running scared. Working tons of hours couldn’t even try to apply for a job all I have time for is sleep by the time I get home. ... — read more
So is the 60 days (i.e. 5-6 weeks) from notification to last day apart of your severance package? For example, if someone worked there 10 years for 20 weeks severance, would after their last day they only get severance for 14-15 weeks?
For all of you who think WFH is a soft perk, State Street receives a $2k per employee per year tax credit for this. Assuming 15k Boston employees, that $30M per year. Could be used to offset cutting us to the bone, but alas that’s a fools errand!
Effective 8/1 US Severance packages eliminating minimum weeks per job to just Years of Service. Previously a VP would get 14 weeks + 2 weeks per Year of Service. Now only 2 weeks per year of Service. That’s why layoff news is quite. Keep... — read more
“State Street is now aiming for 2,300 job cuts in 2019, it said. A spokesman told the Business Journal that the 800 additional cuts would come from natural attrition tied to the hiring freeze, not through layoffs”. So if you you think your next... — read more
From Boston Business Journal: "Following another weak quarter, State Street Corp. now plans to cut 2,300 jobs in Boston and other higher-cost locations this year, 800 more than it had previously targeted. The Boston-based company (NYSE: STT)... — read more
Anyone know what the current redundancy package been offered in Ireland is?
State Street is a great place to start your career whether you are new to the industry or making a job change above all before accepting a job offer ask about the high deductible Heath Insurance that may or may not be right for you regardless of your... — read more
Last week, State Street got hit with $95 million in fine for overcharges to clients(https://www.financemagnates.com/institutional-forex/regulation/sec-hits-state-street-with-95m-fine-for-overcharging-clients/). Got to wonder if more layoffs planned... — read more