Or, it'll be all milk and honey in 2019.
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Topics regarding layoffs at State Street Corp.
The move is globally to low cost area not only India and Poland. Impacting not only US but also EMEA and APAC. State Street is about to open a pandora box sooner or later.
GOOGLE? Can everyone have the wherewithal to rally for higher wages for regular employees and better conditions without fear of layoffs? Where’s our senator? Isn’t she good at protesting? Smh
Post any information about potential or actual State Street Layoffs in 2019?
Anyone being asked if they or anyone on their teams want to go part time?
State Street's problems have nothing to do with the "globalist" vs "nationalist" debate. If only it was that simple.... The company's stock is down almost 30% YTD. Far more than the declines in the stock prices of bank of NY, Northern trust or JP... read more
JH “Beacon continues to deliver significant savings and we have embarked on new productivity initiatives to achieve greater standardization and globalization of our operations and services.“. Not hard to read between the lines there now is it...
That’s a huge loss in share. Not good. Not good. Any pensions being renegotiated? Well if not they should be. Lots of blue chips do that to cut costs. Wake up Tick tock
Rumors are flying that part of the staff at SSGA will be laid off. They are now under the management or lack there of former GE staff. Again aquire/merge and layoff!! Glad I dont work there and recommend anyone climbing the ranks be aware.
It’s official now, State Street is purchasing Charles River for $2.6 billion. No surprise there, as the acquisition was already announced earlier this year. Don’t wanna get into the discussion whether SS paid too much in this deal, as it was... read more
As the press release states, the financial results for the third quarter are to be released on Friday, October 19, 2018, at 9:30 EDT. Think it will give us some sort of picture of where we stand. All of the details are in the link:... read more
State Street opened a second new office in Abu Dhabi on Monday (Sept 10) expanding in the United Arab Emirates as it eyes growth prospects in the Middle East region. Only a matter of time before layoffs are used to fill positions over there.
From what I can see, September 6 rumor turned out to be false at least where I am. Unless I am missing something? Where there some layoffs somewhere else at State Street that I didn't hear about? I think word would have spread by now if that were the... read more
Hi Everyone, I just got a job offer from State Street Atlanta Office. After reading all these posts about how SS is a sinking ship and there have been several rounds of layoff across the board. I am not sure if I should step in. Any Thoughts?
Anyone hear anything about 9/6 being another lay off day?
Apparently Aug 2nd will have some layoffs. Not sure which areas Anybody have more info on this?
Bloomberg has an interview with the top guy. Cuts will be at the bank not CRD.
State Street truly is a rotten company to work for. Its mainframe system harks back to the 70s and its Management teams stink as populated by yes men. If you are looking for a job and have 2 underway pick the other one than State Street. If you... read more
Wow the staff in the Quincy offices is at least 50% people from India.
I got laid off a few days ago at State Street Boston office along with five others at HR meeting room. I'm truly sorry this happened to you. Any chance we can get some more info on this? Anybody else knows if this was a one-off or if we can expect... read more
Crap company that can't think of any other way to survive other than to cut costs by outsourcing as much work as possible to Bangalore. Those of us dealing with India know that much of their work is barely acceptable, but I guess that's good enough... read more
What's the latest on layoffs? Lately I've been feeling like everything is too quiet, like calm before a major storm. I could just be paranoid, but after all the talk about possible additional restructuring I've been in a constant anticipation mode... read more
In certain teams about 50% of employees accepted the (not very good) offer and will leave. No surprise when you look at the completely incompetent management layer. Easy decision! Take the money and run!
Here’s what SSB’s 2017 Annual Report says about restructuring: In connection with Beacon, we announced in 2016 that we expected: (i) to incur aggregate pre-tax restructuring charges of approximately $300 million to $400 million beginning in 2016... read more
Anyone else hear that they've put a freeze on hiring onshore workers and anyone that leaves will have their job opened in a cooresponding low cost location.
The reality on Main street is now coming home to roost on Wall Street. All this BS about a strong economy and lowest unemployment ever is 100% lies. Stock markets can easily be manipulated by stock buybacks and the Federal Reserve printing trillions... read more
Hope you're ready. No one is safe, especially top management.
What happens to jobs at State Street when the market crashes? And then of course there's your nest egg, which will disappear as well. Amazingly, practically nobody has even considered these possibilities. Well, it's time to start considering them... read more
So the narrative event arrives, which will be used to explain why the recession we're in happened and led to the market crash which is coming. Oh yes, you all believe markets can go up by double digit percentages year after year with no crash because... read more
And yet I didn’t get a bonus or a raise. But I sure and happy I have job. Don’t you know. Sick sickening disgusting despicable greedy padding his retirement pension no less. So how much will the replacement ceo get? No wonder why we don’t get raises... read more
Maybe this will bring back normalcy to finance and get rid of the stranglehold. SEC just needs to have more teeth and action why should we suffer
This company has a lot of negative energy and bad karma. People are back stabbing, vicious, self serving because it’s rotting from the top down. The culture at STT is kill or be killed. Great morale booster for the employees. (Sarc). This place needs... read more
A contractor PM in statestreet bank europe was escorted out by security today. The female MD in sales at SSB Europe refused to even sign the full notice period of 5 days. This was after he turned down a 30% pay cut ultimatum or be fired. Shocking.
Ok at this point in all my years at Stste Street just under 10 years, I have always been notified by now about a raise and/or bonus. I’m just under a year in my new team. I work long hours and do workloads far greater than the other members in my... read more
I was warned by a coworker that next round of layoffs will predominantly focus on those who satisfy rule 70, which to me sounds like a recipe for legal action against State Street. Anybody heard more about this? I'm personally in this group, so... read more
Slightly bigger bonus than last year and 2% salary increase. First increase in 3 years.
Usually I hear around now about a bonus and or a raise. And I have not. I’m getting a little nervous now. Has everyone heard? Please let me know because that would really really s--- If I don’t get anything at all
We’ll be lucky with the regular bonus and meager pay raise if we get one whopping 2% How come STT can’t give us s tax break bonus why not us? STT has benefitted tremendously with the easing of D-F and other regukations. Why so stingy?