State Street Corp. Layoffs

Topics regarding layoffs at State Street Corp.

Expect more and more IT layoffs in 2020

SSC Execs, including the new CEO,love to hold employee calls to basically provide lip service, so staff that remains does not walk away. IT will be hit hard with layoffs again in 2020. If you are offered a job with this company, run away like it is... —  read more 

Offshoring Options

In GAO Area. We were told early June we will WebEx train India on our jobs. Of course, they have said nothing to us about being let go and tell us there is no time frame. Then we were told last week we are way behind in how many of our clients we... —  read more 

State Street W2

Where can I get a W2 to be downloaded. I am a former employee. I've been laid off in 2019, but now I need State Farm to issue me a W2 for the time I worked there. Thanks for your help.

Another 750 layoffs - ignites.com

January 17, 2020 State Street expects to eliminate 750 jobs in so-called “high-cost” locations this year, executives said Friday. Last year, 3,400 positions were cut. The headcount reductions are part of an overall plan to lower spending by about... —  read more 

State Street 3,400 job loss

State Street Corp. reduced its headcount by 3,400 employees last year as part of a cost savings initiative, more than doubling the number of job cuts it had anticipated at the outset of 2019. The company (NYSE: STT) revealed the figure Friday... —  read more 

Merit and Bonus Pools

Anyone hear anything in regards of this year’s merit increase? Got squat last year and am hoping for something better, but I am not going to get my hopes up.

Another new CEO for State Street Ronald P. O'Hanley

As Previously Announced, Jay Hooley to Retire as Chairman on December 31, 2019 State Street Corporation (NYSE: STT) today announced that its board of directors has appointed Ronald P. (Ron) O’Hanley, State Street’s chief executive officer, as... —  read more 

Bottom Line

The goal is 85/15 offshore/onshore by 2022. That’s all people need to know as the bottom Line-and the future for all employees here. Currently Operations- Now is at 50/50. So quite a few more to go over the next 12-24 months.

Layoff Jan 8th

Layoff happening on Jan 8th. Confirmed. I expect it to be a huge one atleast 10% ON IT dev and 15% in IT SQA.

State Street Slashes DLT Developer Team

For all those doubting State Streets layoff plans....and critisizing those who have tried to warn our fellow employees about what was coming....why dont you tell it to the 100 or so members of the Blockchain development team that have been let go... —  read more 

Who’s the Buffon here

That keeps plugging dates? Sounds like those contrarians about the stock market crashing. At some point they may be right on getting one date where someone’s laid off but the hysteria is terrible and so disingenuous. You’re a liar and a troll and... —  read more 

Another big day 11/13/2019

This is it....the next big layoff day is upon us. Who will be cut? Any EVPs, SVPs, MDs or VPs? Or will the regular workers once again have the target on their backs? I think we all know the answer. Now we just need to wait to see how... —  read more 

Sinking ship with highly unskilled mgmt

Mgmt has no vision and employees are devoid of any contemporary skills. It's a shame to work there, if you have any expertise. It's all ponzu scheme and whom knows whom than where the asset mgmt future economic model is going and what tech... —  read more 

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Here’s a headline I just saw

MARKETSPublished 22 mins ago The most profitable investment for businesses? Happy employees Maybe stt should take a page of this article and stop with the decades long chronic layoffs. Maybe they’d turn a profit and not outsource America to... —  read more 

Is Channel Center the Boston version for JAB?

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 

Commuter Benefits

Do not forget that State Street takes care of you: https://www.wageworks.com/statestreet/commuter/

Wednesday 10/2 Boston

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.

Move to JAB

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 

Lots more cuts coming?

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 

State Street HR Failures

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 

Rest Assured - Some are Getting HUGE Bonuses

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 

So...

Looks like Ireland is next on SS hitlist for outsourcing, would you stick it out for the redundancy or run for the hills?

Any chance we are done?

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?

I’m thinking a new CEO

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 

Share Price

How about that share price eh? On the slip and slide for quite some time now, how long before it hits rock bottom...

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