State Street Corp. Layoffs

Topics regarding layoffs at State Street Corp.

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.

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Post ID: @12rpfNSq

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.

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Post ID: @12m4GWCc

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 

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Post ID: @12lpFXof

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 

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Post ID: @12eHvMbI

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 

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Post ID: @11ZUDah8

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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Post ID: @11Av6srt

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 

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Post ID: @11zpJzdJ

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 

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Post ID: @11w141f0

Commuter Benefits

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

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Post ID: @11lXvPJA

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.

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Post ID: @11jT4YaA

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 

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Post ID: @11guDfY7

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 

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Post ID: @11gQtgJn

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 

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Post ID: @119pUFvg

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 

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Post ID: @1180DKgc

So...

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

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Post ID: @111jjvXD

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?

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Post ID: @111uyx9y

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 

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Post ID: @10KoHpLB

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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Post ID: @10J8rSzl

Ron’s Sailing it in

Ron is presiding over a failing firm whilst sailing his competition yacht all over the world. Thoughts?

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Post ID: @10AAcAPS

Timing

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.

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Post ID: @10x5pF6i

Not a place to build a career at anymore

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 

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Post ID: @10rMLxGB

Layoffs wednesday???

Has anyone heard from legit source if this Wednesday is big lay-off day??

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Post ID: @10oStP3I

Quality vs savings

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 

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Post ID: @10onC9Ja

State Street and Indian outsourcing quality

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 

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Post ID: @10oDSBaX

It is imperative

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 

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Post ID: @10oYLDQI

Hard realities to accept

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 

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Post ID: @10mrvq5w

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