State Street Corp. Layoffs

Topics regarding layoffs at State Street Corp.

Future layoffs at state street

No severance. There will be so many heads cut all at once and no severance. No money. This economic crash will destroy state street.

Lay-off 2020

Are there Aditi on SL layoffs planned in GTS (global technological services) ? Please share only authentic information.

New 2020-2021 Targets

New targets in headcount reduction for High Cost centers announced. Nearly 3,000 impacting all departments over the next 2 years. This is in addition to the normal ones. This is going to be major Impact to Clients and services.

Post ID: @OP+13TKL2zv

How to get a job in another industry

I am 49 and have worked in various roles in financial services my entire career. The last few years I have worked in risk, audit and compliance. I have been looking for a new job in risk, compliance and audit at other banks and investment companies... —  read more 

Market Sell Off

The layoffs will ramp up now big time given the market sell off. March 4th and 11th will prove to be very bad days.

bonus pool 50% from two years ago

Left Eaton Vance to work at SSGA. what a joke, first year they prorated the bonus, second year and 4 managers later it was halved. if you have a job offer from them, do not accept it!

Just got notice will be let go next month

After over 39 years I am losing my job. I really enjoyed this company when I first started. It was a great place to work. Over last 10 years been threatened with lay offs all the time. Can’t believe how down hill it’s been going. It is... —  read more 

Toxic place with clueless execs - future looks dim

When ex McKinsey and booted Mellon guys run the show, things only go down. It’s a shame to stay in place like State Street if you have any skills. Hopefully BoD sees it soon, otherwise rudderless sheep is bound to sink. Where is my alpha???

Extensive cut that hurt employees

Just got the notice today of being laid off, I work hard on a daily basis, yet can't escape the fate. I am petty for my co-worker because it is not like we are sitting at our desks doing nothing, the person who stays is going to pick up the extra.

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 -

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 

Post ID: @OP+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 

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:

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 

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