State Street Corp. Layoffs

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Topics regarding layoffs at State Street Corp.

Where’s our senators

I’m watching senators from Michigan right now discussing GMs layoffs and the devastation where was it should I say where IS Lizzie? Ed? Crickets! And I’ll bet you all voted them back in too.

Mourning Bush

Does anyone remember that StateStreet gave us a day off in lieu for the passing on Ronald Reagan? Why aren't we getting one for Bush?

Relax for a bit

I'm not sure where all the worry is coming from. What I'm reading seem to be mostly rumors that never materialize, and we haven't had any layoffs in quite a while, from what I can see. Not that there'll be no more layoffs, I know there will be, but... read more

100% WFH

I heard some folks working on the AIS side are being forced to work from home 100%. There will be no permanent desks for FR and fund accounting staff.

Outsource

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.

Time to match

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

Part time

Anyone being asked if they or anyone on their teams want to go part time?
by Anonymous | Post ID: @VSqo8LN
163 views | no replies

The flawed business strategy

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

This just sums it all up

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...

Whoa down $5.40

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

Layoff SSGA October -- Merged GE Group

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.

State street acquires Charles River Systems

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
by Anonymous | Post ID: @VwrDJmn
396 views | no replies

SS sets the date for Q3 financial results

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 opens Abu Dhabi office

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.

Did anything happen today?

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

New Hire

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?

Sept 6th

Anyone hear anything about 9/6 being another lay off day?

State Street truly is a rotten company to work for

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
by Anonymous | Post ID: @TUFkSQn
824 views | no replies

More info on this?

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

Enough is enough

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

More layoffs at State Street?

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

2017 Annual Report - Restructuring

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

U.S. Hiring freeze

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.

Markets in Turmoil

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
by Anonymous | Post ID: @Sv80Mlu
375 views | no replies

Markets Tanking...

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

Trump kicks off Global Trade War

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
by Anonymous | Post ID: @SjwNSwU
304 views | no replies

Bad negative energy

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

Contractor escorted out by security

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.

Any solid advice appreciated.

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

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