Thread regarding State Street Corp. layoffs

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, SSC is a sinking ship for USA workers. They figured out a strategy to save so much money and won’t stop now. It is over essentially in time now, so we all need to move on. The savings to them is far better than superb quality They then rely on the 1-2 onshore people they kept to fix the mistakes and work them to death now. No career here for anyone anymore -onshore.

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Post ID: @10onC9Ja

5 replies (most recent on top)

@Post ID: @10onC9Ja-dbmd

No, they stay because they know most companies are not going to hire people 50yr ++.
They stay hoping if they can make it till 55yr, they can tap their pension plan tax free
If they make it till 59 1/2 they can tap their 401k tax free.
If they can try it make it till age 62yr they can take early social security .

They are just trying to survive at that slave shop

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Post ID: @10onC9Ja-ddyr

It's all so sad. I really thought I would build my career at State Street. The few of us that were left on our dept were worked like dogs. I left last month & they cannot replace me. I was told if our team could hire, it would be from Poland, probably in 2020.

IT in Quincy is a real sinking ship. I am glad I'm out. All the quality people know already left or are looking to leave. The only people I know that are not leaving are those who still will get a good severance if laid off...many with 20-30+ years of service.

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Post ID: @10onC9Ja-dbmd

SSB doesnt care about an a single individual. Numbers drive the clipper not emotions. The current CEO cutting the fat and if you live in a high expense region then expected to get cut. I live in a said region and expect to be cut. The world isn't full of sunshine and rainbows like people make it out to be

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Post ID: @10onC9Ja-6tmk

Lmao thats brutal, but you get what you pay for.

I've given up on caring as its impossible to maintain standards. Lou can take his baton of responsibility and shove it.

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Post ID: @10onC9Ja-2nnu

we pay syntel around 20k per head. Syntel pays their employees around 4k per head.

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Post ID: @10onC9Ja-1bvi

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