Thread regarding State Street Corp. layoffs

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 over the last few weeks. Its not a fiction to them that yet again the great Old Clipper ship has taken on water and responded the only way it knows how...by laying off its hard working staff.

Reason for the layoffs....because of various cost pressures.....

The few of us on here who see what it is....we will continue to warn as long as we are able....it is up to you to act in your own best interest....heavens knows that the Executive Team is doing just that

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Post ID: @OP+12lpFXof

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A bit late to reply I know, but was this blockchain/DLT team in fact the two Omnia groups in Austin and Belfast? The number (about 100) is right, but I do not recall any separate blockchain development team and only a very few (maybe five) people were trying to work out a roadmap for distributed ledger (DLT) and this was distinct from the Omnia secret (at first) skunk works. Also, the Omnia groups seemed to be developing bespoke infrastructures (over 2 years, so 200 effort years) on top of open architecture standards, while I thought the whole point of open architecture was to not have to do this...

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Post ID: @exkh+12lpFXof

Wasn't that team notified in September and let go in November? Moiz has been gone for 8 months now. Old gang is back thinking outsourcing is the only solution.... and It is with the change resistant mentality old IT leadership has. Even a simple development takes such and administrative effort to carry it out... that discourages employees from bringing up good ideas.

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Post ID: @1wst+12lpFXof

Was the blockchain team developing anything meaningful that had a pratical application? Or were they just throwing buzzwords around and getting paid to do nothing.

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Post ID: @nxm+12lpFXof

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