Thread regarding State Street Corp. layoffs

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.

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Post ID: @OP+131OmOZB

27 replies (most recent on top)

Confirmed today. No raise and bonus was the same from the year before. Just got tagged with more work. So more work and stress. Thanks Stste street.

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Post ID: @Aqdg+131OmOZB

no raise, bonus 20% less than last year, which was less than the year before .....and so ...and so on.

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Post ID: @zovc+131OmOZB

No raise, no bonus. Worst company in Boston.

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Post ID: @zyrz+131OmOZB

As a former worker of 30 years, I remember my last 10 years as a living hell.
My workload was doubled due to all the layoffs in my dept.

To add insult to injury aka throwing salt on the wound, was going 3 years without a bonus, 2 years without a raise.

Well my prays to the few remaining U.S workers who are hanging on by a thread.
Remmeber at age 55yr you can tap your penison without a penalty. Age 59 1/2 you can tap your 401K without a penalty.

For the few few people over age 50yr, I know your all trying to make it to age 59 1/2 so you can maybe retire early without a 10% early tax , and if your lucky make it to age 62yr and take early
Social security

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Post ID: @gvja+131OmOZB

I had to rank nearly all my team 3‘s with one 4 and one 2. I was forced to change most of mine down. I hate that it’s not a true, real assessment of performance but a bell curve. No cost of living raises ever. When friends at other companies hear it they think it’s absurd. Hope things get better but feeling more and more discouraged over the years.

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Post ID: @gxwb+131OmOZB

Lol people what would you rather have a raise and bonus or still having your job ?
Please their was a time when for three years no raises or bonuses.

And nobody complain we all said " Thank god we weren't laid off

PS the stock could hit $500.00 and the company will still do layoffs and bringing in H1B workers

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Post ID: @deuy+131OmOZB

Bonus will be same or less than last year. No merit raises

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Post ID: @adyx+131OmOZB

A news update

State Street (STT) Beat on Q4 Earnings & Revenue Estimates
Zacks Equity Research
ZacksJanuary 17, 2020, 8:50 AM EST
Have you been eager to see how State Street STT performed in Q4 in comparison with the market expectations? Let’s quickly scan through the key facts from this MA -based popular company’s earnings release this morning:

An Earnings Beat

State Street came out with adjusted earnings of $1.98 per share, which beat the Zacks Consensus Estimate of $1.70.

Cost saving efforts supported the results.

State Street will still have layoffs, no raises or bonuses or very very small ones
Good financial news means nothing when it comes to tredding on the workers

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Post ID: @2kut+131OmOZB

Executives are not getting a 7 percent merit. Bonus maybe but not merit.

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Post ID: @2pmy+131OmOZB

I understand the Executive merit pool is also down from last year. 7-9 percent merit and no change to the Executive bonus pool.
The company reports it's 4th quarter results tomorrow morning before the markets open.
Bank of New York reported very poor results this morning. Poor results tomorrow by the Clipper Ship and then huge layoffs will be needed.

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Post ID: @2zsu+131OmOZB

If you dont mind me asking.what is the range on your teams or scores is a 3 getting a 3% and a 4 slightly hire

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Post ID: @1jnm+131OmOZB

I think the workers who are still lucky to have a job, should not be so concerned about raises and bonuses.

I am my fellow discarded workers once went through a 3 year period of no raises and no bonuses

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Post ID: @1cic+131OmOZB

I am waiting a “final” number but as of today my whole team is only getting a bonus that is between 3 and 4.5% of their base pay. 0 for Merit.

6 people under me.

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Post ID: @1fri+131OmOZB

I am waiting a “final” number but as of today my whole team is only getting a bonus that is between 3 and 4.5% of their base pay. 0 for Merit.

6 people under me.

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Post ID: @1ixx+131OmOZB

My whole team has already been told no merit increase. 8 people.

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Post ID: @1iwa+131OmOZB

Is it really zero raises across the organization? Heard some Dept are getting raises. Please weigh in.

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Post ID: @1zak+131OmOZB

Keep looking for a new job and get out ASAP. There are other employers that value their employees, you know, the staff actually running the company.

"Delta Air Lines plans said it plans to pay out a record $1.6 billion in profit sharing to its employees this year.
The payout for the average employee will be equivalent to about two months of pay, said Delta CEO Ed Bastian.
Employees will get the bonus payments on Valentine’s Day, when the company typically holds profit-sharing celebrations for workers across the country. It will be the sixth year in a row that the airline has paid out more than $1 billion in profit-sharing payments."

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Post ID: @1ivp+131OmOZB

Got or gave your notice? Big difference between those 2 words.

If it is the former, what you get for severance? They change at all?

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Post ID: @1mja+131OmOZB

Adios Amigos????? What department are you in??? Please advise.

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Post ID: @1lnm+131OmOZB

Adios Mon amigo! We will miss you. Consider your self one of the lucky ones. The rest of us will continue to struggle forward...supporting the cause and waiting for our crumbs paid out at bonus time.

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Post ID: @lea+131OmOZB

I am so grateful to have a job at State Street. Can't pay my bills and never see my family. My health is being hurt because of the stress. Yah....it's a great place to work. Please please pick me for the next round of layoffs.

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Post ID: @bnl+131OmOZB

This is the word from Mgmt

Be grateful you still have a job

Now work work work

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Post ID: @ngr+131OmOZB

Heard from my boss it was up a few percent (bonuses) and no raises.

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Post ID: @qjp+131OmOZB

I expect a banner year seeing how bad the past has been and I am still here doing 5 Times the work. I am optimistic they will take care of me.

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Post ID: @jeb+131OmOZB

Lol. Don't get your hopes up. But you can bet the executives will be well taken care of.

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Post ID: @xhs+131OmOZB

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