Thread regarding State Street Corp. layoffs

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.

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Post ID: @OP+13FqiiHB

12 replies (most recent on top)

OP certainly called March 9th crash.

Interesting.

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Post ID: @mnwf+13FqiiHB

Monday, March 9 will be a day to remember in stock market history.

Get ready for massive layoffs since this week is going to be a bloodbath in the markets.

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Post ID: @efcu+13FqiiHB

On a good not at least here in Kansas City, our notorious Managing Director who personally caused a 12 million dollar error funding last year, hasn't created a material error this year yet.

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Post ID: @bvai+13FqiiHB

The market sell off is getting worse. Down over 10% so far this week. State Street stock is getting hammered. Layoffs will intensify.....you heard it hear first!

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Post ID: @3rub+13FqiiHB

Lol what a pile of bull, yeah Senior Level mgmt who only cared about themselves and did nothing for the lower level slaves.

I find it ironic when a dept still has a Mgr, Asst Mgr and a Supervisor when they only have maybe 5 workers left.

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Post ID: @3oyc+13FqiiHB

@Post ID: @1pfb+13FqiiHB

When you get rid of the workers, yes the workers with 15+++ years experience who gave 200% to the company.
You have lost a vast knowledge base of talent which used to help train the new workers.

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Post ID: @3jaz+13FqiiHB

Layoffs or not the company has lost most of their Sr level managers/directors that cared for their employees. Management is weak and Kansas City is a terrible segregated place to be. Nobody knows what is going on and one department has no idea what the other is doing. Systems are breaking without anyone taking action. Only action taken is to cover your a$$ anymore.

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Post ID: @1pfb+13FqiiHB

A troll ...I think not.

Layoff targets are identified months if not years ahead of time. This may surprise those who are more naive but that's how it works. I am the decision to actually execute on a round of layoffs is done in rather short order.

If anyone doesn't think that a major market sell off has an impact on a layoff decision they simply have their heads in the sand. Wake up!

The company derives a large part of revenue from the size of the assets it has under custody/administration. When those assets go down in value than the company's revenue also goes down. In order to maintain its profit levels it has no choice but to cut costs and execute on its layoff plans.

Executive management will always make decisions to save their own jobs and fat cat salaries/bonuses. If you think other wise you are just being stupid.

So layoffs are coming due to the market sell off from the coronavius—whether you like it or not.

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Post ID: @1zqd+13FqiiHB

original poster is cold reading current events to stir up people's anxieties like half the trolls on this board. pretty pathetic tbh.

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Post ID: @1mzz+13FqiiHB

Layoffs would not happen 3/4 or 3/11 unless they were scheduled well in advance. There is thought and preparation in scheduling them, packages have to be put together and approved. There’s no “ I think I’ll lay off this person next week”. If there is to be anyone laid off say on 3/4 it isn’t because of something that happened in the market a week or two before.

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Post ID: @1rgz+13FqiiHB

Please lets keep the forum to State Street topics okay

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Post ID: @1gbx+13FqiiHB

Thanks Warren Buffett, appreciate the free insight.

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Post ID: @1rdq+13FqiiHB

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