Thread regarding State Street Corp. layoffs

New 2020-2021 Targets

New targets in headcount reduction for High Cost centers announced. Nearly 3,000 impacting all departments over the next 2 years. This is in addition to the normal ones. This is going to be major Impact to Clients and services.

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Post ID: @OP+13TKL2zv

10 replies (most recent on top)

We all need to work harder and do our part in these difficult times. Our CEO and the rest of the management team need and deserve our support.

I am willing to accept a lower pay and to work extra hours without pay and on the weekends without overtime if it helps out.

Who is with me?

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Post ID: @3dub+13TKL2zv

Brilliant. Barely meeting client expections now...more labor reductions will make anyone left wishing the get the shoulder tap!!

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Post ID: @3ofl+13TKL2zv

3% decrease in labor cost means, reduction in head count ?

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Post ID: @3pnq+13TKL2zv

3% “productivity” improvements per division is what I heard - likely 3 % decrease in labor costs

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Post ID: @2qar+13TKL2zv

"And head count reduction is what they are doing. This is the outcome of the new program. You’re obviously aware of it. "

When Statestreet want to do what is good for the company, there is no room for mckenzie to interfere and suggest any further cuts.

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Post ID: @atv+13TKL2zv

“ From what i have heard is that though mckenzie has suggested cost cutting by reducing the head count, statestreet management decided only to do what is good for the company.”

And head count reduction is what they are doing. This is the outcome of the new program. You’re obviously aware of it.

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Post ID: @imo+13TKL2zv

Please post only authentic information here !
Lot of employees do refer this forum to make decision on their continued employment with statestreet.
From what i have heard is that though mckenzie has suggested cost cutting by reducing the head count, statestreet management decided only to do what is good for the company.

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Post ID: @kej+13TKL2zv

What is your source for this?

Are you just a troll trying to scare us?

Our great CEO Ron would not do this to us?

Why do you spread these false statements?

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Post ID: @tsc+13TKL2zv

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