Thread regarding State Street Corp. layoffs

Next round of layoffs. 2/5 and 2/12. Buckle up.

Next round of layoffs. 2/5 and 2/12. Buckle up. Let's hope they cut the fat cat executives, because it is the workers that run the company.

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Post ID: @OP+13ip6XpZ

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I worked in a dept with a person who was the Mgr of a dept which was outsourced.
His friend a Vice President created a make believe position for him were he basically did nothing
for 4 years until his retirement.

He spent the day surfing the web and going to break and lunch with his executive friends

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Post ID: @delf+13ip6XpZ

@Post ID: @5bhz+13ip6XpZ

Yes its laughable when you have a department with maybe 5 workers left.
But they have a MGR, Assistant mgr and a Supervisor (lol)

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Post ID: @5qtq+13ip6XpZ

I visited a a coworker who has been able to hang on by a thread in IT.
WOW !!!!!! I was shocked as our dept which once had an IT staff of 20 people was now working with a
staff of 4 people.

It seems over the last 9 years they been outsourcing IT .

Their is no shortage of U.S IT workers, only a shortage of people who are willing to work for slave wages.

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Post ID: @5ezf+13ip6XpZ

There is no future for US IT employees with this company, they will eliminate the US positions and outsource to foreigners. Disgusting.

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Post ID: @5rvq+13ip6XpZ

Happened today 2/5 in IT. Seemed to be mostly worker bees and not any management and certainly not senior management

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Post ID: @5bhz+13ip6XpZ

I heard the same thing. 2/12 will be really bad. Cost pressure was already very high—exectutive management needed to reduce overall employee cost and now with market sell off due to the coronavirus taking hold expect the cuts to be even more brutal.

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Post ID: @1myx+13ip6XpZ

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