Thread regarding State Street Corp. layoffs

Extensive cut that hurt employees

Just got the notice today of being laid off, I work hard on a daily basis, yet can't escape the fate. I am petty for my co-worker because it is not like we are sitting at our desks doing nothing, the person who stays is going to pick up the extra.

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Post ID: @OP+13mccGSD

12 replies (most recent on top)

@Post ID: @qgn+13mccGSD

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: @9xrr+13mccGSD

Untill you are in the severance period you pay the same premium as if you were employee. For CIgna and BCBS plan family it was around $300 per month. After severance with COBRA ..around $1300-$1500 per MONTh. For a high deductable plan with $3000 and 5000 per yr deductable. Insane..... So spouse plan or masshealth...but better you are finally free and can find a new company /job that respects it's employees.

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Post ID: @1upv+13mccGSD

IT affected @ many locations, including Boston SFC.

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Post ID: @1mnh+13mccGSD

In 2017, the average annual premium cost for employer-sponsored health insurance was $6,690 for individual coverage and $18,764 for family coverage. But employers covered 82% of the costs for individuals and 69% for families on average.

With COBRA insurance, you’re on the hook for the whole thing. That means you could be paying average monthly premiums of $569 to continue your individual coverage or $1,595 for family coverage—maybe more! Per DaveRamsey.com

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Post ID: @uoq+13mccGSD

How much is COBRA for a family of 4?

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Post ID: @jmt+13mccGSD

Useless company with jobless managers who don't do anything but just forward mails and repeat same content in meetings.

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Post ID: @qgn+13mccGSD

@Post ID: @OP+13mccGSD

Not sure your age or when you starting working for the company.

There was a time when hard work and giving not %100 but %200 paid off with good raises and promotions.

When the great layoffs started in 2000 my dept had 12 people then we went down to 9 then 7 people.
Our workloads doubled and when a person was out on vacation it tripled.
The senior mgmt doesn't care how hard you work, whether your doing double work loads.

Their motto is " Be grateful you still have a job, now get back to work"

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Post ID: @wwc+13mccGSD

@ Post ID: @say+13mccGSD

I could not afford the Cobra to keep my health insurance, as a single person it would have been
$565.00 a month !!!!!!!!!!!!!!!!!!!!!!

I was able to get insurance through the Health connector not as great for only $350.00 a month
But next year when I went to renew again with cuts in subsidies it jumped to $500.00

oh well

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Post ID: @ynw+13mccGSD

Back in 2012 when I was let go, I received 39 weeks of Severance Pay, went on COBRA and after COBRA expired I was allowed to continue coverage on SS Medical since I was between the ages of 52-55 and could stay on until 65 as log as the coverage was paid each month. But that amount jumped this year from 280 a month to 420 a month. MA health care was not cheaper, nor would MA health care cover all d–gs and MA health care had a higher out of pocket cost.

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Post ID: @say+13mccGSD

When no office location, job level or division is provided it is sure fire sign of a troll. If you just got your notice, why the tight lips?

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Post ID: @iwv+13mccGSD

What location? Did you get 8 wk notice before severance PKG kicks in?

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Post ID: @rfi+13mccGSD

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