Thread regarding State Street Corp. layoffs

Just got notice will be let go next month

After over 39 years I am losing my job. I really enjoyed this company when I first started. It was a great place to work. Over last 10 years been threatened with lay offs all the time. Can’t believe how down hill it’s been going. It is really sad all the outsourcing to save a dollar. Very sad

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Post ID: @OP+13oaCsPp

17 replies (most recent on top)

State Street has been working to move 85% of the workers to foreign countries. Actually looks State Street would prefer fly foreign workers to US rather than employ US citizens. Sad, but that is the life for Americans in the IT field now.

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Post ID: @11zen+13oaCsPp

Well I contract there and just got extended but I am looking of course. The goal is to have 90-% of the teams out sourced to low cost hubs and teams make bed all together. The China teams do not do a better job either and the time zone and language issues take thier toll. Now you got conference calls and meetings all day and early morning before 6 and after 9 and you are expected to attend. It takes a toll on families. I am doing software and will teach term limitations soon. I was brought on with the intent to convert. Other co works will be gone by the end of March . Replaced by Chinese personnel. A lot of good people there and they are losing brain trust

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Post ID: @jzei+13oaCsPp

@cnkk+13oaCsPp Not everyone is in a position where they can afford to retire or wants to retire either. I know of some family members and acquaintances who retired early and have aged considerably. Unfortunately, some older workers are forced to retire before they reach full retirement age since they can't find a position at any level.

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Post ID: @fmvb+13oaCsPp

No not all were associates just the OP who stayed there for a lifetime.

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Post ID: @8hhi+13oaCsPp

@2pwa+13oaCsPp Why do you assume that everyone is at an associate level? I know from my network of former peers and colleagues of many different levels that were let go/displaced by State Street. If you are still employed at least you have an opportunity to look for a new position,

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Post ID: @8upc+13oaCsPp

@Post ID: @1aap+13oaCsPp

I was there 21 years and yes the stress of the yearly layoffs does take it toll of people
But why on earth would I want to give up the following perks I enjoyed

4 weeks vacation

4 day work week

the option to work from home 2 days a week

Plus I only had to drive 6 miles to get to work

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Post ID: @4dag+13oaCsPp

I guess if you are comfortable working at an associate level for 30 plus years then power to you.

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Post ID: @2pwa+13oaCsPp

@1vqv+13oaCsPp Thankful to hear that you found a new position in a different industry that you enjoy. I have been working at a new position for a while and have hated every minute of it. That being said, I will always be grateful for the many years that I worked for State Street and got paid a good salary, received good benefits, worked in a professional environment, etc.

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Post ID: @2otr+13oaCsPp

To the TROLL

If a person likes their job and the company they work for why should they leave .

If your a Database Admin or a Programmer or Tech why change your career field if you enjoy your
job.

That is why State Street is so messed up you have Indian workers who believe in moving to a new company ever 5 years or less.
This is what causes instability within State Street, having to constantly train new workers .

That is why the joke is anyone who been with the company for 5 years is now the senior person.
That is why their is such a lack of skills and knowledge among the workers, No senior workers for them to asked questions to

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Post ID: @1aap+13oaCsPp

39 years is more than possible although it will no longer be replicated in the new corporate environment at SSB or anywhere else. The person that called the commentator a troll deserves some PITY. You my friend would not make 39 years anywhere. No one would ever choose to keep someone with your attitude around along with your obviously laziness. I say obvious because you cant fathom someone working hard and kept for 39 years. I feel sad for you. Move on my friend, do everybody you encounter the favor.

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Post ID: @1qzz+13oaCsPp

To the person that believes dedication is irrelevant. If your resume came across my desk with a history of job changes from one employer to another... next. Good luck skippy.

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Post ID: @1wcx+13oaCsPp

I was let go last yr from state street after almost 30 yrs. Took sometime off. Found a great job in different industry . Been there over 3 months. You will find something you love .

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Post ID: @1vqv+13oaCsPp

Ok TROLL seems someone is sensitive and feeling regret for staying in a position so long out of comfort. Good luck on finding another job after staying in the same job for 30 years. It’s not loyalty but laziness and other employers will see that clearly.

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Post ID: @1frz+13oaCsPp

Whoever wrote you are a troll is a complete and utter mo–n. Yes mo–n there was a time when people felt a loyalty toward their employer because loyalty was reciprocated back. There are still folks that have been with the company 25 , 30 and 35 years because I work with some on them. Do you know why these folks have lasted this long in over a decade long march toward outsourcing, its because they are knowledgeable and have a work ethic that you will never even come close to. So mo–n, keep your ignorant comments to yourself.

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Post ID: @1itn+13oaCsPp

You are definitely a TROLL. 30 years lol.

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Post ID: @alu+13oaCsPp

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