Thread regarding State Street Corp. layoffs

VP software developer

The next batch of state street layoff is scheduled at the end of June. Looks like most of the government offices will not be fully open for background checking etc, State Street is determined to throw some employees to the street. With State Street working so hard to only maintain 15% of employees in US, it is virtually a foreign company doing business in US.

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Post ID: @OP+14REsJUi

8 replies (most recent on top)

To add to the previous posters comments about the help desk, your also on hold for what feels like forever.

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Post ID: @1memz+14REsJUi

Post ID: @Twdl+14REsJUi

Maybe the customers are staying because the cost of moving over to another financial company might be more expensive, than putting up with the poor service they are receiving from State Street.

The few people I know who are hanging on by a thread have told me the Helpdesks outside the U.S are a joke. You call with a problem and are told okay somebody will get back to you as soon as possible bye.

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Post ID: @1jngd+14REsJUi

How many employees did get laid off at the end of June? I did not hear of many in my group or anyone in my current network.

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Post ID: @19szp+14REsJUi

@Post ID: @4fsg+14REsJUi
As a former employee of State Street, I find it very discouraging to believe that they are hiring younger, cheaper workers to replace the highly skilled workers they are replacing. How is it possible that they are still retaining many of their client's?

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Post ID: @Twdl+14REsJUi

@Post ID: @4fsg+14REsJUi

Silly, they are not getting rid of highly skilled workers, to give the younger people a chance at getting a job.

They are brining in younger cheaper workers with no skills to replace highly skilled workers.
And the younger workers are being trained by so called senior workers (lol)

Who been there 2 years or less

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Post ID: @Qsye+14REsJUi

can someone confirm this is accurate that layoffs coming in june 30th?

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Post ID: @Njal+14REsJUi

They have been laying off experienced workers for years and replacing them with inexperienced, younger workers. I don't have a problem with giving younger workers a chance since we all deserve a chance for a start in life. As long as the new, younger worker is getting the proper training. If they are being trained by another inexperienced worker then what type of training are they receiving.

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Post ID: @4fsg+14REsJUi

Yes there will be layoffs of contractors working in the US effective June 30th. The workload is already bad enough now, they will get rid of experienced workers, regardless if these people are FT workers or contractors in the US...unfortunately things will continue to get worse.

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Post ID: @3cym+14REsJUi

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