Thread regarding State Street Corp. layoffs

Facts Please

Has anyone been laid off in the last few weeks?

Have you heard about anyone being laid off in the last few weeks?

Any rumors about layoffs in the next few weeks?

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Post ID: @OP+14dJtYwH

13 replies (most recent on top)

I believe that severance is based on your years of service and job title. At least that is my understanding of severance.

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Post ID: @1lmmv+14dJtYwH

@3sow+14dJtYwH You will not loose anything by being a bit more positive and having a ray of hope come what may for a better day to believe something good will happen. We all know what the current economy is and what companies are facing.
Even I am affected with the current layoffs but I would never go on telling others that their jobs are crashing down as well.
I hope the company pulls it through in this tough time and hopefully we as a community can try our best to help each other and stay home and break this horrible virus down.
Stay safe!

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Post ID: @3ain+14dJtYwH

Remember kids, severance is at the company’s discretion, they owe you nothing. And given the current economic conditions, severance is not going to happen.

But don’t worry, the government will take care of you!!!!

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Post ID: @3zaf+14dJtYwH

Severance? That’s a good one, lol.

Umm, no. Don’t plan on that. It’s over. Life as you know it will never be the same.

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Post ID: @3mbv+14dJtYwH

Of course there will be little to NO severance, they now need to layoff many, many, many more than they had originally planned on due to the corona crash. Are any of you paying attention to the FAKE stock market? Man, some of you are so damn naive.

You’ll be lucky to get through to unemployment office to file your claim, no companies brill be handing out severance packages the way they once did, they simply DON’T have the cash to do so. You are dreaming if you think you’re going to get more than 2 weeks severance, even if you are senior management.

The people that already got laid off in 2019 and prior years got decent severance because the stock market was at an all time high....but no more, they don’t have the means (money) to do so for all the people who are about to get laid off, so expect NOTHING. Hopefully you are able to get through to unemployment, they are backed up from the 3.3 million that just lost jobs last month, many are no having success trying to open a claim to collect their UE benefits.

Wake up. We are headed for a depression like you’ve never seen in history.

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Post ID: @3sow+14dJtYwH

Severance would start after your termination date. Example if the end date is 5/1, severance would start week of 5/4

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Post ID: @2flg+14dJtYwH

Would severance pay start from the day of unemployment or is it from the day they inform about layoff?
For example for March 31st notice - number of weeks is counted from 1st April?

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Post ID: @2srj+14dJtYwH

March 31. 2 weeks for every year completed

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Post ID: @2jgj+14dJtYwH

@1std+14dJtYwH - what did you get for severance? heard rumors that they will be changing the package due to the increase in u.s. folks that they now need to chop because of the downturn. not sure what to believe.

working from home has been k–ling the accurate flow of information. the people in my group have not talked to our manager off the record in close to 2 months now. she usually over shares in our team meetings to show that she is in the know.

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Post ID: @1qjt+14dJtYwH

Was laid off 3/4 with an end date of 5/1

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Post ID: @1std+14dJtYwH

Also those who got notice for March 31st, how much base severance was offered?

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Post ID: @mul+14dJtYwH

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