2021 likely go into be a tough year - employees will not be asked to RTO (return to office). Reducing headcount and company footprint. Wait and see. It’s happening.
10 replies (most recent on top)
Maybe know layoffs but deployment is happening even if you aren’t interested in the position. What happened to the days of going for a job you want? We have to train low cost areas on our jobs and then be moved wherever the company places you. There had to be a financial reason that State Street benefited from to not
Be laying off. Very sad world we are living right now.
People leaving end of April were given notice prior to the outbreak. There are also rumors they
Are trying to place them in open positions.
There are many employees being let go at the end of April at State Street. This no layoff during the COVID period must be fake news
It’s not BlackRock https://www.google.com/amp/s/amp.ft.com/content/52ad461f-92b6-4636-ab7b-669d14dcdc62
But I can see they no lay-off as part of the agreement. Still expect a lot of internal movement. People will be forced into other groups to fill holes.
I saw the bulletin, but it just says no layoffs until the virus is over. Who knows when that could be.
Where did you see the language about the Fed controlling SSB and BlackRock?
State Street along with BlackRock was selected by the FED to administer a temporary program. The agreement is as long as State Street is getting revenue from this program, they can’t lay-off people. Don’t be fooled by the message that the CEO is saying like they are super heroes. I’m sure revenue gained will offset the loss of paying more people in the USA.
Confirmed but fine print say no layoffs during Covid crisis which we expect can last through the end of the year. Aka if covid is better by summer layoffs are back on the table.
What's your source for this news?