Many employees in State Street have received notices to be laid off at the end of April. It is the very few big banks doing layoffs at the peak of COVID 19. Guess State Street is financially expecting a big lose in the immediate future.
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Who knows who can you trust? Go with Ron but lets not forget that in the past 13 years even when the economy was booming and SS profits were up there were always a reason to cut merits /bonus and layoff employees. Why would he not do that when the economy is going through the worst downturn in 100 years?
Ron promise no layoffs this year. Feel like people here are lying.
@Post ID: @1hra+14rxMH16
Agree they have been doing layoffs for 15 years, the company stock would hit $500.00 (lol) and they would still be doing layoffs
@OP+14rxMH16 Not sure about the expecting a big loss in the immediate future. State Street has been laying off and displacing employees for at least 15 years. Of course the current COVID 19 situation is making the financial situation difficult for many small companies as well as large companies, like State Street. If they are indeed laying off it is just another opportunity to send more jobs to India. I know of many in my network within the past several years, that left State Street, are still working for them but in a different role or were laid off. I don't believe that any really knows what the future will hold for anyone who is currently employed.
People were given an “End” date for the end of April, at the beginning of March. It’s being termed as part of the “Transformation”. As were people whose end date was 3/31 for February.
How is this possible? Ron sent us an email earlier this week in which he promised no layoffs for the remainder of the year. Somebody's lying.