Thread regarding State Street Corp. layoffs

Inclusion for people with skills

Does it seem to you that this company has become inclusive for everyone except for people who are great at what they do, who have knowledge and skillset? It seems to me that it has never been more undesirable to have skills than it is here now. No wonder everything is going downhill.

by
| 2200 views | | 9 replies (last )
Post ID: @OP+1eepBlC7

9 replies (most recent on top)

Post ID: @ehlb+1eepBlC7
I would imagine that you are correct to a point. They have a wide range of salaries for every position from entry level to managerial positions. Someone could make a lot of lateral moves and end up being paid more than a new manager who has only worked for State Street for a few years. It is a large corporation with many people who possess different skillsets.
I agree that the majority of high skilled workers are gone. Many of the manager's are very competent and they need some experienced highly skilled workers.
Who knows what will happen to some of these workers because of the acquisition of BBH? Many who had worked for BBH were former State Street workers.

by
|
Post ID: @hgco+1eepBlC7

H1-B workers are paid 25% to 35% less than a U.S worker.
This is why companies are only hiring H1-B workers to replace U.S workers
It has nothing to do with the old myth, they cann't find qualified U.S workers to do the job

by
|
Post ID: @fhqg+1eepBlC7

Inclusion for people with skills?

Companies have to attest all H-1 visa workers as paid greater than or equal to American workers - and most H-1 visa workers are recent graduates under 30 yr.

What do you think will happen to you, experienced and skilled American?

by
|
Post ID: @ehlb+1eepBlC7

State Street wants to send you to India for 1 year. Go learn Indian language now.

by
|
Post ID: @4gpq+1eepBlC7

@Post ID: @4xzu+1eepBlC7

1st how long have you worked for State Street ?

  1. . The new mgmt which starting taking over the company around the year 2000yr
    Created a work enviroment of Fear and Chaos among the workers.

People are just trying to keep their jobs and sadly this is why some are not
sharing their knowledge base with others.

This company used to run like a well oiled machine with all parts working together.

Bu the new mgmt and the bean counters turned on the workers. Instead of viewing them as the assets of the company success. They view them as an expense which must be cut.

Why do you think for the last 20 years they been outsourcing jobs and bringing in contract workers.

by
|
Post ID: @4alh+1eepBlC7

Well simple reason really, the better you are, the more they will take advantage of you and squeeze as much work out of you they can at the lowest pay. I’ve been here for years and my work load gets larger and larger every single month, I keep getting promoted but with very low pay bumps. while other people that have been here 20 years do nothing and hide under the radar by not sharing information and carving out their spots. It is a company that rewards tenure and doing bear minimum to avoid lay offs. Top performers naturally leave this. I’ll be gone soon.

by
|
Post ID: @4xzu+1eepBlC7

We've lost a lot of good people due to layoffs, but I've seen nothing to suggest that people are getting hired or promoted based only on their diversity. The people i work with are skilled and have been around a long time, and it's a mix of whites, non-whites, Americans and immigrants. Of course, this is a large company so ymmv.

Or maybe you're just a troll trying make things more divisive.

by
|
Post ID: @hpa+1eepBlC7

@Post ID: @OP+1eepBlC7

The majority of the high skilled workers are gone.
These are the ones who would train and mentor all the new workers to get them up to speed on procedures.

The company for the last 20 years only cares about cutting expenses .
That is why jobs are outsourced , workers replaced with contract and h1b workers.

Remember the motto is " cut expenses through any means "

by
|
Post ID: @huu+1eepBlC7

Post a reply

: