Thread regarding State Street Corp. layoffs

Contractors hired as permanent employees

My friend works here as a contractor. It may not be the right place to ask that question, but I would like to know if anyone knows what's the possibility is of a contractor being hired as a permanent employee? I don't know of any such case, but maybe it's still possible?!

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Post ID: @OP+1fHQ0s5s

8 replies (most recent on top)

@Post ID: @3uep+1fHQ0s5s

1st The group of people doing well financially is a very small group

  1. Most workers are doing double and triple workloads due to yearly cuts .
    When given raises and bonuses are usually less than 2%, and sometimes their
    are periods of 1 to 2 years with no raises and bonuses.
  1. The group which says they are doing the bare minimum to have job is very very small.

The majority of workers are from group 2. and worked nonstop.
When I was their I saw many people giving up their breaks and having lunch at
their desk, and working too. Its sad when workers are so afraid of being laid
off they give up their breaks and work at their desk while eating their lunch.

Their was a time when the State Street motto was " Our workers are our greatest
assets.
Sadly around 2000yr it changed to , " Our U.S workers are our greatest expense
which must be eliminated through outsourcing and H1B workers

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Post ID: @3dhz+1fHQ0s5s

Sometimes it's as if there is a divide among the workers at State Street. To some set of people, State Street is a good place, and the organization has made them grow professionally (as well as financially). And then there is another set that talks about no career growth or opportunities at State Street. And there is even another group that says you just need to do the bare minimum to have job security at State Street. I don't know which one to believe. Seems like different people have different experiences at State Street.

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Post ID: @3uep+1fHQ0s5s

Yes, it is possible. But considering STT is doing constant and frequent layoff, and replacing US employee with H1 and offshore, job security for being employee is similar to contractor, plus there is no pay increase and pretty much no career.

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Post ID: @2kaq+1fHQ0s5s

It happens. But be aware that he/she will not get any pay increase anymore or just one small increase in a few years. Also the bonus is close to zero even HR may say the bonus is normally 10-15% (a big lie of HR).

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Post ID: @2aub+1fHQ0s5s

Your friend should grow up and not work for state street. A true dead dump.

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Post ID: @1mnq+1fHQ0s5s

I was a contractor, worked hard. My contract ended but a couple months later they called me as a full time position opened up. It definitely happens there are a ton, I mean ton, if job openings there now

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Post ID: @1slc+1fHQ0s5s

@Post ID: @OP+1fHQ0s5s

I would say the chance of your friend being hired as a permanent employee or even contractor is small.

I was a contractor who worked their 6 months then had my contract renewed for another 6 months for a total of 12 months.

Then I was let go and replaced by a new contractor. I know this because I had mad two good friends in the department where I was working.
They said it was crazy not to renew my contract instead of hiring a new contractor who has to be trained.

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Post ID: @rvv+1fHQ0s5s

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