Thread regarding State Street Corp. layoffs

how's your India team working out for you

Mine started with 7 people on the team. There have been multiple turnovers and so far this year one person has quit and there are two pending resignations. I now have five employees. Two came on recently. It's the same vicious cycle every year. New faces show up, stay around a year and then leave. From what i have been told SS compensation is way way too low.. All three of them have received +50% raises. I actually saw one of their offer letters so I am not making this stuff up. I am not even going to talk about the level of quality of work coming out from India. They are obviously not up to the standards. SS needs to wake up and pull the plug out of India.

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Post ID: @OP+1gknAP6F

13 replies (most recent on top)

Every call, everyone is in India now

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Post ID: @12bbk+1gknAP6F

Remember at least 90% of all U.S IT support staff have been replaced.
That is why the quality of your IT support is so bad.

The people who knew the hardware and software and applications have slowly been replaced over the last 20 years.

Instead of a person with 10, 15++ years experience you are dealing with people with less than 5years who have no idea how State Street IT works

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Post ID: @Ubpw+1gknAP6F

have work for the company for over 15 years. have worked with a lot of great people during my time. senior management doesn't provide any kind of support. pay is ok if you have been there for a long time or come from the outside. outsourcing has made everyone's job more difficult. The IT dept is the worst its over been in my career. Overall I would not recommend working here

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Post ID: @Nhmq+1gknAP6F

@Post ID: @Judi+1gknAP6F

Wrong we have experienced U.S workers who are seeing their jobs outsourced .

We have experienced U.S workers who are forced to trained their H1B replacements or else they receive no severance package

Our Federal tax laws make it too easy and too profitable for U.S companies to move their companies outside the U.S

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Post ID: @Mhuw+1gknAP6F

That is exactly why 40 million American needs student loan forgiveness

Because we stop hiring and training American.
What will happen in 10 years, 20 years?

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Post ID: @Judi+1gknAP6F

I don't know, many quant teams are now with Chinese nationals with H1-B.

I would take India any day, at least they are not trying to flip our currency, financial system upside down

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Post ID: @Fkju+1gknAP6F

@Post ID: @cihj+1gknAP6F

Dam already doing the job of 3 people, now I have to take on the mistakes of the Indian staff.

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Post ID: @ecrh+1gknAP6F

Internal software sucks. There is no automation. Planned reduction-IT.

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Post ID: @decy+1gknAP6F

The senior managements' mentality is you deal with this Indian workers' mess, I get the benefit. I don't care if you burn out yourself during this fixing India worker problem. My money is my money, not your money.

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Post ID: @cihj+1gknAP6F

The thing I hate about having to work with India staff is their constant need for praise.
When ever I call a helpdesk staffed by India staff they do not seem to understand the meaning of " I need this now", not later .

And when they do fix a problem, they send me a silly customer satisfaction survey form.
Which I ignore since this is their job to help customers.

I never had this problem when the helpdesks were staff by U.S workers

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Post ID: @ajgg+1gknAP6F

More and more going to India. Senior management does not care even though they trot themselves out in town halls and other meetings saying they care. Go SSB!

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Post ID: @2hui+1gknAP6F

@Post ID: @OP+1gknAP6F

I remember when State Street demanded 90% or higher perfection from all its workers.
But they decided it was better to keep cutting the U.S staff to save money.
So as U.S workers were cut and work outsourced to India.

The quality of work being done dropped from 90% perfection down to 50% .
But hey saving money is all STT cares about.

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Post ID: @2klo+1gknAP6F

Troll. Your BS shines through Like a beacon.

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Post ID: @2spm+1gknAP6F

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