Are any layoffs coming soon? I am hopeful, I doubt it though since the entire bank is chronically understaffed. I’ve gotten so sick of the huge workloads, discrimination, finger pointing and blatant lack of respect state has for the people working here.
16 replies (most recent on top)
@Post ID: @Iodd+1grd63Zj
Your post is 100% a lie, yeah you wish when they rehired you , you did get 50% more
Worked there for 15 years, left for a "better" opportunity for 15 months which sucked just as bad. Came back to SS making a 50% more than I was when I left due to the lack of staff. Work my own hours now and don't have a care in the world. What a life.
I would like if all those that say they they were laid off or left and got a better job to please ellaborate. What were you doing at SSB and what is this great new opportunity you were lucky enough to find? How much of an increase did you get? Please, Please do tell!
Please give the rest of us some hope....
@Post ID: @gxjh+1grd63Zj
Good factual post, as a former employee who was there for 20 years.
I have been doing contract work, temp work for the last few years.
Being in my 50's I am finding many if not most companies do not want to hire people in their 50's
I tried networking but found out half the people are working as contract workers, and the other half have jobs making 30% to 40% less, all are in their mid 50's
@gami+1grd63Zj - All current and former employee's who post on this website. You are very fortunate if you are able to find another position where you are earning a significant salary. Unfortunately, I know of many current and former State Street employee's who are searching for new positions and not being considered for any new opportunities. In my experience, many of us were able to find employment but at a significant salary decrease, (30 - 40%). If this happens you are forced to transition to a new role that might not be a good fit, (selling life insurance or real-estate). You might get offered a contract role which might work out and you could get hired to work as a full-time employee. It is also possible that if you accept a contract role it might only last for a few month's. I have a large Linkedin network of many former State Street colleagues and some who are still employed at State Street.
Was there just shy of 30 years. Started right after college. Was laid off 2 and half years ago. Best thing to ever happen. Took few months off, hit new job six months after being laid off. Making more money in a different industry. No stress and less hours.
Get out of there folks - no sense wasting your prime years working for a company that is draining you dry due to overwork.
I was kicked to the curb last year after working there for 2+ decades. I landed a significantly higher paying job within a few months and significantly boosted my savings. And I work shorter hours with no weekend work to boot.
I'm much happier in my current gig, where career/employee growth is an actual priority for the company. I suggest you people strive for happiness with another company also.
Sadly Senior mgmt doesn't care about the workers at the company.
Everything is about cutting cost through layoffs, outsourcing and brining in H1B workers.
When I was there I knew people so afraid of being put on the layoff list, they would take their breaks and lunch right at their desk. Image trying to eat and work at the same time, how sad.
I was the radical worker who would actually take my breaks and lunch away from the office. The breaking point was when my Boss sent a worker to the caf during my lunch.
To tell me I was needed to come back due to an issue.
This was the finally straw so I started looking for a new job and gave my notice 2 months latter.
I am A former employee who checks back every now and then to see what’s going on. I was horrified of being laid off and then eventually it happened! Honestly the BEST THING that has ever happened to me! I saved over 100 K while collecting my severance and then finding another job within a few months. Not sure of the packages you guys get now but I was there for 15 years! Trust me when I say GET OUT. So much better elsewhere!
Ronnie McDonald says get back into the office you clingons!
I’m planning my escape :)
My advice: Get out of there!
You will thank yourself later.
There is no reason on Earth you should let yourself be treated like garbage. The package will be skimpy, and you will feel violated.
As the great Joe Strummer once sang:
Wave bub-bub-bub-bye to the boss
It's our profit, it's his loss
Senior mgmt is useless. Image if more people quit.
Agreed short. I’m sad to say Mandatory Reassignment has already started. That’s why I’m alone on my team now.
SSC has evolved into what must be the biggest sh1t show employer on earth. Praying for layoffs but I don’t think that’s gonna happen. They are hurting from “unprecedented attrition”. I could see mandatory reassignment to understaffed areas in the future. Would not surprise me at all.