Thread regarding State Street Corp. layoffs

TCP results

Finished off my team’s TCP and for anyone who tend to get their hopes up, this year wasn’t anything special. My manager reiterated the same thing with me during my one on one with him.

Minimal decrease in both merit & bonus for my staff. I have no all-stars and only two carryovers from last year.

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| 4227 views | | 12 replies (last February 22, 2023)
Post ID: @OP+1kN3fTfv

12 replies (most recent on top)

Agreed with the below, I moved on and make a lot more now. State street doesn’t value you

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Post ID: @wcvb+1kN3fTfv

Move om its the best thing i ever did.

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Post ID: @vtmb+1kN3fTfv

Agree with below. Our direct managers do what they can for us but usually their hands are tied.

Since the 2008 meltdown, SS has used headwinds as an excuse and that was understandable for for the times but it never stopped. For the years since I would receive a fraction % increase in pay and reduction in bonus by exact same net amount so I’ve been flat for a long time. If the same formula is applied this year, I’m moving on.

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Post ID: @8ifg+1kN3fTfv

Def not all VP’s. Have gotten the shaft every year except 1 or 2. Zero raise or 1k max. Mostly zero. Nearing retirement age though and afraid to go out into the market. Same for the people who I manage. No control over their pay. I try every year. Mgmt acts like they didn’t know so and so hadn’t had a raise for the last 4 years. Oh well. Expect disappointment they say.

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Post ID: @7zzx+1kN3fTfv

These greedy banks will get what’s coming to them real soon. The next Lehman event.

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Post ID: @7pyz+1kN3fTfv

@Post ID: @6bsp+1kN3fTfv

Yes only the Senior VP, Vice President and MD are still getting good raises and bonuses

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Post ID: @6moo+1kN3fTfv

For the past year, I did the minimum work. I am not going to lie. I felt bad because that's not who I am. I did not get raises or bonuses for the last four years. I worked way beyond 40 hours per week and kept on grinding. So in 2022 I said the heck with this nonsense. I strictly worked 40 hours. No nights and weekends. I had enrolled in a part-time grad program and I told my bosses that i couldn't work beyond 6 pm.
so turns out that by working less, I am getting a raise, a very small one, for the first time in four years.. this is bonkers.. State Stree rewards people who sound important but don't do the deed.. got it..

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Post ID: @6bsp+1kN3fTfv

Do the minimum work to get the pay check; the managements don't care about us, I only care to do the bare minimum to get a paycheck. It is a win-win situation.

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Post ID: @5iiz+1kN3fTfv

I left state last year and my new company pays so much more and we did our tc and everyone is getting way more bonus and raise than state has ever given me.

Y’all are losing, I’m sorry.

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Post ID: @4nvh+1kN3fTfv

As a former worker who used to work 50 hours a week
Who used to work weekends when asked to
Who used to get work related calls off hours.

I found my raises and bonuses did not go up only my stress level

When I am my coworkers were asked to do double workloads due to the yearly layoffs.
Our raises and bonuses did not go up, Only our Stress levels

So why on earth could workers give 100% effort when they are no longer rewarded for it.

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Post ID: @4agf+1kN3fTfv

When employees realized their hard work does not equate to being rewarded or even getting an acknowledgement people are incline to do substandard work which harms the company culture (haha) and the service that we provide to our clients. Sadly the company has become complacent for quite some time. If our clients and shareholders know what State Street does behind close doors, they will be appalled. Thanks for the company for making us to take a recent training to remind us of past criminal activities that our executives and their reports did to our clients. All the unethical service and labor practices sums up how demotivating it is to work at State Street.

Regarding company culture; the mandate for employees to Return-to-Office to improve company culture. What a joke. Leaders have not cared about company culture since the early 2000’s. Last year, they were eager to use this mandate for this year as a catalyst to lay off employees.

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Post ID: @4qms+1kN3fTfv

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