Apparently Aug 2nd will have some layoffs. Not sure which areas
Anybody have more info on this?
11 replies (most recent on top)
A lot of people in the Toronto State Street office are being laid off. Rumour has it that the GCO investigations office in Toronto will be closed by February or March of 2019, and the closer was confirmed by a VP.
I was a managing director in Fund Admin in Boston up until this summer (I left voluntarily) and I can confirm that their plan is to move 85% of the US workforce to India by the end of 2019. Some groups are at 50% or more already. If your group is not at 85% now, more layoffs are coming and a good financial report in Q3 is irrelevant.
Hi Everyone, I just got a job offer from State Street Atlanta Office. After reading all these posts about how SS is a sinking ship and there have been several rounds of layoff across the board. I am not sure if I should step in. Any Thoughts?
Totally agree with last comment. 1-3 let got every now and then. The people still around for 2 months and then they’re gone. Hard to tell who is leaving by choice and who isn’t. Those you are suddenly walking around with giddy, happy smiles on their face are probably those waiting out their 2 months to go by.
What people need to understand is they do not broadcast which departments are going to be hit.
Their prefered method is to lay off 1 to 3 people in each dept hoping other people do not notice.
That is why many employee's ran the who got laid off network.
If somebody did not show up or vanished during the day we would call our other friends in other departments.
PS they might as well change the name from State Street Corp to State Street India
Quincy MA office continuing non-stop with layoffs thru end of year
Well it’s august 7th and I think I’m calling BS on specific dates.
All groups have been effected by layoffs in the past. Believe me many persons in my Linkedin network have been laid off or left before being laid off. This includes some who are still currently working at State Street and of course many who are currently working for Brown Brothers, JP Morgan, BNY Mellon, etc. Some of my former peers transitioned and became stock brokers, CFA's etc.
It doesn't matter how old you are my advise to you is to leave State Street ASAP.
I know someone who got laid off last week. He was there 18 years in middle management. He said months ago his position was going to India.
What group?
It is happening in my area this morning. Watching my phone to see it rings