Any info on this?
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Any info or rumor about the number of dismissed employees across all locations affected by the layoff?
My manager straight out said we will be responsible for more than we usually do. That being said she told us there are things we need to just take from India and not review. We need to find where the higher risks items are and just look at those and send to the client. That we have to accept that a certain about that f errors will get by.
So seems there is an increased level of acceptable errors. And we are just to bypass some items without looking at them.
@1b6 clearly.. as youre posting on a state street post 2 years later
Just reinforces my decision to leave in 2024 after 20 plus years. Grew tired of watching fellow employees being run into the ground and treated like garbage. Left with a smile and forgot about this place five minutes out the door…
@18v thank you. Its sickening reading this. I dont know how they expect us to work with all these looming layoffs.
When they lay you off you pay the employee rate until your severance package runs out.
Then if you want you can keep your insurance for 18 months by going on
COBRA.
You will no longer being paying the employee rate but 100% of the full premium.
Which means you could pay from $1,300 to $2,800 a month. Based on whether your single plan or family plan.
@191 this content was all out on the sharepoint. it must give great comfort to our shareholders that such sensitive data is maintained by an unreliable offshored function. what other key business process has Ron decided to save a few bucks on?
Hopefully notification date data formats better this way and is easy to read.
Manager Training-------------------Employee---------------------Employee Termination
Notification Date----------------Notification Date---------------------------Date
1/6/2026-------------------------------1/21/2026------------------------------4/3/2026
2/24/2026-----------------------------3/11/2026------------------------------5/29/2026
4/28/2026-----------------------------5/13/2026------------------------------7/24/2026
6/2/2026-------------------------------7/15/2026-----------------------------10/2/2026
9/8/2026-------------------------------9/23/2026-----------------------------12/11/2026
10/27/2026---------------------------11/11/2026----------------------------1/22/2027
12/29/2026---------------------------1/13/2027------------------------------4/2/2027
State Street has implemented The 2026 Global Workforce Optimization program. This program consists of 7 different scheduled layoff notifications. Below are the dates for Manager Notification Training (Required training for Managers who will give employee notification that their job has been eliminated), Notification Dates and Termination Dates. This program is Global, North America, EMEA & APAC. Training and Notification dates are same across all regions, Termination Dates differ slightly for EMEA & APAC. Termination dates below are for North America. There most likely will be another phase of this for 2027. Also, many of the employees notified on 1/21/2026 were given poor performance evaluations (below a 3) for 2025 which allows manager to give others better than a 3 and still conform to the bell curve and also allows them to cut bonuses up to 75% and distribute to other employees. Beware for those who get notified on 1/13/2027. Many, many long tenured employees greater than 20+ years of service have been targeted in the first 2 notifications of 2026.
You will receive an email from Talent market place within a couple days of your notification with several attachments. Forward that email to your personal email address. At some point you will no longer be able to send emails from State Street with attachments to your personal email address, without those emails being reviewed by an internal team first. Your first 30 days after being notified is supposed to be spent Transitioning your work to others. After the first 30 days, 100% of your time is supposed to be spent on working with Korn Ferry the outplacement firm and trying to get another job.
As long as you sign the Release agreement (will receive this approx 2 weeks before termination date), for the duration of your severance package, you will be able to continue Medical, Dental, Vision under Cobra at your current cost, you will have the option to convert your Life Ins & ADD if you like, and you can continue other benefits as well. You will now be required to make benefit payments directly to Fidelity, they will no longer automatically be deducted from your pay once you are on severance.
Manager Training Notification Employee Notified Termination Date
1/6/2026 1/21/2026 4/3/2026
2/24/2026 3/11/2026 5/29/2026
4/28/2026 5/13/2026 7/24/2026
6/2/2026 7/15/2026 10/2/2026
9/8/2026 9/23/2026 12/11/2026
10/27/2026 11/11/2026 1/22/2027
12/29/2026 1/13/2027 4/2/2027
How's the health insurance handled?
@yr you have the option after the first 30 days not to work with your current job. They hold you 60 days from taking another job. The first 30 you work with your same team but have the option to not work with them after day 30. You should receive a packet today and someone should be reaching out in email to you to explain this. Ask them! You will be required to update your profile and have to look for jobs, update the resume, and take interview classes etc. I would also reach out to have you be able to meet with an hr person at your location because that can be done but you have to ask.
@xy Can you please clarify your statement that "After 30 days you may not have to work with your group ..."? Also, is it listed somewhere as a company policy? Is it at one's manager's discretion? Thank you.
@me 2 weeks for every year of service. You have 60 days to find a job in state street. If not your off to looking and unemployment. After 30 days you may not have to work with your group again you will have options.
@wv rigged.
@b4 Corp greed? Its called capitalism. State street is not a charity. If they don't need you and can save money by letting you go, that's what every company will do. In fact they have an obligation to their shareholders to do that...and this is coming from someone who was just laid off too.
@kb I'kk take July please!
@kb What happens on these days? How long do you stay on payroll after being notified of layoff? Is severance still 2 weeks of pay for every year of service? Will the current year of service be prorated?
@a5 global delivery had been destroyed. Join the flock!
@je you should get a packet within 2 days download and print the first one out and save asap. The second one will arrive on your official release date. Ensure to change your profile in workday all to your main email address at home as the primary. Call hr/ghr and ask all pay stubs to be emailed and sent to your house. 3 on the day you are let go call fidelity if you are going yo opt out of any benefits. You can keep certain stuff like life insurance 4 times the amount as i pay monthly for that. I believe that goes for a year. Any other questions ask the Raven .
@km there's content no SP if you search for 'manager notification'.
@kb Good News Wednesday! What a joke along with career development.
@g3 upcoming notifications:
- 5/13/2026
- 7/15/2026
- 9/23/2026
@dy do they give you your severance package information right away? Because someone I know that got RIF in Europe was told last month but won’t know the severance package until April after her end date. Isn’t that ridiculous and annoying? But I thought in the US that you would be told right away. Is that true?
May 13 will be the next dismissal event.
I was given some names it was VP, AVP and officers names I recognized as not slackers .. they’ve let so many go now that quality workers are now next on the line.
Employee appreciation - what a joke!
@dc As a fellow employee let go after 30 years take some notes to my advice. Hr does not do a good job of informing you on stuff. Make sure you have your pay stubs emailed or mailed to your house. 60 days from now call ghr to inform them in your fidelity if you are keeping benefits or not. You can keep your life insurance for a year including 4 times your base salary or whatever you picked. Any other questions ask
@b5 my team lost 10 people ( 4 in the US out of 14). My name included after 30 yrs of non stop service to the bank
@b7 Tehran
@az Thank you for response.
What location is everyone hearing layoffs?
In GD there were 7 people near me today that were laid off. There's not going to be anyone left in the US.
Disgusting corporate greed! Those let go today in my team had over 15+ years experience each. You can’t replace their knowledge. I understand AI is one of the reasons for these cuts but the savings being created initially will not cover the amount of losses the company will end up with from all of this knowledge now being tossed away and India not being able to solve anything but basic issues. India teams push all of the problems back to the offshore teams to fix/help with as the amount of turnover in India prevents them from being able to figure out anything that isn’t obvious to a 5 year old.
@ay The OG is the Operating Group comprised of all SVPs and EVPs at State Street
@aj what is OG
Mostapha announced at the recent OG plans to "right size" the organization and cut "10,000" employees.
Nothing so far. Maybe it the 18th?
Yes, they just laid off two of my team members. They are restructuring all of financial reporting to go to India where they get to pay sh-t but get sh-t outcomes. They don't know how to do balanced entries but sure let's give them all the clients. Good luck SS. You will lose so much business with this. Corporate greed at its finest.
I’m hoping to receive a call