I am glad for those who left and found better opportunities, but I also envy them a little. I'm so tired that I'd most rather do the biggest stupid thing - give notice even though I didn't find a new job. I just don’t have any motivation to work. I believe there are many who feel similarly. How do you people manage to motivate yourself to work here?
23 replies (most recent on top)
Just came across this thread. BBH is a mind numbing place. The offices were beyond gross, the employees were soul-less robots at best. Managers looked scared 24/7.
@Post ID: @7Jzcn+1cFnQhXG
Prior to 2000yr State Street was a great place to work for.
Every high school and college grad dreamed of working for State Street.
Starting out in entry level jobs and working their way up the ladder.
Wages, benefits , bonuses were good and that is why 99% of people stayed here until
they retired.
The old motto was " Employees are our greatest asset"
Since 2000yr the new motto is " Employees are our greatest expense and must be cut through yearly layoffs, outsourcing and brining in H1B workers to replace highly skilled U.S workers.
All BBH workers will have a Merry Christmas and Happy New Years
They still have a job and survived being part of the State Street slave factory
As a current BBH employee and after reading this thread, I am eternally grateful that this merger/acquisition has failed. BBH isn't perfect, but it is a pretty darn good place to work. We have lost a significant pool of very talented people as we waited and waited for this deal to be finalized. We will rebuild, although it has been very difficult to attract any talent these days. Many colleagues went on to increase their base pay by 30-40% and are working in new industries mostly remotely. Good for them. I decided to ride it out and maybe for the first time in my career on Wall Street, things will work out ok. State Street employees.......please apply to BBH. There are many good jobs and the culture sounds to be superior to STate STreet. Additionally, you won't be looking over your shoulder every quarter
@Post ID: @OP+1cFnQhXG
As an old timer I know once I do get laid off , I am not going to find another good paying job due to my age .
So I stay and hope I can make each of my financial goals.
- Make it till 55yr so I can access my pension penalty free Done
-
Make it till age 59 1/2 so I can access my 401k penalty free 18 months left to
reach this goal.
I doubt I will make it to 59 1/2 but I hope I do
It is a depressing place, but they seem to put more management layers in the hierarchy despite the reductions of the lay staff.
This place has become a place of employee misery.
I seen people I know from different departments, now eating their lunch at their desk.
Doing the combo of eating and working at the same time.
The fear of if they leave and actually go to the cafe sit down eat and relax their boss
may get mad at them.
When I see my coworkers come in with a sad face and lack of energy due to the fear and stress of the yearly layoffs.
Doing double work loads because of the layoffs .
No longer do you see happy people chatting any where in the company.
Just tired stressed employees
I am feeling the same and I hope it makes you feel a little better knowing you’re not alone! I’ve been just focusing on my work and learning as much as possible and networking as much as I can until I am safe to leave. I may not have a job lined up when that happens and that’s ok, I don’t think interviewing while they have me working to the bone is a good idea as I’m stressed and burnt out as it is! Don’t need new employers to see that :) hang in there and always remember your health, happiness and life always comes first! There are a million ways to make money outside of one singe job . And honestly if you wanted to take a step back and do bear minimum at your job and just ride along you probably could- seem to be a lot of people doing that in my team- terrible for me because they make me pick up the slack.
My layoff was a blessing. Found I better job for a lot more money and I much healthier work environment (in under 30 days). BTW: I am over 50 so it is possible to do if you are right field.
SSB seems to have a lot going on. According to Bloomberg, citing sources, the firm is aiming to sell off State Street Global Advisors. It is probably the easiest todo because it was designed to be separated after 2008. They are also issuing stock and suspending buybacks to cover BBH acquisition. Both likely to result in big shakeups.
Wow, what a bunch of ungrateful wimps. Grow up. It’s a job. A paycheck.
No wonder you’re all so miserable, you have the wrong attitude.
@4tof+1cFnQhXG
Many BBH employee's already worked for State Street. I know of several of my former colleagues who ended up leaving State Street for a better opportunity at BBH. Of course finding a new position does many times depend on your age and experience. Either way, this is not good news for employee's at all levels who live in Massachusetts.
Yes I feel awful for those individuals that need to leave BBH and work for SS.
I wonder what type of health care BBH has along with 401K plan vs. SS.
What I remember in the SS/IBT merger was SS stopped funding pension accounts but you were still allowed to earn interest .
Once I was at a certain age and could withdraw the pension to a retirement plan without the early withdrawal fees ,that I did.
The BBH workers will suffer the same fate, as did the State Street IT workers.
When the company outsourced its IT support to IBM
Hundreds of highly skilled State Street IT workers lost their jobs to IBM workers
@Post ID: @1hjm+1cFnQhXG
If you already work for State Street, looking for new job internally, can also be a bad step.
You could get a new job then find out your dept is being cut or its going to be outsourced 100%
Remember there is no safe place at this company, outsourcing and layoffs have been going on since 2005.
BBH employees aren't going to be happy with the ssb dysfunction.
@4ptv+1cFnQhXG
I agree that anyone who is still working for State Street should make sure to update your resume. It is only a matter of time that some positions will be eliminated. I also know that you may have an opportunity to get rehired as a contractor. It all depends on where you are in your career and if you intend to retrain to do something entirely different.
The BIG $$$ efficiencies Ron O detailed as a result of the SST acquisition of BBH will come in the form of layoffs. Get ready....
I did this. I am in a much better place now.
Breaking news: State Street to Acquire Brown Brothers Harriman Investor Services
State Street Will Become the World’s #1 Provider of Asset Servicing1
Brings Together Two Premier Businesses with Significant Scale to Drive Benefits for Clients and Shareholders
Earnings Accretion Expected in Year 12
State Street Increases Pre-Tax Margin Medium-Term Financial Target
Not good news for current State Street or BBH employee's. I imagine that some of these positions will be outsourced to India or eliminated. Just my humble opinion. I don't know where they expect people to find employment. These large corporations don't care about the average employee.
Find something anything outside of work that you enjoy to help with the mindlessness you have to deal with all day long. In the meantime look for a new job internally. They do exist. If it none of this works look externally. It is easier to find a job while you still have one. Change it up get out of the financial industry to avoid future PTSD. Good luck!!
To the "thankful" commenter... I am thankful, but things at State Street have changed. Time for me to make changes now, too.
I feel the same. The work is mind numbing and goes in circles. Sr management is mostly flash and buzzwords, little substance. Every Monday gets harder and harder. I've set a date where I will roll the dice and just quit.
Tell them to be thankful they have a job?