Was State Street once a great employer? I've been here for a few years and all I have are bad experiences. But some of my older colleagues keep swearing that this was once a great place that respected employees and treated them as an asset. It's hard to believe that from where I'm standing.
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I’ve been here 7 years and I can say state has been super cheap, discriminatory since I’ve been here. They hire people thinking they should be able to handle at least 3 other persons job. I’ve been told many times by seniors my primary goal as manager is to cut headcount as much as possible. State is cheap.
@Post ID: @igbn+1dc5xIty
Yep once the money hungry bean counters took over State Street went way down hill.
Employee moral dropped
The quality of work being done dropped 50% once it was outsourced
When we had the helpdesk in the U.S the workers will smart and efficient when it came to resolving issues. I didn't mind opening a ticket since it was a paper trail on the problem.
My issue was once the helpdesk was outsourced outside the U.S the people were nothing but script readers.
You call with an issue and 80% of the response was , " Hmm okay let me assigned this to a Tier 2 person BYE
I understand sometimes a Tier 1 person cann't fix the issue and has to give it to a Tier 2 person.
When its a serious problem I need it fixed now , not a callback in 10 minutes, not 30minutes, 1 hour +++
I was a contractor in the late 90's for Y2K. It was great - everyone was friendly, helpful, and we still got work done. Then I was hired as a regular employee in the early 00's. Still great, but thing started going downhill once they outsourced the help desk, and then there was a massive re-org and no one knew who did what any more, so you couldn't just call someone up and say "Hey, the database is down. What's up? Can you fix it?" No you had to create a ticket and then wait for an eternity for it to get fixed. Awful. And now it's just a handful of us old timers left while it seems people who get promoted are the jerkls.
Yup.
I started in 1982.
Back then you went through a 6 week training course.
For some, the good news was if the instructors felt that you were above average in the training, you were sent off to work.
The bad news was, that meant you were heading somewhere that needed workers due to staffing needs.
And some individuals were let go if the instructors felt you could not keep up with the classwork.
That happened to a couple of individuals.
You did all phases of the position.
Until it was broken up into portfolio accountant fund accountant, audit group etc.
Then once the outsourcing of work to the various countries happened, that was the kiss of death for me.
India seemed to be going off some type of script on their work.
I talked to an AVP that needed to visit India to see how thew worked and train them.
It was an oh boy after she informed me how their conditions were.
I know a few individuals that are still working there.
One keeps on getting extended on his release day.
Last I heard, it was the end of the year.
Originally, it was suppose to be March of this year.
I was let go in 2012.
3 months away from a full 30 years
The pay is far lower compare to other financial companies and minimum or no pay increase for the last 10 more years.
@OP+1dc5xIty - I started working for State Street in September, 1987 and I agree with
@4lgi+1dc5xIty about when Marsh Carter left as President. I already had some work experience before starting at State Street but believe I was very fortunate to have been hired by them. I was laid off in February, 2014. Fortunately, I also obtained my MBA degree since State Street offered a generous tuition reimbursement program. Overall I believe I was very fortunate to have been employed by State Street as long as I was and it was a very positive experience for me.
It is definitely not the same corporation that it once was.
I started in 1989 and it was a company that cared about the employee. It changed totally after Marsh Carter left as President....all downhill from there. I was laid off after 30 years.
Was a great employer at one time. Started in 1989 right out of college. Was laid off April 2019. Last 10 years seamed like a different company. Did not care about the client or it’s employees. Got a job a at a great company in different field. Will be there 2 years end of this month .
@Post ID: @OP+1dc5xIty
Its true when I was there from 1980's until 2000 it was a great company to work for.
Ever worker from the lowest grade to the highest grade was treated with equal respect.
Then sadly the mad craze of cutting expenses started in 2000, at 1st the layoffs were only ever 4 years.
Then it became ever 2 years until it is now a yearly event