Just wait and see.
12 replies (most recent on top)
2019 will be the worst.
State Street is laying off 7000 people by 2020
https://www.google.com/amp/s/www.bostonglobe.com/business/2016/03/29/state-street-official-pegs-staff-reduction-workers/89HmTzw98F6AvUCVyA9A4I/amp.html
Yup.
It is going to be so much worse than you can imagine.
Huge layoffs coming in 2019.
44% to be laid off....
Wait for the re orgs and brace for the crash...
You ain't seen nothing yet.
2019 is going to be a horrible year.
No
Layoffs are still going to happen regardless of the Q3 report. 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.
SST PENSIONS
State Street stopped offering pensions to new hires around hmm 2000 or 2005 ???
The people who had a pension had them frozen and all they got was simple interest of 2 to 4% a year
Latter on they reduced the matching contribution to the Salary savings plan
Good times....good times
Itis the season for goodwill towards all....not st STT fear prevails.
At least those of you with pensions still it’s better than us workers ten years in and never getting the opportunity for a pension try saving for that too along with barely making ends meet. You’re the lucky ones
Yes former workers working at a job making 30% to 40% less
Working 1 full time job and 1 part job trying to make ends meet
The people who loss their homes because they could not afford them on their lower income.
Not a struggle for j. He gets to leave the mess he created with hundreds of millions to retire with early. Good gig if you can get it.
It’s amazing it’s going to get worse a lot worse. I’m physically going to get sick from the workload. Is work related stress a valid workers comp?
Post ID: @Qo5NhiV
I agree with you that the next few years are going to be worse. For anyone complaining about life at State Street just ask many of the former employees of State Street. So many of my former peers are struggling to make ends meet and many of them have families. Especially for anyone living in the Boston area where the cost of living is/was always one of the highest in the country.