Heard some rumours about layoffs already this year. Anyone got info
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You are right about SSB getting rid of its most experienced workers and one of the reasons is costs. There is another reason and that is that the Management -- who are populated by yes men-- are often embarrassed by these senior workers and in turn fearful for their jobs, so best to remove the problem as opposed to addressing their own short comings. Anyways a company to avoid unless you are offered some massively good deal.....
Yep..i run a consultancy company and one of my employees is deployed at SSB in Europe. We where just given an ultimatum..lower the rate 30% or we fire him
I refused the 30% reduction on behalf of my company..the next day he was given formal notice.
Suggest that this companybshould be avoided like the plague by contractors..as thier ethics s---.
Like you I thought why are they only laying off the experienced people with years of experience.
Its because they look upon us as being too expensive to keep, so outsourcing our jobs is very cost
effective.
They been doing this for the last 15 years and no, they do not care about the declinging quality of work being done or customer satisfaction.
They only care about the al mighty $$$$$$$$$$$$$$$
Oh boy this is the 7000 happening then? Where have they been occurring what departments?
Maybe they are slowly winding down .... It's not normal to keep kicking people out of your business - the years of experience and skills being lost will take years to recover from. Something just isn't right about the whole thing.
The most AWFUL place to work. People who have dedicated their whole careers to the Company - here today, gone tomorrow. It's a sad state of affairs that $ are the only driver. They seem to keep the wrong people too - clueless and gettihg away with it. The place has no heartbeat. And what happened to good old fashioned loyalty.
I know that layoffs are occurring because I was laid off a couple of weeks ago. We'll see where they go from here.
@@RhPoo17-6yig
It seems maybe the air vent is your area is clogged which explains why the Mind control drugs in the air are no longing affecting you. (lol)
Remember the company motto !!!!!!!!!
Be grateful you have a job
We already have laid off/outsourced thousands of jobs
Do you want a raise or keep your job
Work work No independent thought Conform Be Productive
We are not getting anything for this. Just got the 2017 financial results for the company and it is all very good ending results ...Memo also talks about the tax reform ...they explain it us going to 40 matching .which they all ready do, technology, employee learning and charitable giving. No mention of money in our pockrts.
One would think with the past 5 years no or little raises they might consider at some point to actually directly impact their employees but nope.
Town hall is next week.
Maybe during the Great Recession but this is literally inexcusable. They are either corrupt or have zero business skills because it should be a boom right be robust hiring instead of 7000 layoffs.
Look at the stock price. It’s through the roof. This company is insidious to its employees treat ppl like sh--
Not a rumor they are laying off employees soon. Promised people they would be redeployed but now they don't have enough open spots for people who need to be redeployed.
As a long time employee of 25 years who was discarded 3 years ago your right.
The problem is State Street is getting rid of most workers who been with the company 15+ years.
They are considered too expensive to keep, even though many are excellent workers with a large knowledge base in their heads.
That is why the quality of work has suffered the pass few years, too many new people who have no idea. Before the new people would have workers with years of experience to help get them up to speed.
Now the joke is anyone who been in a dept for 3 years+ is considered a senior employee
In my experience State Street layoffs at anytime of the year. Although, most layoffs don't begin until February from what I can recall
If they indeed intend to layoff 7,000 before 2020 the layoffs should begin with more frequency going forward.
Does anyone really know what will happen ? Unless you work in upper management or are good friends with someone in upper management most of us can only guess.
Every year I hear of layoffs of long-time employees that definitely didn't deserve to lose their jobs.
Is it truly a rumor if you start it yourself?
Think I would look at this post as a phishing scam.
Quiet right now