We’ll be lucky with the regular bonus and meager pay raise if we get one whopping 2%
How come STT can’t give us s tax break bonus why not us?
STT has benefitted tremendously with the easing of D-F and other regukations. Why so stingy?
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@RiyUCRj-eyxo I agree with everything that you said. It is very discouraging to go to work everyday and be editing/revising the work that is supplied by India before it can be sent to the client. Although, I do know of many in my network that have been displaced by State Street and are struggling to find a decent employment opportunity. It is discouraging to hear the president and many others tell us about the low unemployment rate but many of those who are not unemployed are underemployed if that makes sense. I have many in my network who are earning 50% to 65% of what they earned at State Street. You cannot survive and pay your bills if you are not earning a decent wage. Especially if you have a family.
@ID: @RiyUCRj-ggrx
Sorry but ever Ceo since 2003 has been a total loser destroying a once great company
We should just be thankful that Jay Hooley will be gone soon. Not that I expect anything to change drastically but even a few small changes will help.
Agree very disappointing 401k match invrease.. Greed is limitless at SS current management. Charitble giving?really? So now I have to open a charity for myself?
Would have been nice to respect and reward remaining loyal employees once.. as the stock market soaring and tax breaks given... but no
Pretty sure Hooley will not be hit with a 2% increase ...
So as I suspected it’s going back to the 6% we used to have. Wow he’s generous. Smh
I attended the town hall today and Hooley stated that the tax cut is going to be spent on charting contributions . ..he outlined exactly where in that regard, Internet like training similar to online classes at a college and he explained how complicated and costly that sort of training is to be put together. And the increase to 401k contributions where he proudly stated impacts over 90% of the employees who participate in it. Guess how generous? He is increasing the matching from 5% to.....,gasp ...... 6%!
No joke how he was able to stand there straight faced like he was giving us the world.
And on the Q and A first question of course us about raises and bonuses and he pretty much came out and said he wasn't going to talk about that.
@RiyUCRj-6qqv As a former employee of State Street I agree with everything that you said that I copied below:
One thing that kills morale besides the yearly layoffs, no raises, no bonuses.
Is when you read about the millions State Street donates to the ARTS.
Reading about their various donations to the theater clubs, music clubs and so on
Not just State Street but many large corporations are the same way. I have a lot of current and former employees in my network so know exactly what goes on at State Street. I knew about the continual migration to India long before it was a known and unpleasant reality for the many employees of State Street. I don't understand how their reputation hasn't been effected by how they have influenced the unemployment rate of the state of MA. Many of my former colleagues are currently looking for employment anywhere and plan on moving when/if they find another position in another state. Just my take on the situation at State Street and many of the other large financial institutions that have a large percentage of clients that are corporations in the mutual fund industry.
They don’t care about morale sharing the wealth or Anyone of us.
One thing that kills morale besides the yearly layoffs, no raises, no bonuses.
Is when you read about the millions State Street donates to the ARTS.
Reading about their various donations to the theater clubs, music clubs and so on
JP Morgan raises and bonuses thanks STT. Cheapskates
So they’ll go back to 6% March instead of 5%. Whoppdee. Other companies did that awhile ago. This company is greedy and just selfish at the highest levels. So much for sharing the wealth thanks to all our hard work!
No changevon layoffs either. I just read some company is going to cut back on their planned layoffs.
Not STT full steam ahead on that.
No tax cut bonus. SSB just said this cut is going to be used for increased technology and increased training of employees. Oh and enhanced 401k whatever they mean by that.
They boast about how well the company is doing financially but give little if anything to their employees. Oh they did state they greatly appreciate our hard work and our contributions to their success.
It just dawned on me the excess millions will be a going away gift for J and his retirement party. Don’t think we’ll be invited though.