Thread regarding State Street Corp. layoffs

No, work from home employees are already slotted to be laid off. That’s why they let you work from home, you are not worth prime office space and the cost that goes with giving you your own personal work station or office. So before you get all excited, realize you are more than likely going to be the last of the layoffs before your job goes offshore. Your simply kept on the payroll while the transition is in play. But they won’t tell you that, you’ll get a great review, a promotion even and a small raise/bonus until they chop you off as dead weight. By 2020 work from home jobs will be gone.

Anyone else find it ironic that those complaining of work from home employees are posting here during working hours.

You can as easily screw around in the office and not do work as you can at home. I feel you get checked on more when you work from home via IM here as those in the office are going out for coffee breaks and surfing the net.

The idea is you hire professionals ... people you trust to do their jobs either in the office or at home.

We had to have two thirds of our group work from home 3 days because then you share a desk and it saves money on space. We did not have a choice and it is one of our goals to promote work from home. And you think since most of our co-workers are overseas in India we need to be able to work remotely anyway.

The move of many types of work is remote this is the way things are going everywhere.

I want to say that the group I was in, pretty much everyone got let go, two people got redeployed and there were two people who are still with the group, one of them a manager and the other person, who some how gets to work from home everyday, and never followed the group work from home policy.

My old manager used to let me work from whenever I needed to. I never abused it, but I definitely was working fro home ar least 1-2 days per week. I felt like I worked part time and was very disconnected to the group I worked in. Long story short, my manager got laid off one year and later the entire group was outsourced and I too was let go. Be careful how you think you’re safe working from home. Working from home is a red flag you’re not that important, or at least your job is not that important. I did this for 3nyears and it definitely did not help me advance in my area of work, in fact it set me back. In retrospect, I would prefer to be more face to face for meetings and in the office maintaining good work relationships.

Next time I have to apply for a job, I'm applying as a man identifying as a modern woman in her childbearing years, lol.

There are many problems which have been allowed to keep festering at State Street.

1. The abuse of working from home when it is not needed.

2. Pets of the Bosses who are given way too much freedom to slack off at work. Basically they are

paid just to show up and do nothing, or be given the easiest projects, lightest work loads.

1. And what about single people who are abused in the following ways listed below.

Since your single your the one asked to work a saturday or sunday since your single and have

no family or life.

Being asked to work a holiday since your single and have no family or life

@x2nPynW-1mmh wins the internet today.

Spot on, lol.

LMAO!

Hi. I’m a modern woman, in my child bearing years, looking to gain employment at VP level or higher where I can work at least one day from home, or better yet, two days from home so I can schedule my babies’ appointments and take them to Montessori school. I can also schedule my Botox appointments and all my hair and nail appointments on days I work from home and squeeze a couple of hot yoga sessions in between my conference calls. I want EQUAL pay and lots of benefits. And if I find a man who I can drag to the alter, I’d like that, too, even if he is already married. Do you think state street would hire me?

Asking for a friend.

Bad managers hire bad employees.

Layoffs aren't the solution to bad employees. If they're not doing the work or working from home without actually working, they should be fired. Sounds like the manager isn't doing their job and should be gone as well. Managers allow this happen and continue.

Was that person menopausal, lol? I find those types hard to please.

Yup, worked with someone who complained about everything. It was exhausting. No matter who was working on what, this person complained. It got to the point where no one invited them to meetings and no one wanted to collaborate on anythingwith them. They just gave them the sh-- projects to work on and hoped they stayed in their office. Every company has these toxic people and they are always the loners at work and first to get cut.

We lost a VP in our group who had an anger problem. If you p-ss-d this person off, watch out. Many of us avoided having to work with this person because of their inability to work without having a temper tantrum every time someone challenged their work or suggested a different way of doing something. It was clear from the very beginning they weren't a good fit and a bad hire. I'm grateful for layoffs, they are necessary to get rid of problem employees who don't work well with others. Angry people are problem people. No one wanted to work on anything with this person. That is dangerous for a company to have that type of employee, as it affects productivity and office moral. They are toxic people and cannot take any criticism. Even when they get laid off, they tell people how they were a victim, which is not true, they have anger issues.

I want my pajama day work from home day.....

waaaaaaaaaahhhhhhh why do things have to change???

I gave a feeling when Mr. O'Hanley sees all this working from home nonsense, he's going to blow a gasket and call a meeting with all levels of management to end this wasteful spending.

You can bet your last State Street dollar this perk is over soon.

;)

Wow!!! So much truth here! Abolish the work from home as it only serves the people who have kids. How can they really work when they are caring for children? It's not fair to those of us who don't have children and have to be in office 5 days a week. I'm tired of the people who have children getting special treatment of an extra day at home. I'd like to sleep in and work in my pajamas one day a week, too.

This is great news. Going to enjoy watching all the people I can't stand get the axe.

Don't let the door hit ya on the way out!

Karma is real.

Ha ha ha. State street is going to cancel those working from home perks, lol!!!!

Sure it's all women who work from home (heavy sarcasm). Here in New York there have been entire departments and positions that have been required to work from home. There are many men in my department who work from home, two full time. I don't know what's going on in Boston but the idea that people who are working from home are stealing from the company is ridiculous.

Ever see one of these 40+ aged women with kids work five days in a row? They physically can’t. By day five of work week they look like hell. Most of them with small kids get little to no sleep, then they have to keep up with their job expectations, they don’t have time to exercise or cook healthy, so they look haggard, overweight and 15 years older than they really are. They can only handle a 4 day work week because they are doing two full time jobs, raising kids and working (kinda) at state street.

Let’s just pay people for four days if they physically can’t handle a 5 day work week. It benefits everyone, especially State Street.

The “working from home” used to be for only certain people who got approval by management and HR and they were usually people who traveled a lot and very senior key people. Over the years it has been assumed if you are a woman with children, you automatically get to work a day from home. And that is life at state street. Women dictate what hours they will “work” and everyone just sits back and says nothing. Well not really, many of us talk sh!t about the injustices that these women who abuse the work from home policy. Is does not snow every Friday in Boston. I for one have never laid someone off who shows up to work 5 days a week. Productivity is better when people are in the office, I’ve witnessed this first hand for years. People who are out of the office more are eventually deemed less critical as a needed employee. Just putting facts in this so you know how management really arrives at layoff names when the time comes.

Every female in my group works a day from home, usually on Friday. It’s insane, and you can never get a hold of them, there’s always an excuse, kid needs mom to drive them to/from school, nail appointment, car in shop, etc. it’s always something as to why it took them 3 hours to respond to an email or call. Even when they are in the office, half the time they are shopping online or chatting up some married guy after a meeting at the water cooler.

I’m an assistant, I see it all.

@Post ID: @X2nPynW-1kdn

I have to agree with you on working from home was only allowed during severe snowstorms.

The few lucky people who were allowed to work 1 day a week from home were usually

a critical on cal person who worked from home.

While the rest of their group was in the office, this way when the group left the office , the person

at home was available for any emergency calls.

Thank you, Mr. O’Hanley! Keep getting rid of all those overpaid, dead weight employees! Make State Street Great Again, lol!

Wow, harsh. But true. The people on my floor that work from home are noted and gossiped about. Especially the women, I don’t know any men that work from hom, they all come to work in my group.

State Street... we know you read these boards. Do the math. Add up all the days these slackers who work from home cost the company so they can care for their kids or start their three day weekends early.

It’s staggering how much people abuse the “working from home” perk that used to be authorized for emergencies like bad weather.

I will never lay off anyone who shows up five days a week. I don’t care if you have kids or whatever your excuse is. Work is work. Show up. Otherwise you are the one who is susceptible to being let go. Out of sight, out of mind. If your group can survive without you one or two days a week, they can survive without you entirely.

If you are working two days from home, YOU are replaceable and unnecessary.

Face time means something.

I’m noting this as well, working two days from home is absolutely an abuse of company policy.

Everyone working from home needs to have an outside surveyor measure the actual benefit and risk of this scenario.

No one on my team works more than one day away from office, unless traveling for business.

What’s next? You want to live on an island and still get paid? You must be so valuable that no one else can actually get out of bed, look presentable and get their a$$ into the office and do their work. You are so special and gifted in what you do, huh?

I will never approve of this request going forward. Lazy people work from home. I know this for a fact, I see it day in and day out.

Somewhere a former state street employee who was laid off is smiling.

Anyone who worked there and was laid off knows how much better life is post state street.

Oh and this is just the beginning....these layoffs are going to be huge numbers, beyond what you will comprehend. I know this for a fact.

Find a new job while you are still employed.

That is all.

@Post ID: @X2nPynW-1whe

You sound like a lousy mgr who doesn't know how to do their job.

Not every one who is lucky enough to work from home 1 or 2 days a week is slacking off.

I know people who work from home and they get instant messages from coworkers and mgrs asking for an update on an issue , or questions.

So its amazing a person can work from home and take off for 2 to 4 hours and never get a call on their cell or instant message on their PC

If I was the mgr my 1st quesiton would be I sent you an instant message what took you 2+++ hours to respond , or I called but went to voice mail and its been 2++ hours .

I agree with the working from home nonsense. It’s got to stop and I’m passing this on to senior management and HR. I’d rather not lose people to layoffs than pay people took “work” from home. I too see the waste and reduced productivity. Many of my people work from home on Fridays, only to find out they are on the golf course or starting their three day weekend on Thursday nights. It’s not just the mothers abusing this perk. And it’s unfair to pay someone who is ultimately not in the office. My employees who don’t have children never work from home and they ultimately pick up the slack for those who take a day from home. When I have to submit my group’s layoff names, it will not be the people who are in the office 5 days a week, I can promise you that.

I was told there are going to much more people laid off than the 15% reported and they are stealthily doing this every quarter to avoid the headlines. It’s so bad, if they reported the true percentage, they plan to cut, the number would affect other things they are trying to keep hush. And it’s not just over 50 age people getting cut, they are targeting everyone. No one is safe.

Best not to buy anything you can’t afford right now...especially that overpriced house with the big mortgage.

The working from home perk is a joke. If state street wanted to cut costs, then schedule a 4 day work week and only pay people for four days work. I am making 250k, if they only paid me for the days I came into the office, my salary would be $200k.

State street, if you are reading this, working from home is wrong. I don’t do anything on days I work from home. And be honest, the women are not either, they’re being mommies. This perk went from on occasion in an emergency, to a weekly, entitled perk for working mothers. Either come to work or be put on a 4 day schedule with pay adjusted to reflect 4 days of work. If state street did this, there would be fewer layoffs. People are abusing working from home, it’s stealing. You can defend it up and down. People abuse it, especially women who have children.

Ha! I left state street in 2014. Best thing that ever happened to me. Got a better job in a better state with a better house. Basically, I got a way better life and I invested the entire 100k severance package in the stock market and quadrupled it, lol. So there is hope! I don’t have any debt either. I always knew it’s better to live like you have no money and save everything than live a lie to impress coworkers and neighbors and people you don’t even like.

I still live like I have no money, lol. My friends always joke with me about how I have this high paying job and I drive a sh#tbox Driving a sh#tbox weeds out the gold-diggers, too. Nothing worse than working your entire life and then some woman decides to divorce you once you’ve made all your money and takes half. My wife married me thinking I was poor. She never has to work unless she wants to, because I can pay all the bills! And our kids are happier with her home.

So yeah, about those layoffs...lol. Save your money early on in life!!! There’s always a rainy day in the future.

49 here. No debt. Paid my mortgage off last year (only had a 15 yr mortgage). Never let the wife talk me into buying a bigger house we don’t need. We live in an upscale town, house has doubled in value, I see no reason to trade up, ever. Both cars paid and are 4 years old, plan on keeping them 15 years as they are Toyota’s and will last longer than my managers Audi.

Choices, people. Most of you are in debt up to your eyeballs, which is why you won’t survive a layoffs.

My coworkers spend stupid money on clothes and bllsht. They complain about bonuses and lack of raise, yet all they do is spend beyond their means. If you can’t make 200k work for your finances, you’re doing it wrong.

If I get laid off, I’ll still be living like a king because I’ve got plenty of money saved and no debt.

Mind boggling how people can’t manage their money, or make a VP’s salary work for them.

Oh, and I work from home one day a week... I sleep in and do minimal “work”. If state street really wants to save $, they’ll do away with this perk. I basically do nothing when I work from home, maybe a phone cal or two. It’s truly s---ing money from the company.

@Post ID: @X2nPynW-1agu

I am amazed that your over 50yr and still at State Street, only because, people over the 50yr were the 1st to be let go by State Street.

Many of my former coworkers were able to find a new job after a 1 year 2 year search, but are making 25% to 35% less .

But they are grateful since most companies see people over 50yr as expensive instead of being seasoned workers.

For the person who noted work from home women...talk about s-xism. We have as many men working from home as women . And working from home I actually put in more hours. I log on about 6:30 - 7am. I might leave for a half hour to do car pool but then I tend to be logged on until 8th or later.

When I go in the office I work from about 8:30 am til 6:00pm.

I see the same from both male and femake co-workers.

I am over 50 and hoped to last 10 years for retirement but will need to look elsewhere.

At this point it is a worry that the most that are being laid off have mortgages and families to support and as noted are in a pool of employees noted by recruiters as being "seasoned" employees. Harder to find jobs even though they have probably the best industry knowledge as the concern for companies now us lower costs rather than quality.

I also got the email of the drops in bonuses with no mention of raises but since raises are 1st recent if you get one I doubt there will be any.

I saw an email that went to MDs yesterday. Bonuses are being cut by 25-35% and salary increases are being reduced. The email did say the % cut on salary increases but in a good year, 1% was normal so they must mean no raises.

So long overhead. Software and cheap outsourced support staff has long replaced you. Time to refocus on the client facing personnel who bring home the bacon.

What’s great about this news is NO ONE IS SAFE!!!

Even if you survive January’s 2019 lay-off, there are many more in que.

Enjoy your anxiety meds, you’re going to need them.

Oh and with more stock market turbulence, there is no telling how deep the cuts will go.

Pro tip: stock market headed for 15k. Plan accordingly....State Street is.