Thread regarding State Street Corp. layoffs

Sell everything and downsize now!!!

@Post ID: @XN0LtG1-hyui

Your right if your over 50yr companies do look at you as too expensive, if you go for jobs that pay less. The companies considered you as a desperate person who will take any job.

LOL well lets see I rather have a job which pays 25% less than end up homeless.

People over 50yr are not going to show up late, take extra time for breaks or lunch, spend time chatting or texting on our cell phones.

Some of you have no idea how hard it is at after age 50 to find work. I was a VP and no one wants to hire me, I was highly compensated and now regarded as too experienced for lesser roles I apply for.

@XN0LtG1-3hnn I agree and of course most need to earn a certain salary to survive and especially if you have a family. Already suggested but sometimes you need to reinvent yourself and do something else entirely, sell real estate, life insurance or work in a different aspect of financial services. What about teaching a few college courses or becoming a part-time professor ?

@XN0LtG1-crp Why would you want to move to another country? Of course all companies are hiring younger and cheaper but if you are a former VP you should be able to find employment at another organization. Maybe you need to transition to selling real estate, life insurance or reinventing yourself as a trader, CFA, etc. Of course I don't know what department you worked in just a few suggestions.

I wonder what the best CEO Marsh Carter would think about the change at the once great State Street.

When Marsh ran the company every worker was treated with respect , treated as a valuable asset to the company.

The workers who did not give 100% but gave 200% ++ because of the way Marsh ran the company and treated ALL the workers

It depends on your field. I know of several 50+ people what got high level jobs but they were all technical and kept their skills current. They got jobs in a couple of months.

it depends less on age than on title. if you are over 50 there are many associate level jobs you may qualify for. on the other hand, good luck finding a VP level job paying six figures because there aren't that many of them

@Post ID: @XN0LtG1-2ska

Same here lucky to get a 2 or 3 month contract job, currently working 2 low paying part time jobs.

I remember signing up for a job coach at unemployment, and wow did I get an useless id--t.

I told her how I get even get the dreaded jobs on third shift due to the number of people out of work.

Said I even am willing to take a job which pays 20% to 30% less just to have some income coming in.

The response I got from her was " Oh no you don't want to do that it comes across that you are desperate for a job and do not value your self worth.

I responded " So when my tiny unemployment runs out its better for me to become homeless than go for a job which pays less, but will allow me to have a home.

59 here. SS let me go 7 years ago. Only positions I have been able to secure were 2 contract positions that totaled 5 months of work. Lucked out in severance package and was able to be put on SS early retiree health care after COBRA. Have been looking for lower paying jobs too. One interview I had the HR rep said I would be bored with the job I was interviewing for. Really? Wait until that individual has to go look for works when she is given the boot.

This is true in every corp company. They want young ,cheap employees. Once you hit 50, you are considered old. Have 5 friends going thru this now. Very sad situations. They can’t seem to find a job that pays enough to live on. Some have to sell homes and all of them are depressed. They keep looking, but realize they have to look for a lesser job to survive. AGEISM is real ou there! Good luck to us all!

I know several people over 50 who got jobs in 1 to 5 months. Can I ask how HR determines your age other than listing years of graduation or going back too far on the resume?

Companies want younger and cheaper employees. It costs less to insure them as well. Younger workers don’t hav3 families yet, so it just costs less overall to employ them.

The worst age to be right now I’d 40-55 with kids. You’re too expensive to employ and insure.

Not in banking industry. Just curious. If you are a VP, you probably done enough hiring yourself. Wouldn't you know exactly what banks want?

These stories ring true for me. Have been out of work since 2015. Posted on job sites with absolutely no interest.

Called off my expensive wedding. Fiancé isn’t happy. Doubt I’ll find a job making $200k plus bonus ever again. I’m only 47 and things have gone downhill fast since I lost my job.

49 here. Got laid off last year and can’t find a same level job (VP) as I had with same pay. Heck, I can’t even find a job paying 30% less, they are only hiring younger and cheaper.

Thinking of moving to another country.