What is SST doing with all the buildings on the South shore , are they selling them or renting out floors to earn money.
I just heard on the news how they have plans to move headquaters to One Congress tower in Boston.
And did they not move some operations to the Waterfront ??
Any news on their building in Westboro and Grafton ???
Yes I know STT gets tax credits and a deal on the new construction.
Just they have spent over 15 years doing the yearly layoffs, and not renewing rental leases to save
money.
So spending money to build another new building is just a kick in the teeth to the people being laid off.
they won't even start to break ground on Congress St building until summer 2019....it will take YEARS to complete....read between the lines.
oh and don't forget when all else fails...
"State Street (NYSE:STT) jumps 8.2% after announcing it's plans to cut about 6% of its workforce, or about 1,500 jobs, to cut costs"
every time they need to boost share price, they'll do a layoff.
Commonwealth of Massachusetts makes deals with companies to have their locations at such and such locations. Very political. Deals always benefit the company’s bottom line. Got to keep those high end vacant office buildings out of the news until the stock market crashes later in 2019. Then, all bets are off and the media will report about the real raw details about the recession/depression and all the big companies going under and dissolving.
Tax incentives.
Job reductions will still be at 48% by end of 2019.
Dude, what?
They are going to get bought out. (Shhhh, keep it a secret, ok) Right now they are wheeling and dealing with RE deals, has nothing to do with new space for the working slaves they're trying to unload during the next 11 months. After the merge all the duplicate jobs with be further eliminated.
They can buy real estate and lease it. Keeps people like you thinking things will be okay...lol.
Do some research....
You won’t have a job. Get over it.
Dude try doing some work and see the article about 1 Congress tower. wait I will do the work and post the article for you .
Financial services firm State Street Corp.’s recent decision to exit its headquarters at One Lincoln Street near South Station for new offices in the Bulfinch Crossing development will clear the way for the construction of the tallest new office building in Boston since 1984.
Recall that the 43-foot, 528-foot One Congress is a key component of the under-development Bulfinch Crossing project on and around the Government Center Garage downtown.
Did u not read the articles?
They are laying off “high cost areas” (all of Massachusetts) and sending rest of the jobs to India and Poland by end of 2019. Maybe a few jobs or be kept in Kansas City, depending on who they merge with.
The SSB campus has been shrinking last few years in Quincy. Some building leases were not renewed. With all these layoffs, I wouldn't be surprised if they just transfer remaining employees to Boston and close shop in Quincy.
all jobs gone by January 2020.