All the years with chronic layoffs and I have yet to see real time honest tangible accurate detailed information on here. It’s either ppl complaining about the company or former employees giving bad info or insight and worse still the trolls that lie pretend and are sickos. I wish when I got on here there’d be real advice and real info but I rarely come on here anymore asking for help advice or info. If you are an actual employee keep doing your job if there’s real evidence of your dept laying off get your resume out there but remember no job is safe no job is forever and make the best of wherever you are
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Employees need to develop some survival skills, like taking vacation days to train and paying for your own training to ensure they are marketable. I know plenty of people that do that in a variety of companies, especially IT people. However, it takes time, effort, and personal sacrifice to ensure employability in the long run. The employment market is likely the best it has been in decades, but who knows for how long, so actively looking with updated skills is important.
Yup. Happened today. Reduction in force. State Street is a loser company anyway, good riddance.
Seriously did upper management just find this website? Look at the stock price action for the past year you can see where this company is headed. I’ve seen team and team shipped offshore and now all clients have caught on to this mess. Execution was never a State Street “thing”
@Post ID: @ZiQXUSo-6gge
The skills they have are the ones they learned over years as State Street, skills the company used.
I do agree on training but the issue is, the company is only going to pay for skills they approved, not for skills they have no need for.
Another problem is State Street was about 20 years behind the time when it came to updating its
computer software and technology.
I give credit to the incredibly resourceful IT staff which some how kept that ancient software and hardware running.
I think SSB offered more opportunities and benefits years ago. The current benefits are just average now, including those offered by some smaller companies. You also have to be motivated to use benefits, like tuition reimbursement (and front your own money). Retraining and life long learning are essential to continued employment. From my experience, many SSB employees don't necessarily do that and have skills more suitable for the 1990s.
@ZiQXUSo-3vvxv I agree with everything that you said. It doesn't matter where you work unless you own the company or work for a relative who owns a company no position is ever safe.
I am an older worker who has been in the work force for many years. Working for a large corporation like State Street was a great opportunity for me since I gained valuable experience, lived overseas and State Street paid for my Master's degree. Many/most small companies don't offer the same learning opportunities or benefits.
My advice to anyone at any age depending on your role is to keep your excel skills current, retrain for a new position by studying for some of the series exams that are required of other investment roles and of course obtaining an advanced degree which just isn't possible for many of us unless the corporation you work for offers this benefit .
Although, I do agree that this constant outsourcing is very unsettling for anyone who is still working for State Street Corporation. Unfortunately, it isn't only State Street that is outsourcing some of their positions. Many of the other large financial institutions have offices in India, Poland and other global locations.
@Post ID: @ZiQXUSo-3vdk
The poor dude thinks the CEO and othe high level Executives are actually going to go to the News and give them updates on the up coming layoffs (lol)
If a company told workers they were going to be let go within 3 months ,6 months.
The workers would start looking for other jobs and then leaving.
Which would leave the departments without staff.
That is why you never know until you get called into the office for the bad news.
@ZiQXUSo I have no idea why you would start such a negative thread and what you are expecting current and former employees to post. It is a real concern for anyone working for a large corporation who constantly experiences outsourcing of entire departments.
I’ve heard that ridiculous line layoffs next Wednesday the end of the month the third Wednesday of the month same BS same lines Anyone wanting real help with layoffs go to your friends go to LinkedIn don’t come here you’ll just get lied and c r a p I rest my case it’s the same lines you’ve been feeding ppl for over 7 years.
Ronald is that you?
@ZiQXUSo-dcx —you must be an officer or below(losers category)
@Post ID: @ZiQXUSo
Your an id--t, I bet your a pet of the boss who gets special treatment.
The easiest assigments, flex time.
Why not give examples of what type of information your looking for.
If your boss told you in 3 months you were getting laid off what would you do ?
You would start looking for another job before you get laid off.
That is why the boss never tells the workers anything, they cann't afford to have them start
bailing early.
You want news? Lay-offs coming next Wednesday. Brace yourself. Not just work moving to India but a straight reduction. So those not impacted, your job is about to get that much harder and 12 hour days will be the new norm.