Thread regarding State Street Corp. layoffs

Move to JAB

Moving to The John Adams Building on Tuesday. Anyone who is there now know if it is as miserable in there as I have heard it is?

I am all for the change because I live on the South Shore and no longer have to take the commuter rail but I am nervous of the atmosphere. Always been told it’s the building where dreams and careers go to die.

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| 4211 views | | 14 replies (last October 8, 2019) | Reply
Post ID: @OP+11guDfY7

14 replies (most recent on top)

Don't work for State Street. You are being moved to JAB because that is the offboarding location (where jobs go to die). Did you see all those big signs for 2022 that were posted everywhere earlier in the year? 2022 is the end of their big transition. It is the point where they will have offshored 85 percent of their workforce to low cost locations (read cheap countries where they can pay pennies on the dollar for workers). They will only have 15 percent remaining in the US - if that. The heaviest concentration of that 15 percent will be in their new Congress Street office (that they are currently building). There are presently 4 buildings in Quincy. They own 1 (JAB) and lease the other 3. They will get rid of those other 3 by moving personnel systematically over to the JAB building as they lay people off. That is another reason for their sudden work from home arrangement. They plan to start a desk share setup. No one will own a desk. They will share it. The guy who wfh on M-W-F shares with the gal who wfh T-TH. They are only automating certain portions of their operation. Others they are actually clericalizing. By breaking existing work down into entry level clerical functions? They can have an army of cheap clerical workers overseas. As they eliminate jobs, they are forcing people into the clerical roles they are offshoring (getting the roles ready, hiring and training the offshore personnel). People have been reassigned (with no notice) to suddenly start doing massive amounts of mindless clerical work. Regardless of the impact that has on their careers. If they object? They are told they're not a team player, then laid off. (Which is preferable for many). As they let people go? Others get fed up with the enormous workloads they're saddled with and leave. Severance packages are being cut. People are not waiting to see where they will be placed. They're bailing. Hopefully for the company? They will get everything overseas before they have crippled themselves to the point where they can't function. I hope Donald Trump gets re-elected and starts penalizing them and any other company taking jobs out of the US. Tax the c-ap out of them so that they relocate the jobs back. I suspect there may be discrimination lawsuits coming because they are clearly discriminating against higher-paid US workers. In terms of working there? Don't do it! You have no guarantee that the job they say you'll be doing is what you'll be doing. You will definitely be overworked if you are under AVP level.

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Post ID: @acgc+11guDfY7

Post ID: @11guDfY7 I have worked for State Street and a few other companies. My experience at State Street was a very positive experience and I acquired a lot of knowledge of the financial services industry. Before I joined State Street I worked for a few small companies where I really didn't learn much and wasn't appreciated.

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Post ID: @7fon+11guDfY7

@Post ID: @11guDfY7-5qfx

Lol tell me about it, instead of leaving the well trained State Street IT staff alone.
They want to do anything their way not to make things better, but to make themselves feel
important.

I knew a few groups who expressed dismay at the support they got when they had to contact IBM
Instead of the old State Street your number 1, it was more like yeah we put you on a list and get
back to you.

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Post ID: @5zfw+11guDfY7

I worked at State Street IT for 18 years. Based in Quincy, Got to travel around the country. BUT then they sold us to IBM. Worked from home, on call 24/7. Micro managed to the extreme. I am now happily retired.

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Post ID: @5qfx+11guDfY7

In case you haven't heard the old sayin'.... State Street is where you go if you want your career to die. No one goes to State Street unless they absolutely have to (i.e. no one else will hire you). Hate to burst your bubble, but State Street is not a good place to work.

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Post ID: @3lgv+11guDfY7

@Post ID: @11guDfY7-3nwz

Just my opinion but they have 3 buildings in that area all accessible by the Redline stop North Quincy.

One building is right next to the station, they other one is a 3 minute walk across Newport ave

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Post ID: @3rlq+11guDfY7

It is a great building. But the commute s—s..there is a 3.5 miles stretch from SR-3 to JAB which takes forever..it takes me a minimum of 25mins to cross that. Not sure why they want to retain that and close down crown colony

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Post ID: @3nwz+11guDfY7

Besides having a decent cafeteria & Starbucks coffee. Each floor and section also have their own
private lunch area with fridge and tables.
During the spring , summer and fall you can sit in the beautiful court yard for a change of pace.

There are worst buildings you could work in, some very bare bones amenities.

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Post ID: @2hgg+11guDfY7

JAB is a good building with ample parking & a decent cafeteria & Starbucks coffee. I commute from the South Shore area but the commuter rail & red line don't work for me.

I work from home 2-3 days a week. On the days I drive in, my commute I'd 60-90 minutes each way. Awful! The commutes have gotten longer & longer in the 5 years I've worked here. I think it's due to a strong job market.

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Post ID: @2key+11guDfY7

Wake up please and have the correct information. They have added over 5000 operations jobs to India in the past 20 months. The goals is 85/15. They are now at 50 percent. The outsourcing is very real and quite prevalent and a top priority.

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Post ID: @2ker+11guDfY7

I will give you the famous line Senior mgmt has been saying to the workers.

Be grateful you still have a job

Be grateful we have not outsourced you yet

Now get back to work work work work work

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Post ID: @1qze+11guDfY7

Post ID: @11guDfY7 It isn't a terrible building and if you live on the South Shore you might enjoy working in this complex. I don't work in this complex any longer but did work in Quincy for several years before except a new position within State Street.
Some of you are very negative and I don't agree with the constant outsourcing but I always enjoyed working for State Street.

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Post ID: @1yav+11guDfY7

My team moved there not too long ago. If you use to work at the Channel Center then get ready to step back into the 1800s when John Adams was walking around.
I drive in now and the traffic is horrible everyday. It takes me 35-40 minutes to go 8-9 miles to work.

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Post ID: @1cvq+11guDfY7

Wake up....You work at State Street....your dreams and career are already dead. Unless of course you are one of of the senior Executive team?

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Post ID: @1uue+11guDfY7

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