Share any updates you may have about State Street Layoffs 2020? Any news or rumors?
13 replies (most recent on top)
@125y5QLX-2tyt I agree with you about moving to a competitor. I am a former employee of State Street who doesn't work in the financial services currently but a different industry entirely. Although, I do believe that it is easier to leave and find a new position if you are a recent graduate or at least under 50. For the older worker who worked for State Street for many years, it definitely isn't as easy to find a new position whether you were a VP or someone who didn't receive many promotions.
@125y5QLX-1lmp 1% of the people working for the company today worked for Marsh Carter.
@Post ID: @125y5QLX-3mat
When your work load is doubled and sometimes tripled, when you go years without
a raise or bonus. When you had to endure the years and years of the stress of layoffs, wondering
am I next on the list.
You have to think about your self and make a decision which benefits you and not the company
I know of an entire team that up and left for another company. State Street was not happy which thrilled the hell out of me. I am moving on quite soon myself and could not be happier. I look forward to the new technology failing like all the other tech projects of the past. Being in any of the Boston offices is like being in a zombie movie.
What departments do you work in where everyone is just hanging in there. In Global Services, attrition is through the roof. There's no need for layoffs when everyone is moving to the competitor.
@125y5QLX-kwc is 100% correct.
Buckle up is right.
@Post ID: @125y5QLX-1lmp
Why does it bother you I post the truth about Mr Marsh Carter ???
Does @125y5QLX-xvg paste that same Marsh Carter post on every thread?
People just making stuff up. They have no more of a clue than you do. Every Week someone posts a comment about the upcoming Wednesday being doomsday. Layoffs happen but in very small numbers. He predicted a 2019 market collapse too
Markets will decline and a sell off will occur in 2020? If so, then all jobs across all industries will incur layoffs at all levels of every company. If your let go then you can collect unemployment wages (God Bless the USA). Maybe you might receive some additional compensation from your employer (severance pay), and you can look for another job in a multitude of industries (healthcare, finance, energy, etc.)
@Post ID: @125y5QLX-kwc
As a former worker who was let go after 27 years of service.
Yes I remember the glory days of State Street when the best CEO Marsh Carter was in charge.
He treated every worker with respect and made them feel like a valuable asset and not an expense
to be discarded.
That is why everyone gave not 100% but 150% perfect.
After he left what did we get CEO's and their money bean counters who believed to increase profits.
Do layoffs , outsourcing and to add insult to injury bring in H1B workers to the U.S offices.
i guess 11/20 would be better than 12/24 for the next round so we will all know how much $$ we can afford to spend for our kids Christmas gifts this year :-(
First we must get past the layoffs scheduled for 11/20/2019. We will lose many colleagues on that day. The rest of 2019 should be relatively quiet. The damage for 2019 will have been done.
Now onto 2020. Expect record layoffs. The economy is weakening on a global basis. The political headwinds are many. The markets will experience a significant sell off and like a good lap dog the State Street executive team will follow with significant layoffs.
You think you are overworked and underpaid now my friends? You will look back on this time as the golden era and wish we could return to these good times.
Buckle up.....