I remember...

I remember it was the dream of every graduating high school and college senior to get a job at this company.

To get a job here meant you were set for life with a good paying job, chance to advance up the job ladder and job SECURITY SECURITY SECURITY.

Prior to the year 2000 the company rarely had any layoffs, until since 2000 where laying off and outsourcing is the norm.

I remember after being laid off in 2000, visting the few few remaining people I knew in 2010, 2015 and 2019.

As the years went by I noticed the yearly increase in workers from India replacing U.S workers

Comment! It's anonymous!

9 replies (most recent on top)

To all reading these posts. You need to subscribe to efinancialcareers.com. They have some very interesting articles and job postings that are some of the top positions in the financial services world. If you are still young and have the proper credentials and the money to attend a top graduate school your education could help you secure one of these top positions. Just a thought for anyone who wants to leave State Street. I worked for State Street for many years and do have an MBA degree but not from one of the top prestigious schools.

@Post ID: @ziyd+19ERgitn

Over the years I am my coworkers who are still working their, have noticed one thing.
The quality of the helpdesk and other support units has gone from an A down to a C.

Due to laying off the experienced workers the knowledge base is a C

Forget H1B's. STT is hiring people in India to work... in India. US and Western Europe are too expensive now so they're moving more and more jobs offshore to India, Poland, and China. It s—s, but I can't blame them for cutting costs. The question really is are they going to cut too much? It looks like they are, but when the cost of living in India is a third of Boston's it isn't surprising they're offshoring like crazy.

YOU remember.....Just work hard and all your dreams will come true. This is not your grandfather’s company that they will pay you for free.

@Post ID: @sbki+19ERgitn

Sorry there are many U.S citizens getting degree's in Stem and other computer fields.

S companies like to hire H1B workers because it is far cheaper to do .

Second and what does this have to do with people in their 30's 40's 50's being replaced by
H1B workers.

I hope you also noticed young Americans enrolling in army to serve while Indians/asians worked to get STEM degrees and take these jobs in America.

What is 411?

Please excuse that rude person above.

Cool story grandpa, now tell us how you use to have to dial 411 to get a phone number.

Thread regarding State Street Corp. layoffs

I remember...

9 replies (most recent on top)

Post a reply