Not sure how many people are holding on until they are retirement (or early retirement) eligible. I’ve got less than 3 years and I’m just keeping my head down so as not to be singled out for the slightest things. To be honest, the thought of spending my last few years anywhere but here is frightening. Just thinking about trying to find another job makes my head ache.
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@Kzmn+1bXGTP7E
Where is it being mentioned that this site is used for financial direction? I apologize but I don't see it mentioned anywhere. Anyone who has worked in the financial services industry for a while should have a good understanding of the stock market. I have been doing my own investing since graduating from college. I am not a CFA or CFP but have worked in the financial services industry for a while.
Very sad and heartbreaking to see how America is being gutted internally by sending all our jobs overseas. The super rich will get wealthier and contribute little to the society while they ra-e the country for all the tax breaks and advantages their fancy high paid lawyers and accountants can get. We complain about China and others while we continue to send our treasure aboard. The man on the street is being polluted with nonsense about patriotism and freedom and external threats while the politicians and powerful sell us out. people jus take it, complain and whine.. Wake Up, our laws have to change so everyone is fairly treated whether a billionaire or average citizen. There is enough for everyone yet we continue reward the corrupt and the greedy. Wish all you guys all the BEST while I pray for this country for a true and decent leadership.
Please for god sakes don’t use the site for financial direction. Hire a freaking wealth manager.
@Post ID: @Guck+1bXGTP7E
Sorry but you are 100% wrong, why would a company hire a person 50yr + when they can hire a younger worker for 30% to 40% less.
For the last 20 years companies only goal is to cut expenses through any means.
Layoffs, Outsourcing H1b workers, Temps
Your ability to get a job after 50 is dependent on field. For IT people (or audit) with current skills it is not that hard but many lack skills that are in demand. I had two offers in under 30 days. Layoff was a blessing in disguise.
I am a former State Street employee who has posted on this site many times. It is very sad to see so many employee's still getting laid off. I really don't know where they expect everyone to find employment. If you are over 50, it is almost impossible to get hired by one of our competitor's.
@1wrg+1bXGTP7 - Even if you are over 60, many 60 year old's still want or need to work. Fortunately, some former State Street employee's have transitioned to becoming a life insurance agent or real estate agent. I also know of some in my network who were laid off in 2012 and 2016 and have only worked a few contract positions since that time which is considerable. Of course, if you did a lot of your own investing, you might be able to survive until you reach retirement age. Everyone is in a different living situation and if your spouse or significant other is successful than you might not have any financial concern's.
I got out of SSGA in 2015 and so glad I did. It was the most toxic place I have ever worked. Managers in other departments would go out of their way to ruin and undermine your work. The amount of pure hatred among the departments was astounding. Its amazing to me that the company has lasted this long. Working at State Street is like being in the mafia. You all get whacked at some point. I wish you all the best!!
Bank leaving new York city offices. Saving money.
I see a layoff first part of September. Gives us 30 days to transfer work and 90 days in TMP. Year end - byeee
DaaS experience will improve. Do you really think SSC should continue supplying individual PCs to all it’s employees when there is absolutely no need to? Do you realize what a cost reduction this is for them? Many of our competitors have made this change long back.
What’s wrong with hybrid?
The daas network is not capable of supporting everyone at the same time.
It's a joke, reflection of how little State Street values your time
Hybrid workplace? Why bother?
They need to get rid of the lame senior level mgmt and managing directors who make decisions in a vacuum with no real understanding of the downstream effects AND the clueless consultants they hire to advise them!!!!!!
They need to layoff lame managers. They won't. Bad decisions will keep coming.
Feeling like a layoff soon.
You guys know the end game is to destroy everyone’s wealth, right? Just ask Klaus Schwab….
@Post ID: @OP+1bXGTP7E
Sorry trying to stay out of sight doesn't work at State Street.
You can work 60++ hours a week
Work weekends and holidays , but when the time comes nothing is going to save you from being laid off.
If you can make it till your 55yr you can access your penison without paying a penalty
If you can make it till 59 1/2 you can access your 401k without paying a penalty
Make it till 62yr and you can get early Social security if you want, but its better to wait till your 65yr for full benefits.
Finally your very lucky to be an average worker with a record of 25+ years and still be there.
Sadly at least 75% of the people over 45yr are long gone
I wonder how many people are hoping to get laid off to secure a year of retiring early.
I have been with SSB for 25+ years, would love the golden parachute to bridge a year before I can apply for SSI.
Sadly the only ones who choose their time are VPs and up.