State Street averages 2.5 Billion in profits in the last 5 years but layoffs is the norm (usually 2-3 times per year).
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@1m4
Welcome to our experience in the US for the last 20 years. It's called Quiet Firing. In the UK, its called Constructive Dismissal where there's laws against it. We don't have such laws in the US.
They use these tactics on US employees to move jobs to India. Now, State Street overlords are trying to replace you too. It could be because the work being produced in India is poor (many errors), data leak (there's been a big push on cyber security), they found cheaper labor, or all of the above. Coincidently, there's a job req that was recently posted where they are looking for someone that can reduce errors in the India with the use of automation. The automation could be a guised to use AI to replace not only Indian workers but workers globally.
Urgent Concern from Within State Street Corporation (India Offices)
I'm reporting a serious ongoing issue at State Street Corporation—specifically within its India operations.
Recently, there has been a sharp rise in employees being placed under Performance Improvement Plans (PIPs) and terminated without legitimate cause. These are not based on actual performance concerns, but appear to be a covert method to reduce headcount without officially declaring layoffs.
📉 This internal push is seemingly driven by cost-cutting targets and quarterly renewals, not employee merit.
⚠️ Employees who joined last year via a Joint Venture (JV) merger are being disproportionately affected—many still transitioning into the corporate structure, now let go without clear feedback, documentation, or fair evaluation.
💬 What’s more alarming is the lack of transparency, the manipulative use of PIPs, and instances of managerial harassment under the guise of performance management.
This is creating a toxic work environment, severely affecting morale, and raises ethical and legal concerns, especially regarding offshore labor practices.
🆘 This issue needs urgent attention from media, labor rights groups, and regulatory bodies.
I am sharing this anonymously to protect myself from retaliation.
#ToxicWorkCulture #IndiaJobs #StateStreet #Layoffs2025 #WorkplaceHarassment #PIPAbuse #LaborRights #Whistleblower
This is an Indian company, and clients still work with us.
More Jobs to India equals more clients leaving. So soon no clients.
Heard of hiring freeze? Cut and freeze.
@g3+1jvjeqmjw He's coming out?
That’s because your company is a joke and you just lost Franklin Templeton as a client and guess what - more are leaving too.
I turned down an offer to work here based on this discussion board and other research I did. Just a quick google search and a job candidate can find all they need to know about a company.
When was the last time Ron appeared in-person for town halls? He should come out of hiding and address our concerns.
The company has been doing layoffs for 20 years.
Doesn't matter how big their profits are, they still do layoffs.