There is absolutely a list of layoffs coming ~ they’be done a round in technology more are coming in security. Anyone who says they’re not is lying … standby they’re using a restructuring as an excuse
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This was once the great company where many high school and college kids started their careers.
Its sad it went from a once great pro worker company to cut cost through any means.
14th? Icing on the cake for NA?
@2hf Unfortunately, I did not get to experience the golden era of State Street where the company valued local American workers. Near the tail end of that era, I was still attending school. My fellow classmates all wanted to intern and work at State Street. Often times I hear local people talking about great things about the company. They either work there or know people that do. The company’s image was highly respected back then from looking from the outside. When I did join the company, it was a total let down. Everyone is scared of loosing their jobs. I quit after several years but then made the mistake of coming back. Now, I'm in the verge of getting laid off and my role being outsourced to people that have no clue what we do.
Agree not sure how long you worked or are at State Street.
As an old timer of 23yrs who was discarded by the company.
When I started the company the experienced workers would help guide the new hires into being productive workers. And both current and new workers got along fine.
But when outsourcing and H1B started around 2000yr.
People feared losing their jobs, so the friendly workplace suddenly changed.
Some people no longer would help guide new workers because of the atmosphere the Senior mgmt created.
@2am some of the people from other teams that are asking about your work processes are inexperienced and young workers. Many years ago I was one of those workers. I was led to believe that it's to improve business processes so employees can focus on more important work and have the opportunity to become more successful in their career (lol). At that time, I was confused why these employees were unpleasant with me when I was assigned to document their work. It wasn't until later, out of curiosity, the employees could not be found in the company directory. Now, that I'm on the other side, myself and many close colleagues are facing the same experience of getting outsourced.
Good post, 1st finding an internal job is 99% impossible
Second your right when H1b workers and others who showed no interest in you as a person or your work. Suddenly shows interest acts friends big red flag your on the
layoff list.
I know a few people across the firm that been informed in recent months that their roles are be eliminated. Management give them the notice around the 20th of each month (May 20th, June 20th), and they have 2 months to find a new internal role before they are laid off. Not sure how many other people been effected or if these are stealth layoffs. But my work friends had a feeling it was coming when random non-team members and Indians (offshore replacements) are suddenly interested in their work. Now that I think about it, I've noticed a sudden rise of interests for my work as well.
July 20th is around the corner. Brace ourselves everyone!
I remember when the company had high work standards.
U.S workers had to have a 90% efficiency and accuracy on the work they did.
Then U.S workers were laid off by the thousands and replaced by H1B workers from India.
Suddenly the efficiency and accuracy standards went to hmm 60% for the Indian workers.
The few remaining U.S workers were know forced by mgmt to be the babysitters and fix all the poor quality work being done by the H1B workers.
India better figure it all out, because in July there will be very limited support in NA. No one will be around to hold your hand.
@1dw plenty of positions in china. No surprise.
This place is an energy pit. Draining.
My friend from GTS got laid off today with zero notice. And the explanation given was budget cut.
@OP I only see quiet firing. State Street is hoping to get enough people to quit so they don't have to do layoffs and pay severance. If the company doesn't get their headcount low enough, they will find other means to terminate you such as workers not obeying the return to office mandate and other BS reasons.
No layoffs.
Any more news about tomorrow?
For corp? GM? GA? All of the above?