In case you missed the earnings report, they have reduced staff by 3% and plan on aggressively reducing staff to be replaced by AI. They consider employees liablities not assets. I have tried and tried to get out but being middle aged is tough. The discrimination is real. I hope the younger generation leaves and doesn't deal with this BS. BTW the employees that are not coming into the office? Their bonuses were NOT impacted. This means they were effectually making more than the rest of us su-kers going in. Unreal.
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I worked for state street for 30 years was laid off twice total. The first time was 2011 thanks to boston almost wiping all of princeton out. The second time happened this past january. I got a full year off paid and got a job as a full time custodian. I cleaned up state streets cr-p for 30 years they dont care about you. Now instead of paying 391 every 2 weeks in benefits with a 3000 family deductibel i pay 70 bucks a check and everything is covered. Good luck to all run! No AI No Robots and no stress!
Corporate Speak: Reducing reliance on headcount. Continuing contributions from headcount to drive value.
@OP Does the earnings report say they have reduced staff by 3% in the last quarter? In a year? I didn't find it. Thank you.
The future is in India and Poland. Management is very open about this in meetings. Near future, users will confirm their work by using AI as their checker instead of a human as is done now. Got to support managers lifestyle especially those who wear $1600 Chanel shoes.
Not only are these people not going into the office but they also are not doing any work at all, yet somehow are rewarded with bonuses and raises. They steal credit and throw innocent workers under the bus. Employees that work hard are laid off or pushed out. State Street is a giant landfill for employment. I wished I didn't leave my previous employer and join State Street. Every year for 12 years, I work in constant fear because of layoffs and stupid people in management. This is by design to make you work harder or quit. Either way the company always win.