Sorry to be the new guy here - I came from another financial institution and the leveling and roles here make no sense. At my old company we had managers, directors, and managing directors - MDs being the top. What is with the VP/SVP/EVP roles? If a layoff happens here do they cut the top of the pyramid or the bottom? I'm starting to second guess myself and my decision to come here.
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Based on the SST historical practice, saving money on employment cost is the top priority of the company strategy. It would rather to do anything to find a nice "cause" to terminate employee to avoid severance pay. This is why SST has been keep sending out employee survey's frequently on management ratings. It is simply a trick to accumulate fake data to defend the company when being sued for employment fraud and employee mistreatment.
You are smart to second guess yourself. It’s not a great culture, incessant and ineffective reorganizations, management can’t get out if it’s own way, see their own flaws or solve basic problems. We aren’t good at the basics here anymore. Our clients are ultimately sold and provided a sub par service. It’s pretty awful. CFO just randomly quotes revenue projections and expense cuts to the street without any view into if it’s possible but we have to live with it so he and Ron can keep their outlandish bonuses and keep living lives of luxury. How’s that yacht doing Ron? Your personal yacht racing team doing well? Sure hope so. Donkeys.
@Post ID: @OP+1oPMP9U9
For the last 19 years State Street has been replacing low level workers through
outsourcing and brining in Contract and H1b workers.
Then they will gut some mid level workers.
Laying up the high level expensive $$$$$ Senior Vice Presidents, Md, Vice Presidents is very very small.
Welcome to the State Street meat grinder. Be prepare to be worked to the point that you are feeling sick over you body.