Thread regarding State Street Corp. layoffs

If you got laid off, you’ll find a much better company!

Someone mentioned H1Bs. It’s deeper than that. Many in EMEA cannot get laid off due to country job protections (e.g., Italy, Germany) yet are leveraging skills from 25-30 years ago! And let’s not even talk about beefing up staff in communist China. So yet again, the USA worker gets sc--wed over by these mostly old white guy execs who “got theirs’” (outrageous pay etc.) and now will layoff a performing white person over a marginally performing non-white person. Categorically, this is the worst company I ever worked for. Yes, some good people, but backward, disconnected processes throughout the organization. Anyone with fresh ideas gets steamrolled by internal politics. 1-800 third tier outsourced to India HR. No 360 degrees reviews for middle managers - a political free for all. Advertisement of skip level meetings, but no execs actually conduct them. And an outdated assembly line mentality how people should be treated - and sadly for the overall organization - they miss the mark in getting the best out of their people. The days of operating as such are numbered. Buying companies to stay afloat (and then ruining them) will only succeed for so long. If you lost your job there, don’t fret - get a better job. Don’t waste your time on this company. There are better ones out there!

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| 2011 views | | 6 replies (last February 3, 2024) | Reply
Post ID: @OP+1qNTa1uv

6 replies (most recent on top)

Why is the board and executives constantly increasing their compensation and the regular US employees getting shafted?

The board and executives should be penalize and face repercussions for their incompency. Their earnings should be forfeited if the goal is to reduce company expenses. No more fancy perks for these crooks. Since they instituted the Return to Office mandate, they need to take the MBTA to work and sit in cubicles like the rest of us. Everyone will be excited to surround our dear leaders for 'collaboration' after many years of mistreatment.

Any extra savings should be allocated to promote, reward, and keep local employees. If they want to reduce headcount then provide severance. Stop being greedy and cheap by forcing us to voluntary quit. All the company is doing is creating resentment and disloyalty among the workforce.

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Post ID: @6xrf+1qNTa1uv

@Post ID: @OP+1qNTa1uv

The problem is every company is the U.S has been abusing the H1B system to replace
highly skilled U.S workers in the fields of IT, Engineering, Finance , Medical research.

We have millions of people graduating from Colleges, IT schools, even Trade schools who cann't find decent jobs.

I remember when the big lie was, companies only hiring H1B workers when they cann't find a skilled U.S worker . Or companies only hire H1B workers for
short term assigments of 6months to maybe 18months

Funny a lot of those H1B workers have been working in the U.S for 5+++ years

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Post ID: @4zse+1qNTa1uv

This post nailed it- my sentiments exactly. Job market is dismal at the moment though.

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Post ID: @4jiq+1qNTa1uv

This place is so dysfunctional. North American employees get so sc--wed.

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Post ID: @4rrr+1qNTa1uv

@Post ID: @3qzu+1qNTa1uv

One thing people need to understand is HR aka Personnel aka Human Resource.
They work for the company not the workers. If you have a complaint they will
create a file about you and add this complaint.
When the time comes for layoffs they pull of the people they deem as trouble makers and give to to Senior mgmt, who will use this info to decide who gets laid off.

The only time HR really gets involved is if a worker has documented a serious complaint which could cost the the company a multi-million dollar lawsuit.

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Post ID: @3yzu+1qNTa1uv

Totally agree with this submission. More layoffs to come next week. First wed of the month. The executive team is so bad at managing this firm. Especially Ron and Eric. And HR Kathy is a puppet with no real voice in what’s right. They make terrible decisions and still give themselves enormous bonuses to keep up their high net worth lifestyles (yachting etc). The board is who I blame who allow it to happen. If they stop focusing on themselves and the quarterly earnings calls and start focusing on their clients and employees they would turn this sinking ship around.

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Post ID: @3qzu+1qNTa1uv

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