SSBT is now the worst bank with little to no regard for employees, especially if you are UK/USA based. Company is riddles with consulting firms. Hire cheap labor, think HCL, stating they are cheaper and available 24x7, while their delivery is less than an hour. Employees gets crushed completing their rubbish work. After all company makes it onerous on a FTE to stay so they don’t have to pay severance.
Consultants demand results from FTE and managers turn a blind eye if you complain. You will be on the list if you do complain. Environment is set up such that most managers tell their directs to install fear not to go up the chain for reprimand in subtle words. Regulatory nightmares are shoved under the carpet, without any fear of consequences and employees are the scapegoats if they ever get caught, while maangement is ignoring alarms employees raised. This company needs a wake up call from many regulators across the globe.
Nepotism has ruled this place where one EVP moves along, next one joins, brings their cr-p from wherever they came, and then they dictate changes. They all pack up & leave once they realize that they cannot deliver on what they overpromised leaving old timers, if there remains any, to collect the fragments to make it whole.
If you think you are going to make a career here, be aware that you will make career in working you ar-e off with zero raises and little to no bonus.
10 replies (most recent on top)
Sadly have to agree. State Street, as an organization, works tirelessly to fire employees living in the USA, and hire Ireland, Poland, India, . . . anyplace but here. They hate us. We are not even as valued as used office furniture. Every day, another few colleagues disappear and a new email/teams account is added from Ireland, Poland, India . . . anyplace outside the USA they can save a dime.
They sure don't care about people. Advice to anyone looking for work: if you can't find another job and land here, start looking right away. If you find anything else, g.t.f. out of here asap. At state street, people are used lawn furniture. its especially distressing to her H.R. throw those absurd slogans "People are our most important asset". Yeah, right.
The consultants that are working on behalf for senior management need to get off their high horse. They're like the spoiled brats of the company where their parents (evps, svps) allow them to do whatever they want. They get pay more and can freely work remotely. I recalled in one meeting, one of them was wearing their bjs while I'm being force commute to work in the Boston cold and sit alone in the office just to have a talk.
I just don't get it, Ron. The consultants are expecting employees to clap and cheer for presenting work that they stole from employees?
Outsourcing and the rise of H1-B visa workers happened.
Post ID: @6jrr+1r5xmOcp let me guess they did not care at all.
I worked here for 33 years - you think they would care a little when they laid me off
State Street is a total dump. Take it from a long time client and soon to be former client since we are in the process of moving billions to another admin.
@Post ID: @2upf+1r5xmOcp
Sorry but if you can understand the post, the 200yr and forward was the decline of a once great company.
PS I worked for the company for 25 years so I know what I am talking about
Don't you get tired of posting this all the time. It is more than 20 years so no one cares what it used to be in year 2000. Get on with the times.
Post from TheLayoff.com
This used to be the place every High school and College grad wanted to work for.
You could start at the bottom and through hard work work your way up the job ladder.
Raises and Bonuses for the average worker used to average 3% to 6%.
Everyone working there was happy because the Mgmt treated them as human beings and not slaves to be abused then discarded.
Then around 2000yr some of the great Senior Mgmt left others retired.
Then the black cloud of greedy new Senior Mgmt and their Bean counters came in and started destroying the employee morale through yearly layoffs. Workers sometimes going 1 to 3 years with no raises or bonuses. Workloads being doubled to make up for the lack of new staff.
If you want a career avoid this company at all cost.
But if you want to be emotionally abused daily, wake up every day with a headache, upset stomach, feel constantly stressed out then this is the company to work for.