Next round week of 5/10/24. And every other month until eoy.
Can anybody confirm this? Is this just guessing or has there been an announcement of some kind about it?
18 replies (most recent on top)
Someone just got laid off in the Princeton office so 5-10-24 was accurate.
Post ID: @zbdm+1rzk3Rey
Agree on all your points. However, for my area I say there are irresponsible managers that keep the appearance that work is being done and goals are met. When it become too obvious that nothing have been accomplished; the company brings in other resources to start the new cycle of the funny business.
To throw more gas into the fire, State Street is actively placing unqualified offshore workers (Indian-born) into roles that should go to more qualified North Americans workers. These Indian workers are disrespectful to people they feel are beneath them. This causes local workers to resent them and quiet quit due to no other recourse.
@Post ID: @ywpr+1rzk3Rey
The 1st problem is Senior mgmt doesn't care about how the mid to lower level mangers
treat their workers. As long as the work is being done and goals are met. They are allowed to rule with an iron fist.
Second. I remember some people I worked with who wanted to go to the HR dept and put in a complaint. I stopped them and explained, "HR workers for the company not the workers. Their main job is to keep a list of workers who complain about serious issues. Then when the layoffs come the list is used to layoff workers.
Remember the only time HR ever would get involved is if the worker had proof and was brining a big lawsuit which would give the company bad publicity in the news.
There should be better screening before hiring or promoting workers into higher-level positions. I can't tell you how often nothing gets accomplished for YEARS because of fragile egos and class status mentality. What's funny is when they talk to their superior they turn instantly into yes-men or yes-women.
All I know is when Marsh Carter was CEO, the company never had any layoffs or outsourcing.
Employee morale was constantly high as Marsh Carter and his Associates treated
the workers with respect , good salaries, benefits and bonuses.
And as for Indian Mgmt it is a culture belief that people in positions of power can treat lower level workers with no respect. Remember India is a country based on a Caste system. Where people are given social ranking status based on their job, wealth and position in society.
To the person who replied “ The only responsibility of management in private company is the prosperity of the company.” This is absolutely incorrect. State Street is a PUBLIC (not private) company. Headquartered in Boston. Incorporated in the USA. Listed on the USA-based NYSE. While it is beholden to its stakeholders, which INCLUDES its USA-based employees, it has social responsibilities, especially to the country where it was founded, is headquartered, etc.
Post ID: @8xks+1rzk3Rey
Good observation.
I've noticed another common theme with Indian-born H1B workers at State Street: they dismissed lower level employees. This might be okay with you if you don't report to them. However, the moment they're placed in management positions, there's usually turmoil.
Also this part might be anecdotal:
I know a few Indian-born VPs that were previously H1B's that are now green card holders. In discussions they still can't shake off the 'following the master' mentality. They feel entitled to treat people below like dirt. The meetings have become so unbearable that I just tune out or not attend at all. They struggle in management positions because people can't tolerate them.
If your an actual U.S born worker have you noticed the following things about H1B workers and U.S senior mgmt at State Street.
- They have no idea about doing quality error free work.
-
They thinking is " I get the work done as fast as possible to make it look like I am
a productive person.
-
How many times has a U.S worker have to send back the useless reports they
received from the staff in India. How many times has the overworked stressed
U.S worker try to explain to their Boss. The reason I am falling behind is I am
spending way too much time either fixing the error filled work from India. Or
having to send it back again and again until they do it right.
And does the Boss care ? Nope because hIs Boss and their Boss do not care
We're been getting a few Indian bots lately on the message boards. The code (or IQ) needs to be fixed with the amount of incoherence.
First, promoting H1B visa fraud.
Second, mentioning about management's responsiblilty for private companies.
What does these statements have to do with State Street that's a public company?
I'm all for replacing Ron with an Indian CEO.
The only responsibility of management in private company is the prosperity of the company. It is the responsibility of government and politicians who collect tax money and enjoy superior power to protect US workers right. Any private company can be sold to other countries anyway. Honestly, I would rather elect an intelligent Indian to be president if he/she can bring great economic success to this nation like those CEOs in Google ....
Post ID: @5okn+1rzk3Rey
Do you know that you're promoting fraud? Care to reveal yourself?
Per USCIS.org:
The H-1B visa program should help U.S. companies recruit highly-skilled noncitizens when there is a shortage of qualified workers in the country. Yet, too many American workers who are as qualified, willing, and deserving to work in these fields have been ignored or unfairly disadvantaged. Employers who abuse the H-1B visa program may negatively affect U.S. workers, decreasing wages and opportunities as they import more foreign workers.
The following are the couple of H-1B Fraud and Abuse Indicators that was outlined on the website which I see often happening at State Street:
- There is a wage disparity between H-1B workers and other workers performing the same or similar duties, particularly to the detriment of U.S. workers.
- The H-1B worker has less experience than U.S. workers in similar positions in the same company.
The company need to cut cost and bring in talents to survive. Young smart developers and managers from Indian for sure are the best choice to achieve this goal.
Thanks for sharing the website. I had a strong feeling they're laying us off but still bringing a bunch of H1B1 workers. I know a bunch of people that were victims of the Fall 2019 and Spring 2020 layoffs. To see that the company brought in 300+ H1B1 workers in the same exact years makes me despise this company. They're depleting our US workforce to justify the need for foreign workets when we already had talent and skills to begin with.
Certified
2023: 252
2022: 303
2021: 314
2020: 314
2019: 332
2018: 345
2017: 200
2016: 172
They say we need to hire more H1b visa workers to create jobs.
https://www.myvisajobs.com/Visa-Sponsor/State-Street-Bank/510214.htm
Career development requirement must be a joke. Develop my career to be offshored. Career aspirations? Someone is drinking some heavy scotch.
I can confirm it is correct. The other dates for this year are 9-18 & 11-20.
They’re doing it on the DL…over Teams.