Maybe its about time the shareholders vote to outsource the Ceo and the Board to
India or China. They could probably get the new Ceo and Board members for 25% to 40% of what
they pay the current members.
Who else remembers the fortune they spent to build the state of the art backup data center in
Grafton Mass ? Then they cut the work force there by 40%
What else can they outsource ? Our replace with temp workers ??
I was there for 24 years until I was discarded like an old relic. I saw State Street go from a once
happy place to work company into a sweat shop. I stayed because the salary and benefits were
great, until they started cutting
I remember low level workers going 4 years without a raise or bonus, but we were grateful to
have a job.
I saw depts cut staff by 40% and people trying to do the job of 3 workers
Having to listen to the famous Mgmt line " Be grateful you still have a job"
Yes, all of those places are better choices than State Street, but why only focus in the financial industry? Branch out, the job market is better than it was just a few years ago. GE just moved to Boston, there are tons of other companies to work for. State Street is a disease, a toxic corporation. You will not have to look far to find greener pastures.
Where? LM? BNY? Fid? Where?
I urge those working at state Street: Flee from your oppressors!
There are other options, places where you will be treated like a human being.
Less stressful places exist where you will be happy and have stability along with work-life flexibility.
Let the top management deal with the business gaps when all the knowledge is gone.
Make a career move externally, it's the loudest message you can give to management and the quality of your life will increase - guaranteed.
It is going to get ugly! They'll cannibalize at the top. Or it will get a takeover and we will all kiss our jobs good-bye as the top fly out with platinum parachutes and we get pushed out with nothing.