Why State Street laid off its overpriced executives discovered

Looks like the money was used to buy the following company

So State Street will add the number of employees GE Electric Co asset mgmt to its own.

There for claiming an increase in the number of State Street employees (lol) Goot

State Street Corp. (STT - Get Report) shares are popping 2.6% to $59.66 on Wednesday after the financial services holding company earlier today announced that it would buy General Electric Co.'s (GE) asset management business for up to $485 million.

The transaction of GE Asset Management is expected to add around $100 billion in assets overseen for institutional clients such as foundations, endowments, retirement plan sponsors and sovereign wealth funds and insurers.

"We believe this will help accelerate our strategic plan to extend our capabilities in key areas for our clients," State Street CEO Jay Hooley stated.

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SST is like a ship in a violent ocean storm, it has not had a real Captain to guide her.

SST has not had a clean plan as to what the f--- it is doing.

Its been increase profits by laying off workers, cutting salaries, bonuses.

Sell off your some of your assets and add the money to your profits

So they get back into the wealth management game 14 years after selling there wealth management and trust business -

Yes usually when SST buys a company they clean house . But its fun how SST does the math when it comes to employees lol lol

Example Lets say SST has 28,000 workers and lays off hmm 4,000 the number of workers left should

be 24,000. But SST will add the workers from GE and say they have actually increased

the number of workers.

I guess nobody told SST mgmt you increase workers by hiring new workers, not by adding the

workers from companies you buy

Run GE employees. Run while you still can

Thread regarding State Street Corp. layoffs

Why State Street laid off its overpriced executives discovered

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