I can't help other than to ask the question..."Why?"
5 replies (most recent on top)
My reaction--first I laugh, then I cry and finally I say a prayer for them.
The problem is when they cut staff they look at salaries and not how valuable to employee's were.
Yes I saw how Bosses would protect their favorite lazy employee's who kissed their ass
I spent half my time cleaning up the messes of certain people who were the pets of the Bosses.
Lots of current SSB employees have added no value to the company. There is a very bad culture at SSB. Politics is really high every where you go and at every corner of the offices. Not all of them are underpaid. I know one group that the manager hired all of her friends and former co-workers from the bank she got layoff 10 years ago. Her hires are not fit to the jobs but her boss is really good at kissing the executive shoes and gets pet projects to keep the group on the payroll for years.
Easy prior to 2004, State Street was a great company to work for. People were envious when you said
you worked there.
State Street paid a good salary and had great benefits, that is why people stayed 20++ years until
retirement.
And after sooooooooooo many layoffs the old timers are considered people who been there 5++ years
And the few few few few rare rare old times of 20+ are just trying to make it to age 59 1/2 when they
can tap their 401k tax free, better yet trying to make it to age 62yr for early Social security
I think most of the "lifer" types (been working there 20+ years) are just comfortable with where they are