Thread regarding State Street Corp. layoffs

Oh I wasn't implying to give them a pass by any measure. And I might add they are the biggest client if the biggest company that outsourced, I forget the name of that company and it might e old the data I saw about a year ago. I just had heard of new layoffs this morning with JPM and BOA so it is a widespread issue. A bad CEO and self serving board is nothing new. New Layoffs are more widespread and ramping up more than people are hearing and not just at State Street. Too many regulations and a weak fed policy is strangling banking, corporate America and our economy as a whole. State Street is just a microcosm of our economy and what's wrong with it. Low wages, outsourcing, high taxes and too many regulations.

No the overall environment is not solely a State Street problem. State Street is however responsible for how it responds to the overall business and regulatory environment. In this regard the company fails miserably. It also fails horribly in how it treats it's employees--both those that it employs and those it lays off.

From a poorly capitalist viewpoint--the company's efforts are voted on each day through the performance of the company's stock price. Compare State Street stock performance against its competitors over any period (ytd, 1 year, 3 year, 5 year) and you will see that the market's vote is a failing grade for State Street and it's management team.