No news is good news I guess. Maybe it was just dead weight being culled?
Nothing out of the ordinary or bad going on where I am at, looking pretty decent actually...,should I be afraid?
54 replies (most recent on top)
Hey hey ho ho Jay Hooley has GOT to go
Goodbye Old Friends, Adios!
Sometimes State Street will try and do sneaky layoffs by letting a few people go here and there over a few months period.
They figure if they layoff only 5 to 10 people per month it won't be noticed or reported in the news
I worked from from December 1982 until July 2012 when I was shown the door. A staffing agency called today. There is a 6 to 12 month contract job where The candidate will be responsible for the reconcilement to third party statements of domestic and foreign derivatives, including but not limited to Swap, Future, Options and collateral transactions. The individual resolves reconciling items through interaction with accounting and client service groups in North America and Europe. The individual will review transactions in accordance to established procedures and perform various daily tasks within the business unit as necessary to support processing routines.
The candidate should be comfortable working independently, be very detail oriented, well organized, and motivated to make a positive impact on the team. Familiarity with Excel and overall system savviness is required. Uh no!
I love it
The die is cast.
Mike Bell the cfo is now out. No one is safe under Jay's purge of hard working Americans at State street.
Hey hey ho ho Jay hooley has got to go....
Hey hey ho ho jay hoo ley has got to go ...
Is that our chant? I mean we can't just show up without a mission statement right?
United against corporate greed...
State Street outsourcer of our jobs...
Anyone have a nice catchy phrase?
If I could do jingles I'd have gone into advertising.
Yes very true. The layoffs have hurt many hard working American individuals and families and to what end. How have the markets reacted to all the job cuts at State Street---the company's stock price is now below 57 per share down from 81 in mid 2015 and below its all-time high in early 2008 of 86 per share. So in other words---Jay and his team have hurt many hard working employees while not achieving the result they expected. In fact---their actions have been completely rejected by the markets. You cannot cut your way to profitability.
On 3/14 we unite as one voice to finally draw attention to this tragedy. The layoffs and horrible treatment of the Sate Street workers must stop.
I lived through all the layoffs since 2000 until I was discarded 2 years ago
State Street has laid off its brightest and best workers to out sourced them to India and China
Replaced many with full time temp workers who have worked as temps at State street for 5+ years
I mean who else can they discard ?? The joke at State Street is if you worked there for 5 years your
considered an old timer
Write his name in on the ballot if he doesn't "get" all the delegates from criminal corrupt Hillary. She will be the absolute worst thing to happen to our country. She is the absolute most self-serving person she makes Jay look like a neophyte.
The only way to change our paths is change our governments business as usual and she is entrenched in Washington. Don't let her Pollyanna smile fool you.
I am feeling the bern and we all need to get on his train to not just equality but this guy speaks and lives by his heart.
FEEL the BERN! And it does start 3/14 let freedom reign.
On 3/14 we rally together against State Street and expose the company and its senior management for what they really. In November we vote for Bernie Sanders to enact real change. Stand together and unite in one voice.
The absolute 100% key to change vote Bernie sanders. Hillary will support corrupt Wall Street and she won't help income equality.
That is the try and only oath for real revolutionary change.
Is there any way media could be alerted or does that risk it?
Okay--3/14 beginning at noon is the day and time. We meet at the street level and march together to the State House. Don't bring signs to the office. We will have to shout slogans and unite in one voice about what is going on State Street.
After the workers rally on 3/14 we can begin work to rule actions. Do everything required of us in our positions but nothing more. Our motto--let Jay do it--he is paid to do everything--we are not.
Where? also are we going to just mass exit and head to State House? Obviously we can't carry signs around at the office either.
I'm for 3/14 noon before the ax falls
I had suggested 3/17 and someone said that would be to late since big layoff coming on 3/15. So as I see it we can do it the day before 3/14 or on the day 3/15. Start time would be 12 noon. Which date would everyone prefer.
Mr/Ms Scientist - Not sure what your point is in bragging abt how much you are making, you just sounded foolish saying all thay -also am not sure what ticked you - mr/ms bluechip didnt say anything out of place. Again - this is not a place to fight/argue etc ....Lot of folks here are anxious abt their near future and just trying to grab some information/support.
Coming back to the layoffs ...someone mentioned 3/15 ... is that a speculation or more-less done deal for date...
Btw loser from state street misery company I'm a scientist way more than IT I can build it write install and sell it I make more than you in a month than you at state street mske in a month than you make in sa year get over it and yourself. Your cra p p y attitude confirms my thoughts of friends and relatives that work there you are all miserable state street has ruined you all for a normal life sorry pals good luck you will all need it
Hey good luck Buddy just trying to be helpful with your attitude you can g f y
Hey Blue Chip employee - This has been going on in financial services/IT for a long time. Take your head out of the sand you know not what you speak. Where do you think all the IT people went when they left technology companies, yeah they saturated the Financial Services companies.
And in case you're all wondering why I'm on this thread I have a few friends and relatives that work there and I Was curious as to the mood there since the Fall layoff announcement and started reading this when it popped up on google. Good luck it's harsh out there.
Actually I don't work at State Street I work in tech at a big blue chip companies and I have over the years seen massive I mean tens of thousands silently get laid off with nothing in the news. I have had friends with PhDs get laid off people days after bringing home their first born get dumped unceremoniously. You in Finance have just started seeing what we have been Going through since the 1980"s. It's only since the Great Recession that finance is getting hit. Count yourselves lucky this is the new reality in America it's due to globalization so no I'm not an insider I've just lived a little longer and felt these hits about four times in my career it doesn't get better or easier you just have to adapt get used to it and update your skills constantly. Welcome to the new normal in America.
Spoken like a True Insider.
I think you're all being hyper-paranoid. All companies can people, everyone thinks they work too many hours for too little compensation. Why do you think Sanders and Trump are so popular? It's because everyone is getting soaked by DC. You either side with Trump for free fair trade capitalism or Sanders and socialism but what it really shows is complete dissatisfaction for the status quo. No job has ever been safe no natter where you work EXCEPT Union or government workers. Wake up we've all been duped and wait until the next long hard recession comes around maybe that's the big thing coming soon to an office near you.
Ok then maybe it won't be deemed insubordination I was being cautious and not wanting to hurt people by advising a rally but if you know that it isn't insubordination then let's RALLY put out the date and time come together and expose the working conditions under Jay Hooley!
Taking part in a rally is not grounds for dismissal on the basis of insubordination. Stop this fear mongering. We are all scared already without this misinformation.
Speak up, rally and unite in one voice against this terrible company.
You'll be fired for insubordination if you rally. What needs to be done is the media has to find out about the state of State Street. So if something huge is imminent as some have said as early as the 15th then that is the opening to be heard and seen.
Sadly, if State Street is dying we are all screwed and massive layoffs will be in the headlines and our plight won't be hidden anymore.
If Jay gets dumped it will ALL be worth it you can't base merit on stock prices and do buy backs to make it all look good.
House of cards in reality.
This is very sad to read about this. I am a former State Street employee that has never fully recovered from being laid off. I am currently employed but at a much lower paying position. If they have significant layoffs this year, I can imagine how difficult it will be for these employees to find new positions. I really hope that State Street doesn't have massive layoffs but wouldn't be surprised if it does happen.
Spread the news call any friends that will help and support contact local media like n e c n or fox they'll listen
So if it's too late then tons more will show up that will have no fear of retribution soyes 3/20 Sunday rally??!! Let'sdo it if 17 year olds can so can adults that are getting crushed!
St Patricks day will be too late.
Layoff is 3/15.
And it will be massive.
Let's keep this momentum going. I am scared about losing my job like everyone else but I am charged up with us working together to expose this company for what it is. St Patricks day is a great suggestion for the State Street workers rally. Lets start the rally at 12 pm lunch time so that as many as possible of us can join in. Spread the word. Rise up State Street workers.
Anyone else see the irony of our logo being a majestic schooner with 300 years of history with smooth sailing and now with Jay Hooley at the helm it's sinking and a mutiny is on the verge?
I wonder if he'll go "down with the ship" or just bail with a platinum lifeboat...my guess he'll bail.
If State Street is crumbling and all of us are at certain losing jobs, what do we have to lose!? Absolutely Nothing! We at least if we are dumped can say we tried to expose the ugly truth if servitude at State Street and I don't use that term loosely it is servitude there is a huge gap financially not just with the upper levels but within our industry he is a bad CEO that needs I repeat needs to be exposed of his tactics and extreme outsourcing of OUR jobs!!!
Please I'm still kind of new here I don't have the connections or support to get it going if anyone could pull it together and post the info on this site and spread the word it CAN be done Jay needs us to shake things up we don't need a hostile takeover or an activist investor that cares only about shareholders we the people that make up State Street need to DO this for US! Thanks lets do it, stop wasting another year and let's do it this Spring maybe St Patricks day weekend when the parade has a lot of press in the area???
I agree this has been going on for 10 years. But never during this time has the basic State Street worker stood up and said enough is enough. The workers have never United to expose this incompetent and greedy management for what it is. FB page is an excellent idea--lets organize and fight for what is right. We have been lied to and mistreated long enough. Management will back down in the face of public embarressment and humiliation. We don't have to accept this any more.
Good luck - what is going on has been going own for 10 plus years. As a matter of fact it has gotten worse. I think most people are just hiding under there desk hoping they are not next. You can not hide from the inevitable end results. Just look at all the hard working dedicated people who were discarded like pieces of trash with no compassion nor consideration for the impact it has on their lives and there family lives. They are not wealthy and most can not afford to retire and now must try survive in a very difficult environment. Unlike the top executives who make and have more money than they could ever spend they will never know, understand or care about the impact there decisions have hurt so many, and they don't care as long as they survive and live an easy life of excess.
If dont knew has s friend in the news industry or radio let them know pass it along the fire will spread we need to unite now!
A FB page needs to be set up even if it's s weekend Sunday rally at the State house as a show of unity. Something needs to be done fhe truth needs to be revealed change never comes without being quiet afraid and timid! Our jobs are already on the line we don't get paid commensurate with our experience or industry we NEED to come together or we'll all go down with a slow painful whimper. Pass it along go to LinkedIn lets get the ball rolling for us and our families!