Thread regarding State Street Corp. layoffs

I worked at State Street 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!

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| 1161 views | | 2 replies (last March 14, 2016) | Reply
Post ID: @OP+Gm8YH08

2 replies (most recent on top)

I agree with both of you that in many instances companies are replacing full-time workers with contractors. This saves them from paying full-time benefits, medical, dental, retirement, etc. Working as a contractor is acceptable for some older workers who already saved for retirement but definitely not for a younger worker just starting out.

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Post ID: @3xgd+Gm8YH08

Law firms pull this c rap too with "contractor" so they 1. Don't pay insurance 2. No vacation days 3. No sick days.

We will all be individual contractors it's a terrible future for job security and job stability never mind financial security.

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Post ID: @bce+Gm8YH08

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