What a farce and joke they act luck it's the Manhattan Project.
It's a terminal layoff no one safe or soared get your resume up to date and pray you can find a new job layoffs are everywhere in all sectors except maybe Walmart or something.
Good luck everyone I hope we all fare well in our journeys
Jay and his management team are arrogant. No doubt about that. They also suffer from the "institutional imperative". That is -- management feels/believes they have to do " something" to address the economic environment they find themselves in. So they blindly go from oneproject to another hoping to find the holy grail of solutions. The reality is much different--be patient--run your business well and over time the company will find its footing and emerge stronger. No company--not even the once mighty State Street can successfully cut expenses to profitability. Sadly this management team does not understand this simple fact. Shame on them. The American worker deserves much better! Sadly they will not find it at State Street.
Arrogance is the only thing that would cause these idiots to name a project the BEACON while it is nothing more then ruining lots of individuals and families while they sit there and smile.
This is from the article in the Boston Globe. Across the company’s nationwide offices, about 360 workers are expected to lose their jobs, with 252 of those staffers from the Boston and Quincy locations.
Another interesting sentence: Despite the layoffs, State Street is growing. The company employed 12,902 people in the Bay State this year, up from 11,953 in 2014.
Most important: State Street is letting go of hundreds of employees, most of them senior level staffers and executives, the Boston Business Journal reports.
Yes Walmart is hiring. I put my resume in. The recruiting manager said they would try but they likely won't be able to hire all today"s State Street cast offs.
Hey hey ho ho Jay hooley as got to go
I agree. Project Beacon. What a joke. The arrogance of Jay and his senior team knows no bounds. CFO mike bell must not have played nice in the sandbox so he was thrown out with the trash along with the hundreds of senior and executives let go today.
Sadly this is not over.For a visual look into a toilet after you flush and you will get a sense of what is happening to this once great 300 year old institution.
Do what you can to save yourself.
The Hooley Hoopla Project.
It's not helping the stock its down almost 1% and the market isn't really down today just slightly off so the street doesn't care what the State Street is doing with me the cuts when will the board wake up and see its Jay?? !!!