Workloads Double and Triple

I was dumped around 2009 and I can tell you from 2003 and on its been a living hell at State Street - There was a time when they did not give out raises or bonuses for 3 straight years. People saw their workloads double and triple as staffing was cut from 1/3 to 1/2 in departments.

Its a mixed blessing, the older workers who survived are miserable as hell yet grateful to still have a job. A lot of them are in their mid to late 50's so they stay trying to make it to 59 1/2 when they can tap their 401k tax free.

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Nobody wants to tap their retirement funds , but if your having trouble finding a job due to your age.

Or you get a job which pays 30% to 40% less your sort of forced to tap it or become homelesss

Many older workers still need to work for at least a few years and don't intend to use their retirement income to survive. If you live to be very old you won't have any money left. I know of several former State Street workers who were in their 50's and never fully recovered from being laid off. It is difficult to find employment after 50 since most companies want to hire younger workers.

I am a former employee and I do recall a few years that we didn't receive any raises or bonuses.

Thread regarding State Street Corp. layoffs

Workloads Double and Triple

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