So looks like the person who posted this is now a proven fool. Good job stirring the pot jackass.
I can't imagine how sad their life must be to make up stuff like this.
Thumbs up loser.
23 replies (most recent on top)
None in my group. None of my friends in other groups reporting any either. Maybe the layoff cycle is over?
So, its the 29th of September. Where are these layoffs?
State Street always wait till Nov and Dec to give out the bad news. God forbid they wait till after the Thanksgiving and Christmas holiday.
The stress levels will hit the roof by Nov and Dec when workers live in fear of their boss asking them
to come in the office.
No update, still only a baseless rumor.
At this rate it's going to be a historically busy day for HR to let go 2,000 people in one day.
Any update on the big September layoff?
There was a time when telling people you worked at State Street made them jealous
Everyone wanted to work for State Street when it was a great company which respected and treated
their workers fairly.
Now if you say you work for State Street, people say " oh sorry to hear that , how much longer will you
be there.
Isn't it ironic State Street uses a Ship as a symbol of the company. How true each new Captain aka Ceo
has steered the ship closer and closer to the Iceberg
Interesting comment that State Street will turn into a ghost town because now it seems that it is a zombieland with all the employees just sleep walking through their days waiting for the call and hoping for a severance.
A couple of years ago I was offered 10 weeks plus 2 years per year of service. I was sr associate at the time.
If they do away with the severance packages SS could turn into a ghost town...I know some people are only sticking around to get the severance.
I believe you're wrong. I have never heard from any of my former colleagues that they got a single week of severance per year.
Last two rounds I know of a A2 and Senior who both got 2 weeks per year of service.
I wouldn't doubt that they'd try and cut that down further but IMO they'll never do completely away with severance because that is a pretty big carrot to dangle.
SST will be left with 10% Senior Mgmt and a 90% work force outsourced to Asia and Europe
As for severance before I was discarded this was how it was given out based on your job grade aka rank
Average worker were given 1 week per year of service
Middle workers were given 2 weeks per year of service
AVP, SVP and higher given 3 to 4 weeks per year of service
I have heard the same thing (no severance payments) from a couple of reliable sources. If true--it is a game changer. The flood gates will open up and huge amounts of workers will leave the company on their own.
I believe this rumor. The management team has repeatedly done anything and everything to keep this leaky ship afloat. Removing severance payments is the next logical move. Ignore this warning at your own risk.
I haven't seen this employed yet but Rumor has it they're following suit with BoA and phasing out severance packages with the next round.
Their hopes are that this will force more attrition once people know they're no longer offered protected to stick around.
Anyone know what is the current severance package?
I wouldn't be surprised at all if State Street does lay off many employees in September. Not sure that it would be 2,000 though. That seems a bit higher than what I would expect. So many of us have been looking for new employment or maybe will be laid off before getting a new job. At least you can collect for a while and probably also receive a severance package.
But I do expect some layoffs soon.
I bet that the person with Baseball as the name/pseudonym is Gohn Jrosner (flip the G and J). What's up buddy? Worried about losing your little VP job you got by kissing MD's a--? You're a pathetic loser and deserve to be laid off.
PS: I'll be sure to give you some hand sanitizer for Christmas when you're flipping burgers or giving men hand rubs at the GYM for extra coin!
You can deny it all you want - but your day will come when you get the call.
Baseless claims by another disgruntled associate 2 who has been processing the same 3 data points since they walked in the door 18 years ago.
Here we Go AGAIN!
timing makes sense. That way they can book the impact of this large layoff in the 3rd quarter.
Did you run into Hooley while he was leaving your Mom's room last night?
Hooley.
Where did u hear that from