I already posted something similar on another thread. I am a former employee that was laid off from State Street after working for them for quite a few years. I dedicated my life to working at State Street even showing up when many others couldn't make it in the middle of many major snowstorms. This is of course before we all had work from home access.
Anyway, to the person who commented above about making up lies. I personally know many former vice-president's and assistant vice-president's who were told that they had to make a list of employees who they were slated to be laid off. No one wants to be put in this position, but it is just the trend at State Street. They told me that they couldn't think of anyone who deserved to be laid off but had to submit names every year since they have been instituting all of these layoffs. Anyway, they all eventually lost their jobs also. To most companies like State Street and many other financial institutions it is all about the bottom line and not having any consideration for their employees and whether they will find another position if they are laid off. I know since I am an older women who had a difficult time finding employment after losing my job at State Street. I still miss working in the financial services industry but currently work for a small company where I feel like my contributions are appreciated. I can't say that I felt like that very often at State Street. I would get to work about 7:00 am in the morning, (I was usually the first one in the office most mornings), and never took sick time but did use my vacation time every year. Since I had a lot of vacation time I would have to listen to comments from other employees who weren't my supervisor/manager about taking my vacation time, etc. I had a sister who was dying from breast cancer and I would sometimes have to use my vacation time to take her to her chemotherapy/radiation treatments. I never told anyone about my personal family situation since I am a very quiet, private person and also believe that it isn't really anyone's business what is going on in your personal life.
Don't want anyone to feel bad for me, just wanted to tell you that the layoffs at State Street aren't very fair just a result of the greed of these financial institutions and not just State Street. Don't know if you read the article about State Street laying off 7,000 workers by 2020. What is going to happen to all of these workers? Most of these jobs will probably be sent to India or one of their global offices in London, Australia, etc. This will save State Street quite a bit of money but leave most of these who are laid off without many opportunities. They will end up either being unemployed or underemployed.
Have to go to work now but will continue to post on this site. Maybe someone will read my post and understand what is actually going on at State Street and many of the other large financial institutions.