Thread regarding State Street Corp. layoffs

Soon even those jobs will be gone with kiosks and AI robots.

We're doomed, amazing all those hours of hard work for not.

No marketable skills, "proprietary" software just a fancy way of saying you're sc*rewed outside with obsolete knowledge.

If we got paid properly we could get courses in or advanced degreees, but my salary barely affords my monthly train pass.

To all current and former SS employees---the best way to get another position in once you are laid off by SS is to practice saying the following over and over:

"Would you like fries with that?"

Combine that skill set with your SS experience and you will be good to go for numerous post SS positions.

Thanks JH---for all you have done.

I've said it before, yes there are layoffs.

I doubt the number if you read it carefully a lot is through attrition, and no plans of rehiring is spots.

That's how they get to 7000.

It's still a nightmare but I think part of it was was psychological optics to get people to leave on their own accord.

What about the article that was published in the Boston Globe on 3-29-16 about reducing staff by 7,000 workers by 2020? I don't believe this was just a rumor but they claim that it is all technology driven. They can publish anything that they like. My guess is that most of these jobs will be relocated to India or one of their global offices in Australia, London, etc. They are just trying to not ruin their reputation by publishing this article which in many cases in just fictional information ! Anyone who lives in Massachusetts just needs to find several former employees of State Street and ask them how they are doing ! Most of us are earning around 60 to 70% of what we used to earn and struggling to pay our bills. That is the result of all of these layoffs !

People in my area have been let go on the last wednesday of the month pretty consistently in the past 3 years.

I know of two vice presidents that were given notice on 4/5 in Enterprise Risk Management.

Well with all your experience then you must know all.

You're either a disgruntled employee or former employee cause if you profess to know what you say you know, you'd not be on this thread worrying over layoffs.

There's no schedule per se and if you knew dates you wouldn't be posting on them.

Stop perpetuating the fear, rumors and innuendoes.

If your not part of the solution then you're part of the problem.

From my experience they usually lay off on Wednesday and it is effective on Friday. Although, it isn't always the same. Just from what I remember.

I agree. It's all fear mongering. There is nothing to the dates listed. The company is doing great and growing. It is not the gloom and doom these posters are writing about.