Stock Market: I feel very fortunate to have had the opportunity to have had a job dealing with the stock market

As a former employee of State Street who started working for State Street in 1987 and of course got laid off after many years of working their, I always tell anyone who will listen that I feel very fortunate to have had the opportunity to have had a job dealing with the stock market since it was the niche that I was always interested in. The entire financial services industry has changed significantly of course because of the development in technology and outsourcing. Also because of all of their global offices. Obviously, it isn't just the financial services industry but many other industries have suffered because of outsourcing and technology.

They claim that we have low unemployment but what type of salaries is average worker earning. Most middle class US citizens are earning significantly less than they were earning several years ago. My current salary is approximately what I was earning about 20 years ago and I am struggling to pay my bills every month.

I may eventually find another opportunity but until I do I am using money that I have saved for my retirement which isn't an ideal situation. Just my take on it.

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I know many people who where there 15,20,25 30 years. All were happy productive workers who gave not 100% but 200% to STT.

The company had great mgmt from 1960 until 1995. Then the great executives and mgmt slowly started to leave for new jobs, others retired. Then came in the bean counters and the useless

greedy executives who gutted STT for their own personal benefit.

That's because it is set up for failure. There is no incentive for them to give you a raise promotion or valuable skills, bottom line you are an expendable cog and you get in the way of their profits.

It's a dead end and a death spiral for careers get out however you can before it's too late. Unfortanely taking the job was the nail in your coffin and it's likely too late.

I fell trapped no way up and no way out.

Consider buying a franchise business and take control of your situation. If you have to work another 10-15 years before you can retire you're better off running something you can own and control.

Thread regarding State Street Corp. layoffs

Stock Market: I feel very fortunate to have had the opportunity to have had a job dealing with the stock market

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