Being understaffed is one thing to make it miserable to want to leave, but not seeing layoffs.
Anyone missing team members recently?
Where?
What number?
7000 is an awful big number to hide.
22 replies (most recent on top)
Image the fear the workers have had to endure over the last 15 years.
Having to go through the yearly layoff phase of State Street.
Praying and crossing their fingers that they are not the one going to be let go.
The older workers who know how society no longer values people with 20+ years of work experience and ethics.
The people scrambling to refiance their mortgages to try and pay them off faster
I think some people are missing the points about layoffs, yes a lot of people will lose jobs because of automation which is happening.
The real issue is when your job is replaced by a H1-B worker brought into the U.S, or your job is given to a worker in another country.
This is totally unacceptable to have to train a H1-B worker who is coming to the U.S to sit at your desk after you are tossed
Post ID: @PX1tneX-aozb
I agree that moving to another department is a good decision. Although it isn't just State Street but many other companies that lay off entire departments. It is a cruel world that we live in and many of us will be replaced and are already being replaced by machines.
Don't believe you are safe in any company but do know that working for a large corporation is definitely more enjoyable than working for a small corporation. For many of you who complain about SSC it is a much better corporation than the many small companies that I have worked for in the past. I am thankful to be working for a large corporation like State Street.
Just a side note that SSC also likes to layoff employees who take off time because of an illness. I have worked at SSC for many years and have known former employees who are part of my network that confided in me that they were recovering from a serious illness and were also laid off because of there illness.
Hey hey ho ho guess who has decided to go
The only reason I been able to hand on so far for 23 years, is I spent 15 years in 1 dept than transfered to another dept during the layoff periods.
All I am doing is trying to survive and make it another to years and hit my 25 years with State Street.
Yes its not easy most people who have been let go are the ones there 15+++ years the ones the company considered to expensive to keep. Even though we are the hardest working, smartest dedicated workers they have .
I began too late to enjoy looking toward to a 25 train mark lucky you. I’ll be lucky to get a kick out the door after ten years.
I am just keeping my fingers crossed hoping to make it another 2 years until I hit the 25 year mark.
Then I am getting the hell out of the slave factory where 95% of the workers feel depressed
I used to love Thanksgiving and Christmas but the last 10 years its been the yearly fear of
layoffs.
Will I be laid off ? Will the company force me out by changing my working hours ??
By moving to to a location further away from my home, under the guise of I am needed at
the other office.
Americans are only 5% of world population we are doomed on the big scheme of things.
Remember
Layoffs
Through
Attrition
If your job is overwhelming now just wait for the big squeeze to turn you into a new admission to a padded room.
It will get worse much worse.
7000
A number you cannot hide
Be sure to make notes here let your fellow workers know
Sadly it’s everywhere. A dear friend just got the big squeeze in tech.
Endless war on middle class American workers.
Walk around the Adams building 4th floor. maybe 1% of the Indian people you see are SS employees. All H1B.
The move is towards artificial intelligence. At least, I recall reading an article about this a few weeks ago. People are going to be replaced by machines. More bad news for future generations that will require retraining for some of the most successful. The rest of the middle class will be working at a retail store, Amazon, etc. Pessimistic outlook for this entire country if you ask me.
Great posts by everyone. Sadly it isn't just State Street but many of the other large financial institutions that are sending work overseas. What is going to happen to future generations if they keep sending positions and entire departments overseas. Are you supposed to relocate to Poland or India? Especially considering places like London have more terror attacks than in this country.
Well we know ssga is moving and lots of leases up
You can’t advertise 7000 layoffs and hide forever
Good times folks good times
Not
Layoffs are in. Whole groups are laid off. You can’t rehire in US - only Poland, China, or India. Seems like something big is coming - either they are cleaning up the space for new people or restructure big time.
Exactly you got that right!
It should be more single process we should handle it here with direct contact of the whole process
The outsourced workers of other countries may have the “skills” but not the insight, intellect or work ethic.
J will never ever learn he’s too busy counting his millions from stock buyback padding his salary
I still work at State Street but sadly instead of a real job, I been reduced to spending 1/2 my day fixing all the mistakes made by the Indian workers.
Yes nothing I like better than fixing their mistakes and trying to explain nicely how they messed up again and again
Ha ha
Don’t you know “diversity” is cheaper to pay for than skilled, educated, intellectual Americans
What
A
Joke
So much for Darwin’s theory of evolution survival of the fitttest need not apply in corporate America
Sold to the cheapest labor force.
One hundred cheap workers for one quality Worker
Hope it works out for you j....
1 US worker may cost more but you get 100% return for quality
Hey. J
You get what you pay for
Yup
Expect things to go from bad to worse.
More demands put on you , less reward, even more unreasonable deadlines....
Layoffs through attrition are coming soon!
Dark days ahead
And it has nothing to do with time change
Far reaching big problems crash is coming
Bad company
Bad ceo
Bad
Bad
Bad
Leave now for your life