Thread regarding State Street Corp. layoffs

Well hump day the 20thbis here do OP what should we expect? What’s the crystal ball showing? Hopefully tidings of good cheer and nonpink slip. And no I don’t want to hear it’s millennial pink. :(

Just don’t teach them all the subtleties that you learned through the years with blood seat and tears leave gaps ;)

It is very humiliating when your told to train your replacement or else you will not get

your severance package.

Its humiliating when after you train your replacement the company forces you to spend 1 month

coming to the office, only to sit around and do nothing to do for 8 hours a day.

Your job is just to sit there read books, watch videos on your Dvd player, until your end time is reached.

Your not allowed to answer phones or do any type of work in the office.

Just come in and read and watch videos, walk around the building chatting with friends.

I asked my Boss since I trained my replacement and they been doing my job for 2 months, why not just give me my package and let me move on.

The answer I got was " I am not scheduled to be let go for another month, so all I have to do is come in and be on site for 8 hours.

I was laid off by SSBT several years ago. It was a blessing. Life after SS has been much better and I'm not sad about it at all. But be careful. When laid off, you will be required to sign a raft of paperwork including a document that says you will not sue for age discrimination. If you do not sign all this paperwork, you will not receive your severance. They got ya coming and going unfortunately. After you sign everything, you have to go thru the humiliation of being escorted out. Standard procedures.

Yes I agree we planned and saved but we had a date for our 60’s to retire not our 50’s. The discrimination is broad and profound and not just at STT. It’s very flippant gif ppl to say take any job. Well Any old job doesn’t pay the bills and allow to save for retirement. I’m furious over our political reps doing zero for us. They do nothing to help the people they pay the taxes. And their salaries. This quiet long term discrimination needs to be loud and vocal. We need help here!

I can tell you its been rough for me and my friends who are over 50yr.

Some have found full time jobs making 30% less than what we did at State Street.

Others are drawing on their 401K and working part time and temp jobs.

Once your 50yr companies look at you as too expensive to hire as a worker.

They forgot we have the work ethics of come to work on time.

Put in a full days work

Do not abuse sick days

Yes may 2018 be for all of the people being laid off esp those over 50 yo hope they all find a new job that helps them weather the bumpy years ahead of a silent age discrimination movement May we all get raises and job security because it’s nit likley going to get better or easier for US workers

@@QuiDDSt-ctpl

If your lucky to have a new job lined up, then yes being laid off is a blessing.

You have your new job plus your severance package from State Street.

But there are people who have been laid off and due to their age and the economy are not able to find a job quickly.

I have friends who been out of work 18months to 2 years, others are working new jobs at a pay cut of 35%+++

But your right you have to decide which stress you can live with, the stress of a pay cut, not being able to find a job or the stress of State Street.

May 2018 be the year all discarded State Street employees can find a well paying stress free job

Why did you name that particular date - Dec 20?? Just curious. That really s---s if it's true. 5 days before Christmas! It does seem like the layoffs have not been as bad as people thought... so far. But I do know so many people who are stressed beyond belief. I know it's been said before, but I think in the long run, in some cases, a layoff turns out to be a blessing to get away from this company.

Left to freeze in the cold waters. No spirit of Christmas on the SS STT

Captain is abandoning ship too. How despicable.

Sorry State Street has been laying off and outsourcing jobs since the year 2000

1st it started in small layoffs ever 3 to 4 years.

Then around 2007 the layoffs happend ever 3 years, then 2 years, now its a yearly event

The might Clipper ship has a lot in common with the S.S Titanic aka the ship of dreams

The Ceo, Senior Vice Presidents are like the 1st Class passengers being given Golden parachutes.

While the workers are lucky to get a small life jacket

And sadly, you are correct. Only problem is all big corporations are doing this same dance to musical chairs. It’s not going to end we can only hope that the headwinds will change for US workers to survive. Rocky shores ahead for the clipper ship and most ppl in Corp America. :(