Any news?
11 replies (most recent on top)
What the heck is going on in State Street? Is this even a viable business anymore?
What news from Eire? They suffered enough with the famine now they have to suffer this ????
This happening in all locations?
Apparently Aug 2nd will have some layoffs. Not sure which areas
i see them laying off people from different ages and experience levels. i know someone who is in 20s who was laid off. also, know people in their 30s, 40s, 50s laid off currently. a lot of minorities or "quiet" workers first to go
They are running the company into the ground - quite scary really. Glad I'm out. Horrible company with horrible management. Sooner they go under the better for everyone.
They’re coming... cutting “right to the bone” Possibly Aug but maybe later so HR can do what they need to do
Told to only prioritize important clients and basically get to the others whenever we can.
Jay’s retirement party has to be paid for somehow so don’t complain. It’s important to him
More today. More every month until the end of the year. Reason is finance messed up the budget and STate Street can’t re-report targets to the street, so it’s cut cut cut.
Not sure I agree with your statement, but State Street lays off employees that are earning the most and replaces them with much cheaper, inexperienced, in many cases new graduates. Between a much younger, inexperienced staff and workers in India I have no idea how State Street doesn't lose a good percentage of their clients. Some of my Linkedin network are former/current employees of State Street and many current clients are not happy with the quality of the work. It is only a matter before they lose a good percentage of their clients.
they need to staff newly opened Poland site office..so more layoffs coming
A handful of "poor performers" in my BU got told they had 60 days today. Rumor has it their jobs will be filled by people from a team of "high capacity" employees whose tasks are being relocated to Bangalore.
Amazingly the people in the latter group are straight processors and have no real talent. So it kind of makes no sense.
I am curious to know if they do not get severance for being folks who got 2's on their reviews.
More today. More every month until the end of the year. Reason is finance messed up the budget and STate Street can’t re-report targets to the street, so it’s cut cut cut.