That’s a huge loss in share. Not good. Not good. Any pensions being renegotiated? Well if not they should be. Lots of blue chips do that to cut costs. Wake up Tick tock
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SSB no longer has a active "pension" that was stopped in 2007/2008. So there is no such thing as renegotiating a pension. You get 5% yearly increase in your balance regardless of how the stock or stock market is doing. 5% is looking is pretty good right now. Unfortunately, for those that started at SSB after that timeframe are out of luck. You better be maxing out your 401K.
This is not surprising to those of us who have tried to warn the sheep for many years now. The stock market and economy are booming but not State Street----flat revenue and warnings issued on future profitability.
For those who have already left----congratulations---for those still on board ---what the hell are you waiting for? Leave now!
Geez just when things started to look hopeful. They miss by 1 penny and it ranks by $6+ that’s insane. They keep offshoring jobs sonrhey don’t have to pay us living wages how about 10% salary cut for the top tier employees making over $100k? Keeps our local economy strong
Maybe instead of buying up everything in sight the money should’ve been saved for the proverbial rainy day?