I know everybody is happy to finally see senior management face some consequences for what they've done to this company, but I wouldn't celebrate too much. Not because they don't deserve it, they certainly do, but because none of us are safe right now.
Once the senior management is done with, these layoffs will spread to all of us at State Street - especially those who are already within Rule 70. From what I'm hearing, it has already started.
Good luck all.
More layoffs coming in February 2019.
I know many people at State Street who were given a 60 to 90 day lay-off notice. So it’s not false information. These people continue to work so they get their severance package with inimum effort though. It’s really a pathetic process. Destroys moral for all involved.
If your 69 years old, and have worked at SSB for 1 year, you meet the 70 rule. I meet the 85 rule.
Your Age + Years of Employment must equal or exceed 70 years.
My mom was laid off yesterday and she has till the end of Feb, so there are def layoffs after 60 days....
I got laid of with 4 others on my floor. We are not on a 60 trial layoff. We were all walked out.
Layoffs are done on Wednesdays.
I've got 3 people to let go last Wednesday of January 2019. They are being let go, not a 60 day look for a job bs. I am not looking forward to this.
False information. They are not letting people stay who are slotted to be laid off. That is too dangerous to company info. Once you are cut, you're done. No way they would let all those disgruntled employees stay to do internal damage.
Nope, this is ongoing. Expect many more "quiet" layoffs throughout 2019.
You'll see soon enough.
It has already hit all levels...yesterday was layoff day...technically not a layoff as the way it was explained those chosen..get to stay at work for 60 days to try to find another postion..if they cannot find one at tge end of 60 days they are out the door.
Not sure if they are given anything after that.
I concur. Dark times ahead for many state street employees. There are NO jobs at their levels out there.
Agreed
What is rule 70?