Do they expect a certain percentage to just leave with new jobs? I mean how cagey is the “high cost location” ckearly they mean Boston. Should we all get Rosetta Stone and learn Polish? It’s musical chairs there are just not enough seats left and many are just left out in the cold. This sounds like broad sweeping cuts with no discrimination of salary or position. This can’t be good for the local economy. Has the Governor addressed this?
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no, they will just lay you off. They will not keep anyone they can lay off. Expect the layoff numbers to be much higher than what's being reported. I'd say its more like half the company when all is said and done, heck, look at the new location they moved to in Boston.... some of you are clueless. Really clueless.
To the person asking about why government should get involved. StateStreet has been given federal and city tax breaks. If they are sending jobs overseas they no longer deserve those tax breaks.
Oh yeah.
@XbBTsuU Sadly the legislators don't care about what happens to the average worker even though State Street does employee a lot of people in Massachusetts. They should care to a degree but it isn't just State Street but many other large companies have opened global offices in other countries and sent many of their positions to a satellite location in India.
Yes, attrition always happens and some will leave for better opportunities elsewhere. Better to go now than be competing with all the future people that will get laid off throughout 2019 and be looking for work, there are only so many jobs in Boston/Quincy, most will probably have to look out of state. Just look at the positive, there are nice places to live in work besides Massachusetts.
nothing can stop what's coming. the economy is worse than being reported. your government can't do anything. basically if you are someone that is paid too much (in their view) and they can hire younger and cheaper person, that's what they will do. you are an employee at will, you can be terminated at any time for any reason. and as for promotions, its all girl power at state st now, its been that way for a while. they can promote a female and its costs them a sh-- ton less.
some of you people seem clueless to what been going on for a long long time, this is just the final act before the curtain goes down in 2020.
Why, oh why, do people think the government should get involved when a private company changes its workforce? Sorry, that is not the role of the government.