Thread regarding State Street Corp. layoffs

Layoffs are happening all over, quietly.

Oh an the stock market hasn’t crashed yet.... it’s still in that “bear rally”, but things are about to take a sudden plunge....again.

Layoffs will be everywhere in ALL industries.

Enjoy the ride, it going to be one helluva rollercoaster.

I think there will be more layoffs than they are stating. I’m sure I’ll probably be let go soon also. It’s happening at BNY Mellon Too. Have a few friends there. Same story. Big layoffs in the US and next week in India. Then in FEb also. Employees very worried. Slash and burn.... I’m going to get out of this industry, I really hate working for banks.. Good luck people!

@Post ID: @XbQllnX-1ors

Please I had to work with people from India and found them to have low quality standards when it comes to doing work.

They all think the more work I get done the better I will impress my Boss. Yes the more errors and sloppy work I do just to make a deadline.

Then none of them are able to think outside the box, everything they do is based on a script of answers which they follow without question

More like 14,000 laid off by 2020. Since when does the media tell the truth? You really believe these 'light' numbers, lol.

pay off all debt NOW.

DO NOT BUY ANYTHING.

BAD TIMES ARE COMING.

Believe this or don't but when you get laid off, don't say I didn't tell you so. We are about to over the cliff by end of January. Prepare.

Also, as an extra.... there is major catastrophic natural event on the horizon that will send stock market to the bottom.

:)

We just started the India thing and I pretty much know I am out of a job in 2020 unless something changes. By the end of 2019 we will not have any A1's or A2's left. 2020 is when they will start going after the rest of us. I am single and have a fairy low cost of living and I am not anchored to a home, kids, or a specific geography. Fortunately I will be able to stretch out my lengthy severance and the money I have been putting away so I will have plenty of time to find another job.

I have no idea what some of these other people I know are going to do.

I wish I could tell some stories about trying to train these people India but I will not risk disclosing my identity or my co-workers All I can tell you is if they maintain a pulse and a body temp of approximately 98 the company will declare them a success and you out the door.

Thanks Dodd Frank for adding massive costs, regulations and the need for massive compliance Just like they all say Wall Atreer will pay. What really happens is WE pay with our jobs. They all made their millions what the hll do they care. “Public servants” ...my a%

So I guess I shouldn’t have bought a home after all. So much for looking forward.

So what’s left of the Boston team will meet on mondays at the local Starbucks with the free WiFi and then retreat to their homes to have big electric and heating bills of their own. Soon to be called independent contractors this is the new normal. No wonder why socialism has such a cache now,pretty sad state of affairs.

As they realign business needs and functions and of course all the reorgs that happen after layoffs, they will continue to cut and whiddle down people they no longer need.

Lots of people are going to be reorganized and lose their direct reports, that’s always a bad sign.

If you are VP and have no direct reports, that’s not a good sign. Even worse if you are SVP or a MD.

In nyc they got rid of a lot of managing director roles at some of the bigger banks, they filled those roles with people more junior and paid them less for same job. It’s why so many are leaving nyc, the taxes and pay are just not in line to afford living there even at a managing director level.

State Street will no doubt do the same. There are so many useless SVP, VP and Managing Directors it’s comical.

Typo, folks leaving on their own

Timeframe has been indicated...

All through 2019 stealthy, quiet layoffs possibly on Wednesday’s

By 2020 potentially 7,000 plus today’s news of another 1,500 to be laid off

My guess is by 2020 between attrition of folks leaving on their noon and layoffs, easily 10,000 will be cut.

Spare me. The business is shrinking, you have layoffs across the organization - all levels. This is the reality of the asset management industry and no amount of whining about the little guy will change that.

@Post ID: @XbQllnX-mkb

Thanks for the info should be really fun times ahead. Anyone have a timeframe for this? short and sweet or long drawn out pain?

And remember, they are laying off some people who you would have never expected, so these layoffs are going be be bad. All bets are off.

Kinda like modern cage fighting, lol.

Gonna be a lot of layoffs for sure.

I think it’s great. All the senior executive management positions will be stabbing each other in the back trying to hold on to their jobs. The lower employees will be throwing each other under the bus trying to hold on to their jobs. No loyalty. No one will trust each other. Moral at an all time low. Stress will be off the charts.

Couldn’t happen to a better company, lol. Enjoy the show....it’s going to be a good one.

Stealthy layoffs to hide the big wigs.

Wednesday seems to be the layoff day each week.

Just have your desk and emails in order on any given day in case they decide it’s your day to be escorted out.

Staggered layoffs on Wednesday’s is the way they will do it.

Is anyone feeling “fearless” lately? Smh

Sorry bad typo there. Any particular day of the week or month?

Well I’m not over 40 and I’m certainly not making decent money. What should we expect mass group layoffs or stealthy? Any parryivikar dsy of week is month or random? Did I say this s * c k s?

They will hire up tons of women at a much lower cost — when and if ever needed

They will also promote women at a next to nothing cost.

They will work these women into looking 15 years older than they really are and steal their best years from raising their families.

Nothing new here.

See, I told you all so. And it’s only going to get worse.

Anyone over 40 making decent money needs to start looking. It’s going to get bad there.