How many changes and restructurings do we really need?

I've been with State Street for nearly a decade, and in that time I've seen at least five restructurings or reorganizations or however you want to call them. Three out of those five times included changing buildings - at least for me personally. Usually, they also lay off hundreds or thousands of people each time just to hire just as many within a few months. I guess that's their way of weeding out those with higher pay. The only problem is they keep weeding out all the experience and knowledge at the same time.

How many more of these do we need for our "intelligent" leadership to realize it simply does not work?

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$1 desk fee....

Don't laugh....this has been discussed....

Don't believe me? Stick around and see if I am right or not!

They been laying off and outsourcing jobs since 2003, a few hundred at a time.

By 2013 they have laid off at least 70% of the people over the age of 50yr.

I have a few contacts left and they told me the funniest story about their latest cost cutting measures.

Actually replacing Contract workers who been there 4++ years with cheaper Contract workers.

Who know's the next cost cutting measure could be the following.

Charge $2.00 a day to park in their lot
Pay toliets
$1.00 a day chair and desk fee

LOL

so many stupid people at STT.

They won't fully understand they are losing their jobs, all of them, until they can't log on one day....soon.

Lmao, why do you think local government is going to anything? They are helping STT make this deal happen. Do some research. Government doesn’t give a f*ck about you or lost jobs.

The doors are closing by 2020.

India will be headquarters for what’s left.

@Post ID: @XgFIjki Sadly its all about saving $$$$$$$$$$$$, and if the quality of work has to suffer so be it.

The big joke is when a senior worker is somebody who been in the dept for 1 year (lol).

Here is the harsh reality about State Street.....

Nothing is going to change.

Management will not change its behavior and will not learn from the past.

Why so pessimistic you might ask?

This is quite simple---the services that State Street provides are low margin and low growth. Sure they have a few very small areas that have higher growth potential but overall that is not the case. Customers see State Steet's services as a necessary evil that they do not want to pay up for. In fact, they continually are looking for fee reductions and contract negotiations lower. As a result management is forced to continually cut expenses in order to produce an acceptable return for Wall Street.

Management continually "restructures" the business and blames external forces beyond their control because what else can they do.

We ALLneed to contact governor Baker and each and every Senator and Rep within our state MA and get heard andbe noticed. You want real change? Get vocal.

They'll never gonna learn.

Now now dear get back into place no need to ask too many questions. You still have a job now be grateful stop questioning leadership we know what’s best.

Thread regarding State Street Corp. layoffs

How many changes and restructurings do we really need?

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