Thread regarding State Street Corp. layoffs

Volunteering for a layoff at State Street

You can contact HR and volunteer to accept a severance package as long as your dept is looking to make cuts. I had someone in my dept take the severance package voluntarily.

Is there any way to find out your department is looking to make cuts any time soon? I'd like to volunteer, but I also don't want to do it ahead of time and have them try to "wait me out" until I leave on my own.

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| 2341 views | | 8 replies (last July 25, 2019) | Reply
Post ID: @OP+YDkJxJl

8 replies (most recent on top)

You can voluntarily quit anytime. Just be ready to get nothing in return!

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Post ID: @1Axak+YDkJxJl

I also volunteered and was denied. I have seen others make it work. I think only if you have a great relationship with your boss who is willing to pull strings for you. Good luck.

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Post ID: @lplx+YDkJxJl

I think reason number 2 is the more likely reason. I had a manager tell me he kept an employee because they had a low salary (basically not much more than an entry level worker half their age) despite poor work quality and quantity.

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Post ID: @2npd+YDkJxJl

@Post ID: @YDkJxJl-twj

Hi just my opinion from what I notice over the last 15 years.

  1. Maybe they kept you because your a better worker ? You have more skills ?

  2. Your being paid less than your 2 friends , so they were let go because they were more expensive then you.

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Post ID: @1gtl+YDkJxJl

If your dept is planning in the future to make cuts at your position related to outsourcing than you can offer to volunteer. Please keep in mind I would speak to HR because your manager may be less than forthright about future planned layoffs at your position because they do not want to lose you. Fortunately my boss is a class act and helped facilitate it for my co-worker. My co-worker wanted to leave anyways and my boss does not end up having to let someone else go so everyone wins and no bad feelings.

I do not know how your manager operates but mine is the best and tells us everything. We always know well in advance what upper mgmt has planned for our dept in relation to how many bodies and when. State Street is mostly a garbage company now, but I am fortunate to work in one of the few diamonds in the rough.

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Post ID: @1ybn+YDkJxJl

@YDkJxJl-twj I agree that it is odd for a company to accept a voluntary layoff. Everyone knows that the outsourcing will continue and has been going on for a while. My argument is and always has been that all companies that are outsourcing should be fined for doing so. Where are these displaced workers supposed to find employment?

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Post ID: @1kpk+YDkJxJl

I would not

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Post ID: @lyl+YDkJxJl

I volunteered and was denied, so I just left. Two friends of mine also volunteered for a layoff and their wish was granted. Seems like an odd way to go about this.

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Post ID: @twj+YDkJxJl

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