Had enough of this place, and am looking for a change of scenery. Been asking my manager for the last 18 months to get laid off but it hasn’t happened even though there have been multiple loses in my team. I am in the category of too competent and don’t make a ton.
Been with SSB for almost 20 years and would like to leave with something to show for it and a income stream while I look for something I care to do.
Anyone got any tips to increase my odds of getting selected?
Good companies don't want unemployed losers.
Don't be a fool, look while you have a job.
It is horrible getting laid off, you will regret it.
I highly suggest looking for a new role while you are still employed. It’s not that easy to find a new role and it takes time.
Age 55 rule explained - link below.
https://www.kiplinger.com/article/retirement/T001-C000-S004-retiree-tax-tip-the-age-55-exception-for-401-k-s.html
There is an age 55 rule that allows you to access your 401K without the 10% penalty from the employer that you retired from at age 55 or older. If you move the 401K to another broker after you leave the company then you have to wait till age 59 1/2. Google the age 55 rule for 401k.
There is an age 55 rule that allows you to access your 401K from the employer that you retired from at age 55 or older. If you move the 401K to another broker after you leave the company then you have to wait till age 59 1/2. Google the age 55 rule for 401k.
@Post ID: @Z1zrPd2-1wmp
Sorry do some reading on finance, at age 55yr you can access your pension with paying a penalty.
You must wait till age 59 1/2 to access your 401k without paying a 10% penatly.
Start taking withdrawls before age 59 1/2 you and are subject to a 10% penatly
You can tap into your 401K from your last employer at 55, not 59 1/2. If you leave SSC and don't move your 401K to another broker then you can tap it at 55.
Most people who are still there and over the age of 50yr, are just praying they can make it to age 59 1/2 so they can tap their 401k without paying the 10% penalty tax.
We are the ones putting up with the c-ap trying to make it till 59 1/2 and better age 62 so we can take early Social security.
Everyone begging to be laid off must be people under 40yr, living with roommates or still with their parents. So they do not fear becoming homeless.
Just start looking for something outside of SS, and jump ship when you find it. At some point, the severance that you may receive is not worth the peace of mind you'll find in a better situation.
Your best bet is to push the HR rules to the max, without breaking them. call in sick as much as you can without breaking a rule and at inconvenient times. Use every benefit to annoy your boss. Go on short term disability--Stress related? I'm serious if you annoy your boss enough, it will come, however it will take time. Don't provide any details around ailments - they could be sued if they knowingly fire someone who said they had cancer. But if you just get the flu or the stomach bug alot, you can't sue them for firing you, especially if you don't tell them. Statestreet isn't stupid, if they think they can be sued they will avoid. So don't give them information.
the point is, push all the rules to the max without breaking them. Good luck
Typical responses from long time SS employees! So arrogant....yet so misguided. Why bother going to see an attorney? SS is not obligated to lay you off or provide you severance. How misguided and misinformed.
I will flip this discussion---what do you have to lose? You hate working at SS. In fact it's making you sick. So why not seek out a top rated employment law attorney and see what they would suggest you do? It will cost you less than 2 hours of legal fees and may get you where you can't get to on your own.
Sure...do nothing because you know all the relevant laws and how they can be applied in your circumstances. What a joke. If you take this approach you deserve what you get...a terrible working environment and no way out. Try a new approach...you have nothing to lose.
I don't believe the company has any obligation to lay us off and provide a severance package just because we ask for it, so what would be the point of seeing an attorney? And trust me, nobody reading this wants to get laid off from this place more than I do.
Copied from @Z1zrPd2-qmi Your direct manager has no say in who gets laid off. It is typically decided by a senior VP or higher...often times someone that knows little or anything about you. It can be based on your direct group for example if your client group recently had work move to india. So they will look at a client group and determined at what level they no longer need, how many and then from there who costs the most ...maybe on a smaller scale if someone is incompetent.
They care more about Money than quality so if you are cheaper than someone else in the group you will stay before the other person unless you are so woefully bad it is obvious . .the best thing start s---ling really really bad....they may still keep you if you are significantly cheaper.
I couldn't have said it any better and I agree with everything that you said. So many of my peers have either left State Street or been outsourced. Not sure about increasing your chances of getting selected. You just need to update your resume and leave State Street on your own. Of course speaking to any attorney as suggested isn't a bad idea either.
@Post ID: @Z1zrPd2-qmi
And that is the problem too many experienced excllent workers are being dumped because of their salary, while the lazy workers who produced low quality error filled work are being kept.
Your direct manager has no say in who gets laid off. It is typically decided by a senior VP or higher...often times someone that knows little or anything about you. It can be based on your direct group for example if your client group recently had work move to india. So they will look at a client group and determined at what level they no longer need, how many and then from there who costs the most ...maybe on a smaller scale if someone is incompetent.
They care more about Mooney than quality so if uou are cheaper than someone else in the group you will stay before the other person unless you are so woefully bad it is obvious . .the best thing start s---ling really really bad....they may still keep you if you are significantly cheaper.
Go to see an employment lawyer and outline in detail your history and current position at SSand ask the lawyer to provide you with the appropriate wording to discuss with your manager in order to get the lay off and severance you asking about.
You cannot, as you have done so far, simply ask for a lay off.
Get professional legal advice and then execute on the advice in order to get the lay off you want.