Well I guess this is bad news for people looking for jobs.
State Street had planned layoffs and automation, and recently shared some details:
Reductions are 1,200 across higher-cost locations offset by 900 new roles added in “global hubs” in India, China, Poland and elsewhere.
Where is MAGA when we need it?
Melania (LOL) has nailed it:
“BNYM is a low revenue stream dinosaur that has a meteor headed it's way.“
Simply by not spending every penny (and more) of the Trump tax cuts like a bunch of drunken Kennedys this bank would have earnings.
Well that didn't take long, blame it on Trump lol! The economy is doing great, unemployment is at a all time low. The fact that Charlie Shart and the others at the top can't keep afloat in this current economic upswing says more about their lack of business acumen than the person in the White House. Trump even gave them all that tax relief and they p-ss-d that away.
BNYM is a low revenue stream dinosaur that has a meteor headed it's way. The one at the top leeched from this company for too long and not enough was invested back into the company, it's finally catching up with them now and it's not up to Trump to bail them out for it. Work somewhere else and you'll see other financial companies are thriving, BNYM is the exception.
And this is why I got the hell out of Financial services, folks. When I left BNY, I left the industry as well. There is no future in it. Unless of course you're in India or you're an AI robot. Take your transferable skills, polish up your resumes, and get yourselves back out there.
This is an industry wide movement right now. More of the same. Nothing to see here.
State Street getting ready for a merger? Maybe with BNY? Two loser companies = one GREAT big loser company.
Not my idea of the G in MAGA, but a lot of MAGA has been a disappointment.
Thats not even news. State Street has been [eliminating, slashing, reducing] jobs for months. They might be even worse off than BNY. Or maybe it’s a contest? LOL (not)