Effective 8/1 US Severance packages eliminating minimum weeks per job to just Years of Service. Previously a VP would get 14 weeks + 2 weeks per Year of Service. Now only 2 weeks per year of Service. That’s why layoff news is quite. Keep... — read more 

“State Street is now aiming for 2,300 job cuts in 2019, it said. A spokesman told the Business Journal that the 800 additional cuts would come from natural attrition tied to the hiring freeze, not through layoffs”. So if you you think your next... — read more 

From Boston Business Journal: "Following another weak quarter, State Street Corp. now plans to cut 2,300 jobs in Boston and other higher-cost locations this year, 800 more than it had previously targeted. The Boston-based company (NYSE: STT)... — read more 

Anyone know what the current redundancy package been offered in Ireland is?

State Street is a great place to start your career whether you are new to the industry or making a job change above all before accepting a job offer ask about the high deductible Heath Insurance that may or may not be right for you regardless of your... — read more 

Last week, State Street got hit with $95 million in fine for overcharges to clients(https://www.financemagnates.com/institutional-forex/regulation/sec-hits-state-street-with-95m-fine-for-overcharging-clients/). Got to wonder if more layoffs planned... — read more 

very quiet on the lay-off front for months

State Street Corp. will move its corporate headquarters to One Congress, a 1 million-square-foot office tower currently under development. A partnership of National Real Estate Advisors, Carr Properties and The HYM Investment Group is constructing... — read more 

The department I'm in is currently seeing a more proactive approach to off shoring. Anyone know which departments are up next n the chopping block?

Looks like our problems are now being talked about on Bank of New York Mellon forum as well: https://www.thelayoff.com/t/ZwhogmL I think direct link goes like this @ZwhogmL.

Nobody is safe anymore indeed. I can tell you with 100% accuracy that upper mgmt has recently admitted that they have recently let go of people too fast without finding out if their offshore counterparts could do the job. Do you want to know how... — read more 

Apparently the board is nervous and fear a takeover given the low stock price. If the price continues to drop it may happen. State Street is almost to the point where it would be attractive for a larger company.

Half the people laid off were either taking hour lunches mowing their lawns or bringing kids to school jokes on State Street

I am amazed with all the layoffs, and the poor quality of work being done in India. How this company has not lost any major customers. But then they seem to do a good job of keeping things out of the news. I pity the U.S workers already doing double... — read more 

6% additional plus 1500 executives on top of 70000. Who is going to be left to run the show in Boston? Who will the clients meet with locally? That used to be the safe harbor role were your customer facing roles. Does anyone know the impact on our... — read more 

How soon should I expect they lay off? Really distressed.

All the years with chronic layoffs and I have yet to see real time honest tangible accurate detailed information on here. It’s either ppl complaining about the company or former employees giving bad info or insight and worse still the trolls that lie... — read more 

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... — read more 

There is life after State Street. I was RIF'ed last year that found a job in 4 weeks with better salary and benefits. I am 50+. The upside is it is a great employment market.

Heard there were going to be layoffs in fund admin starting tomorrow and happening throughout the summer Any chance we can get some more info on this?

It’s no coincidence that the mighty Clipper started to sink when the acquisition of IBT occurred. IBT management came in and took high position and kicked out SSC folks. Now that most high level VPs come from IBT, are they to blame for the current... — read more 

“Noted banking analyst Mike Mayo warns State Street shareholders executive pay is too high”. Really? You think? I know my salary is getting to be close to the new minimum wage the libs want to award kids in high school for their summer jobs too. Once... — read more 

Nothing like a poor earnings report (down $3.00 at the open) to boost moral! More layoffs are eminent.

They get pensions but us here at state street nothing No presidential candidates helping us. No governor or mayors helping us. They care not one iota about us. But go ahead keep voting in the same hypocrites maybe next time they’ll come to our aid... — read more 

I'm talking about major rounds - not the small cuts we are witnessing each day.

The first Wednesday of every month appears to be reserved for Layoffs. I heard there were more coming the first week in May. I hope for more on the business side this time rather than IT. A large portion of the higher up business people are... — read more 

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... — read more 

Why can’t we get a pay raise? It’s been years without an actual raise. I’m tired of “big banks” being demonized by 2020 potus contenders. Who’s going to manage all their money? I’m so tired of making ends meet with a top college degree excellent... — read more 

Just heard some upper management got hit today in GA.

I was a 15 year SS employee until last summer. During the past 18 months as we moved 80% of my Fund Admin team to India, the output from India was awful. Those of us left in Boston worked our tails off to fix the work and keep the client happy. But... — read more 

https://www.bizjournals.com/boston/news/2019/02/21/state-street-in-settlement-talks-with-sec-over.html HUGE cuts are coming in addition to the already scheduled layoffs for the end on 2019, so they are able to pay the lawsuit settlement. $267 billion... — read more 

layoffs are coming.

It's starting in Quincy already today. 2 layoffs that I know one of so far. It's not looking good for the rest of us since the 2 were the first 2 to arrive at the office today. Good luck to everyone. Does anybody have any more info on this? Have any... — read more 

No one is hiring anyone over 50. Better make as much money as you can by age 49 and pay everything off before age 50. Gone are the days of working until 60. I’m dirt poor again like when I was in my 20s. All those years of working and saving, all to... — read more 

Good luck...lol.

Most of my department got comp info this week. Many of us got high ratings but no raise & a very low bonus. I can't imagine what people with poor ratings received. It was expected, especially in Boston & Quincy, but frustrating still. We worked... — read more 

Thete is nothing factually based posted here. Old lies. Innuendoes misinformation and disgruntled ex employees sowing the seeds of hate and bitterness. Nothing to see here don’t waste your time