I can't help other than to ask the question..."Why?"

https://www.bostonglobe.com/business/2016/03/29/state-street-official-pegs-staff-reduction-workers/89HmTzw98F6AvUCVyA9A4I/story.html

Just announced--check out the WSJ article. When will the embaressment for this once great company stop?

Hey anyone know why SSB is still keeping the Westboro data ctr open ? I mean they spent a fortune on building the state of the art Grafton data ctr From what I heard Westboro is obsolete

Interesting most the employees I know had declines higher than %40. What a "generous" gesture from management making millions ... and trying to improve stock price with layoffs and stock buy back.. which is a sign that you have no idea how to grow... — read more 

Following news story in Bloomberg Two former executives at State Street Corp. were indicted in what the U.S. Justice Department said was a “brazen fraud” involving secret commissions applied to billions of dollars in securities trades. Ross McLellan... — read more 

https://www.bostonglobe.com/business/2016/03/29/state-street-official-pegs-staff-reduction-workers/89HmTzw98F6AvUCVyA9A4I/story.html

Looks like the money was used to buy the following company So State Street will add the number of employees GE Electric Co asset mgmt to its own. There for claiming an increase in the number of State Street employees (lol) Goot State Street Corp... — read more 

State Street Corp. believes that it will have to shrink its workforce by up to 7,000 workers by 2020, through layoffs, turnover and moving employees to new ventures as it tries to reshape itself into a more technology-driven company. The Boston-based... — read more 

Rumor has it State Street might be selling their state of the art data center in Grafton. I thought this was suppose to be their DR site ? Maybe they decided since they outsourced to IBM, IBM has many DR sites .

State street has lost its mojo. I long for the day where energy and positive attitude counted for something. Senior management is in lock down trying to squeeze out every last drop of cash before they tank the place

State Street ranks No. 28 on the Kansas City Business Journal's Top Private-Sector Employers List, with 1,518 full-time-equivalent employees in 2015. In a 2013 story, the local presence was referred to as the largest outside the Boston area. Kansas... — read more 

My gig there was a 30 year run. Last week a HR rep informed me of a position in SSGA. It was a first line manager position (title I had before my release)and after HR sent job description I informed HR it was a good fit. On 3-17 a resume was sent and... — read more 

It was the company everyone wanted to work for because of its excellent pay and benefits. Recruiters would constantly call asking workers about any openings in their dept. Hell some recruiters would offer to pay you for information about job... — read more 

Can someone help me make sense out of this: Chief Financial Officer Michael Bell said last month that State Street aims to replace outside consultants with full-time staff

The company seems to freely spend money when it build a new office bldg on the Boston Waterfront. They have offices small and large scattered throughout Boston and Quincy. Maybe its time to consolidate some of the buildings if they truly want to say... — read more 

I wonder how many major mistakes are being hushed up to avoid panic among the clients. From what I heard the quality of the new support teams in India and IBM leave a lot to be desired. Unlike the dedicated U.S workers who gave their all each day... — read more 

Pretty sad.

Seems very high to me from my informal poll. I know 8 females and 3 males. There is a lot of luck of who you have as a boss and how well you get along. Pretty scary that you are one bad boss away from getting handed your walking papers even after a... — read more 

Are all three units affected - I do not work for the company.

Miserable place to be for the last few years. I still haven't recovered since getting kicked aside in 2014 after more than 20 dedicated years. These execs should be ashamed of what they have done to a great company and the dedicated people who made... — read more 

WOW! I worked at SSB w/Marsh and loved it and then worked under Mike Rogers at IBT. He was interesting. They are very different. I see Mike brought over his posse. Kathy Keenan was a joke. She made me put in 3 forms to get an upgraded desk phone when... — read more 

We need to humanize this tragedy. A few have done so already -- saying how long they were employed, the impact the company's culture had on their family relationships and their own health. Describing how difficult a job search has been after being... — read more 

That's the rumor on layoffs, take it with a grain of salt though

It definitely wasn't easy to find another position and I am still struggling since my current position is a much lower paying job. Best wishes to all who lost their jobs recently. I do know of quite a few former State Street jobs that landed some... — read more 

Sounds a lot like 1995. Then the entire NY office was downsized and moved back to Boston and we all lost our jobs.

Just how to feed, house my family.

I was dumped around 2009 and I can tell you from 2003 and on its been a living hell at State Street - There was a time when they did not give out raises or bonuses for 3 straight years. People saw their workloads double and triple as staffing was cut... — read more 

You can actually go back farther than 2013 for job cuts. They used to have the annual "trimming of the fat" (i.e. Laying off low performing employees), however after the financial crisis in 2008 they have had frequent layoffs. For a while in 2009... — read more 

If that’s not enough to turn you off about State Street think in terms of boring monotonous work, very low pay and extremely high turn-over rate. There will be limited room for career development and growth. You will be expected to work long hours... — read more 

Who else remembers how well the company was run under Marsh Carter ? A man who treated all workers with respect and made them feel like valued members of the State Street team. Maybe the Board of Directors need to vote to replace Jay Hooley with a... — read more 

Everyone with half a brain understands that this company and those running the show put profits over people 100% of the time, and they couldn't care less about community or doing what is right for the common person. You don't have to look too deep to... — read more 

The arrogance of Jay and his senior team knows no bounds. CFO mike bell must not have played nice in the sandbox so he was thrown out with the trash along with the hundreds of senior and executives let go today. Sadly this is not over.For a visual... — read more 

I heard there would be more on wednesday. I am guessing they don't have enough HR people to do alot in one day.

Rally then news abounds politicians abound the public abounds it has to be done NO more excuses! Hey hey ho ho Jay Hooley has got to go Do it!!!!!!!!