...you know what this means...Get prepared

Bad news in Q1 Earnings report = layoffs ahead ROE fell to 12.4% Pre-tax income was down 2% sequentially and down 13% over the prior year. Trust, investment and other servicing fees were down 9% from last year Assets under custody and... — read more 

Leaving the company soon. Anyone know if theyll pay me my unused pto?

Been here just under 18 years. NT is nothing like it was over 25 years ago, layoffs every 1-2 years, they work with Boston Consulting Company, morale is awful and more cuts happening. I am in same boat as you, looking for an organization that is... — read more 

Things are not looking good at NT or the banking sector in general. I think we're headed towards another major round of cuts within a month or two at the latest. Usually, I wouldn't be that worried, I know my worth and I know what I can offer to... — read more 

Ok so the company I work for within this industry is FULL of non stop complaints, issues and frustrations of the company on this website. What’s the deal with NT? Why’s there no one complaining nonstop on here??? Do I work for the wrong company?... — read more 

Any word on bonus pools this year? In bad market years past it has not been pretty.

I currently work at BNY Mellon. Our CEO recently announced a change to the 401K plan. Currently our company match (max 7%) is implemented each pay period. Starting in 2023, the match will be paid at the end of the year (actually, three months after... — read more 

All asset based fees will be hit, which is a leading indicator of layoffs

Overemployed is a taking 2 remote full-time jobs to diversify income streams. https://overemployed.com/ https://www.reddit.com/r/overemployed I know people that have been doing this for years

Keep Jobs at home – Tell NT/B3 and politicians that >75% of bank jobs must stay in USA The automobile industry is required to have 75% domestic content under NAFTA. Should US-based banks also be required to keep 75% staff in the USA? (Yes) If... — read more 

According to PwC, a survey of 700 executives and board members from various industries conducted last month shows: Layoffs Definite Layoffs: 51% have started layoffs or are planning to start layoffs Potential Layoffs: An additional 19% are... — read more 

Quiet Quitting is the intentional employee dis-engagement from the workplace, doing the minimum to get by, lacking all enthusiasm for the company and its “mission”. U.S. employee engagement is falling, according to Gallup data, but Gen Z and... — read more 

Everything you do on a company PC can be recorded, like looking at this page. This info can be used to score the most/least active employees and can help identify those for termination. This software is best for tracking activity or quantity of... — read more 

Be prepared for RIFs, every other company in our industry is having them.

If the Q2/Q3 2022 ROE falls below 14%, layoffs are forecast by late 2022 or early 2023. NTRS layoffs in the USA typically increase as the ROE trends downwards. For example, ROE fell below target before the major layoffs called "project excellence"... — read more 

The MSCI ESG Investor Snapshot on NTRS, dated May 31, 2022, noted Northern Trust client lawsuits under the category of Recent ESG Controversies. Client lawsuits raise the question of whether NTRS Governance standards & practices fully meet legal... — read more 

www.Execpay.org reports "Top executives at Northern Trust received an average $5M per person in annual compensation from 2006 to 2021". 2012-2021 NTRS Exec Pay of $295 million exceeded the $250 million "Value for Spend" plan. From an ESG... — read more 

...But independent committees would limit insider trading & exec pay :-((( on B3 "The company appears to lack independent pay and audit committees, which could indicate potential gaps in management oversight. Further, some non-executive board... — read more 

Insiders avoided $9 million in losses by selling ahead of the 2022 decline. "Our core principles —Service, Expertise, Integrity (& insider trading) — have remained constant since our... — read more 

"The boss of Chicago's largest locally headquartered bank cashed out more options in May and December than the number of shares he currently owns." December 13, 2021... — read more 

NT India has 5600+ jobs. How many jobs in Chicago? About 4000-5000?

NTRS close on June 17, 2022: $91.68 NTRS close on June 9, 2017: $91.75 More sales and profit would help...but growth is slowing so that leaves layoffs

Brennan Hawken forecasts bank layoffs coming. Is it just a coincidence that he covers NTRS for UBS? June 1. https://www.businessinsider.com/wall-street-hiring-freeze-layoffs-investment-banks

Layoffs typically increase as ROE trends downwards. And falling asset prices cause variable fees to fall. So, does the 2022 bear market point to NT layoffs? What is the correlation? The NTRS Q1 2022 ROE of 14.2% was in line with the target range... — read more 

ESG gurus just banned Tesla for not being ESG enough while Exxon is OK. WTF! NT is very exposed to ESG indexing... but when investors realize that ESG is leftist BS they may exit these strategies. They should. NT does not have the economies of... — read more 

Ken Griffin expressed concerns in an interview with Bloomberg News. “We’re getting to the point that if things don’t change, we’re gone,” Griffin told Bloomberg. “Things aren’t changing.” The Citadel concern is shared by many IL companies -- costs... — read more 

Starting a job with NT next month and they’ve asked me to bring proof of vaccination. I have the first dose but have not gotten either of the boosters. Can anyone tell me what Northern Trust requires as far as vaccination goes?

Page 61 of the 2022 proxy statement says the 2021 annual total compensation of the median employee was $72,300. Does median include all offshore staff? "Our median employee was identified as of October 1, 2020, using the total cash... — read more 

"Severance benefits that include: a lump sum payment of two weeks of base salary for each year of completed service up to but less than 25 years, or 52 weeks of base salary for 25 years or more of completed service to us; and a COBRA subsidy... — read more 

INTERESTING! See here: https://www.sec.gov/Archives/edgar/data/73124/000119312509087113/dex10iv.htm

"The Northern Operating Services Private Limited (NOSPL) was launched by Northern Trust in Bengaluru and Pune in 2005 and 2016 respectively. NOSPL combines the Northern Trust heritage of market-leading products and services with a highly dedicated... — read more 

When the canary leaves or dies, it's time to evacuate before you become the next victim.

NT CEO "RW" warned you in 2010 that IL. was broke as part of a campaign to save the Illinois economy. Did anyone listen? Not many, which is why jobs offshoring is now the... — read more 

Hiring activity across global in-house centers in India is expected to post 31% growth in 2022 as compared to 27% growth in 2021. 2022 Hiring is expected to see 31% growth across seven key sectors - automotive, BFSI, global in-house centers, heavy... — read more 

Indian wages are about 1/10th US wages. This makes offshoring more very attractive. The Indian rupiah has lost almost half its value vs. the USD since 2007 and now trades at almost 77 to one $USD. $US is also very strong against Euro and Yen...so... — read more 

Financial analysts at NT Bangalore report on Glassdoor that annual compensation averages 335,000 indian rupees ($US 4,400). This is less than 10% of comparable Chicago wages. NT can hire 5 Bangalore analysts for each Chicago layoff and still cut comp... — read more 

Lot of talk about layoffs but global jobs rose 4.5% annually since 2010, from 12,800 to 21,100. Many layoffs have occurred in high-cost Chicago but global jobs are up 8300 over 11 years.

SEC FORM 10-K For the fiscal year ended December 31, 2021 Page 15. "Northern Trust employed approximately 21,100 full-time equivalent staff members as of December 31, 2021. The regional breakout of our workforce is 43% North America, 39%... — read more