Thread regarding State Street Corp. layoffs

2027 Budget Buffet

How are these budgets progressing for 2027? Who's cutting? Who's adding? Is AI going to save the day?


by
| 67 views | | 9 replies (last 23 days ago) | Reply
Post ID: @OP+1m3vz9r32

9 replies (most recent on top)

Any news? Have not heard anything in my space..

by
| | Reply
Post ID: @30d+1m3vz9r32

Let the Hunger Games begin.

by
| | Reply
Post ID: @2zh+1m3vz9r32

Other companies are recognizing that AI is expensive to their business. It would be ironic if humans in the long run are less expensive than AI.

by
| | Reply
Post ID: @2pe+1m3vz9r32

It's a great time to leave and get a rewarding job at a good company. Don't stay in the prison cell. Life is too short.

by
| | Reply
Post ID: @2fb+1m3vz9r32

@2d4 they get paid a lot, are safe from layoffs mostly, and do next to no actual work

by
| | Reply
Post ID: @2dc+1m3vz9r32

@192 thanks for the inside information.

I often wonder how leadership stays so motivated. I’m talking MD and above. They must have to deal with so much cr-p and the teams they rely on to deliver are often understaffed, underpaid, under appreciated (ie not motivated/engaged). When I was in a client facing role as a SA I felt extremely stressed every day. Feels like the leadership would have to deal with even more. On top of that, that office environment is depressing and draining. At least in JAB.
But yet the MDs and above seem super engaged and motivated. How is it possible? I guess they are well compensated with LTIs maybe? Or maybe they are just like the rest of us and hide it

by
| | Reply
Post ID: @2d4+1m3vz9r32

I don’t doubt this. Upper management is either clueless and/or are accepting of providing lesser quality to our clients.

We are being told to not be as thorough in our reviews. Tourist the technology and focus on high risk items in our reviews. We used to be a team with very few mistakes and the ere proud of our quality and now as long as our quality does not go lower to the point we need to pay back our client all is good.

Oh and into next year more of our work… complete client serving for certain clients are going overseas.

by
| | Reply
Post ID: @28e+1m3vz9r32

Earnings reported today.

by
| | Reply
Post ID: @24c+1m3vz9r32

I cannot say how high up I am but just be forewarned the cuts this year due to ORE's in a certain sub sector are going to be close to 27% we are told, and requisitions that are out there now are to be frozen, so be prepared to do more with less. I predict a mass exodus because of this and having what we have in foreign sectors will grow especially with India and now Philippines. When we were told it would exceed 20% we asked how they plan to do what they want or entice new clients if delivery service could be an issue, they said do more with less until we feel the sting. I for one am putting feelers out for a new role, I have been here over 20 years this is my time to leave, I cannot keep being a grim reaper to clients/team it is to depressing and I am sick to my stomach.

by
| | Reply
Post ID: @192+1m3vz9r32

Post a reply

: