This is a master thread about State Street layoffs? Any chatter, news or rumors?
11 replies (most recent on top)
COBRA is always an option. It's one of the few times you can start insurance after you need it, since the law gives you 60 (or 90? - check, don't take my word) days to decide to sign up, and effective date is retroactive. I was waiting to see if I'd need it, and got rehired by SSC. My sign-up page changed to new employee benefits instead of COBRA so I couldn't decline. SSC kept sending inappropriate dunning letters for the COBRA premium which I ignored.
Walk away from the dysfunction. It won't change.
To state the obvious, people are posting about layoffs because that is the topic of this thread…not to mention the site is called the layoff.com…
@Post ID: @8lpu+1dLHdwYT
Yeah right, add more H1B workers to State Street
Add more contract workers to State Street
And I bet the jobs being added will be locations outside the U.S
There will be no layoff in 2022, I heard they are looking to add more people as the economy is doing better. SS is doing better overall as stock price are going up and interest rate will be moving up so in the long term will be great for SS.
@Post ID: @5ebs+1dLHdwYT
When the company lays of people with 15+ years of experience and outsources jobs to less qualified people.
The work being done is going to suffer , the support teams are not going to be as effective as the old staff was.
When you have people with less than 3 years of experience training new hires the work is going to suffer
Senior management lost control of this company years ago. They can't get this ship to sail. They keep eliminating sailors expecting success, but you can sail without maintenance and a good crew. Go SSB...your competitors will win the regala.
milk the state street, keep piling, use whatever you have legally to delay the termination, like health conditions, close to retirement, every day you drag on, it is a loss to them and a Gain to you.. they owe you from day zero..
@Post ID: @1ncn+1dLHdwYT
One thing a lot of people do not realize is, when you go on Cobra to continue your health insurance.
You no longer pay the employee rate but the full insurance rate.
My employee rate was $300 a month the Cobra rate was $800.
So I did the Health connector for $400.00
I met up with an individual that had had his layoff delayed a few times.
His new date is March 2022.
Between the time I was laid off in 2012 and his layoff a lot has changed.
For him, once terminated, it's a lump sum payment.
I had payment spread out over 39 weeks.
For health care, I was on SS plan, then COBRA.
After that I went on early retirement health care.
For him, he called the state in regards to Mass Health Connector website if he could skip COBRA and use their site.
MA said yes.
Thought he would need to go COBRA, then MA Heath Connector.
Why do people keep posting the same topic LAYOFFS
The company has been doing yearly layoffs since 2005 and will continue laying off
people.
Outsourcing jobs , bringing in H1B workers to the U.S