If STT strategy is to replace US employee with cheap offshore resources in other countries, is it possible that far more than 1200 will be laid off this year in US to make up the head count increase in other countries? By the way, anyone know the current percentage of employee are in US ?
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A lot of roles in Ireland are being moved to Poland and India too. Like the US, it’s been happening every year since the mid-2000s.
yes!, 1200 is NET. so realistically its 4-5000 + 6200 in India and Poland!
Just off the top of my head, I would say US head count reduction will be closer to 5K. Opinions?
When I was there I had a large group of people I interacted with in other departments.
So when the layoffs started we would call each other to find out who got the ax.
Today with most U.S workers gone, its very hard to find out what departments , buildings and cities were hit with layoffs.
Mgmt is not going to send out a list telling you what department and building and city got hit with layoffs
I thgouth TM = Laid off.
Ur given notice that ur job is gone so you go into talent mktplace for a bit and then ur gone with sevrance.
Layoff or TM?
@5jmu+19gBquM5 - Boston.
@5sfz+19gBquM5 - can you share which location/Office you guys are in.... Quincy, Boston?
Layoffs today. Don't know how many but colleague got the call.
Any update when the IT lay-off notification status?
Layoff in US and recruiting from oversea will accelerate for sure in absolutely most of the companies in the next four years. Just plan your family well with dwindling income each year. Do feel lucky if you still can have a job in the banking sector.
@Post ID: @2uek+19gBquM5
Hopefully you will get the new job offer 1st, then be laid off so you can also get your severance package.
A new job and a servance package would be a great happening for you.
As a former discarded worker of 25 years, I remember my last 10 years at this company
- Working 50 to 60 hours a week
- Doing the work of 3 people (thanks to layoffs)
- Coming in once a month to work saturday
No one will miss you. It is obvious you are a waste of space.
Sorry for my typos in the previous post.
I think I’m hitting the road if I get the job offer I’m hoping to get. I can say I worked well over a year and a half I’m one year last year for the amount of hours I put in. It’s humanly impossible to work like that and have any semblance of a normal life. I hope I get the job offer. I think all my hard work has been not noticed certainly not admired just as an indentured servant Very disheartening. They will miss me I do the work if 5 ppl so it will be a nice big far void of huh experience I take when I leave. I pray to fox I had the offer.
This company has been laying off U.S workers since 2005, and replacing them with
imported H1-B workers.
You have U.S workers now doing double and sometimes triple work loads without any increase in
pay.
The motivation from Mgmt is be grateful you still have a job, now work work work
You are correct!! The comments from executive management that only 1200 will be laid off is a smoke screen. They continue to hire like crazy over seas in low cost areas. The 1200 is a net number of lay offs.
Whoever wrote this clearly understands how State Street's management thinks and acts towards hard working American staff.