Custodian bank State Street Corp plans to lay off 15 percent of its senior management, Bloomberg reported on Wednesday, citing people familiar with the matter. The lay-offs, which will affect executive vice president and senior vice president... — read more 

It’s very quiet lately... calm before the sh-- storm. LOL!!!!

You don’t need 95% of the c-ap you spend your pay on. Fact. Start taking a good look at why you spend on what you spend on. If you are in debt due to mortgages and cars, you’re doing it wrong. You’re welcome.

First of all, I don’t want to be taken the wrong way. I applaud that the new CEO had the guts to start cutting from the top. Regardless of that, I see some hypocrisy in our perception of this News. When nothing is happening, or regular workers are... — read more 

The layoffs will also be worse than they are reporting. It will be more like 30% of all employees getting laid off. Just thought I’d let you know. ;)

To VPs and above from Cyrus at SSGA. Anyone wants to share the email?

State Street may lay off 15% of senior management https://www.businessinsider.com/state-street-plans-to-lay-off-15-of-senior-management-2019-1

49 here. No debt. Paid my mortgage off last year (only had a 15 yr mortgage). Never let the wife talk me into buying a bigger house we don’t need. We live in an upscale town, house has doubled in value, I see no reason to trade up, ever. Both cars... — read more 

Can anyone advise what the Severance Package is for BPs and MDs?

I know everybody is happy to finally see senior management face some consequences for what they've done to this company, but I wouldn't celebrate too much. Not because they don't deserve it, they certainly do, but because none of us are safe right... — read more 

The retirees from IBM and London Stock Exchange enjoying the Omnia show and collecting big fat checks for reinventing open-source code and cloud. Omnia produced nothing in 2018. Beacon is a Indo-China center for outsourcing.

Time to say goodbye to long-time PR flack, sycophant and poser Hannah Grove?

Ha Ha Ha... its finally happening!

It’s odd how all companies give raises and bonuses and STT only selectively hands them out. That’s wage attrition. Hoping you can barely sc-ape by and leave for a new company never to fill the void.

Sorry the job market is not kind to people over the age of 50, most companies view us as expensive workers. So they prefer to hire the cheapest lowest skilled workers they can find. Even if you do find a job its going to pay you 30% to 40% less than... — read more 

Oh how wonderful it be to have the Ghosts of Christmas past, present and future visted the CEO and Board of Directors. Show them how they have destroyed the lives on so many former State Street Workers. People making 35% to 40% less due to their new... — read more 

Heard it from a friend.... layoffs happening first quarter of 2019. S---s to work at state street, lol.

As much as some people on here didn't like Jay Hooley I think we will miss him in 2019. We did get some cost savings though. Jay was making 16 Million. Ron will only be getting 10 million this year.

The company has diversity and financial goals to meet. If your peers are women and especially non-white women you will be the first to be shown the door. They get two birds with one stone. Cost savings and an instant boost in diversity ratio. So much... — read more 

We need our clients to demand their accounts are serviced by people in the US.

I wonder if investors are aware of our CEOs dark past. We are pushing ESGs, but the guy running the ship withdrew from law school for plagiarism.

STT just spent 2 billion on a tech company. Say good bye to your IT contacts.

I would advise you to work very hard during the day and look for job after work. Increase your odds of retaining your employment.

Get your resumes ready. They have to make it up somehow.

Does anyone know what the strategy is for 2019? If you are reassigned to delivery are you doomed? What about client service? It seems like they want to get rid of COEs.

There should be a penalty for moving work offshore in bulk.

When you see the term spans and layers in communication, that is code for eliminating management. If you are a manager and you lose your direct reports - you are in trouble. If you are given more staff someone near you is in trouble. Stripping you of... — read more 

Did anyone notice the 30% decline in stock price? That's what happens when you spend 2 Billion on an acquisition and have nothing to show for it. They are going to move as much work to india to make up for it.

They are not replacing any onshore reqs unless you belong to a client facing group.

We received prep documentation about how to communicate undisclosed changes and company strategy to be announced Q1 to staff.

Was just on a call where my department head was talking about how they had to pump the brakes on layoffs because they ran out of desk space in Hyderabad and Bengalaru. Guess they'll be between 500 and a 1000 more seats before end of Q1. Also that... — read more 

How did you like the review process this year? You did not even need to participate. Take your unjustified rating and eat it.

I’m watching senators from Michigan right now discussing GMs layoffs and the devastation where was it should I say where IS Lizzie? Ed? Crickets! And I’ll bet you all voted them back in too.

Does anyone remember that StateStreet gave us a day off in lieu for the passing on Ronald Reagan? Why aren't we getting one for Bush?

I'm not sure where all the worry is coming from. What I'm reading seem to be mostly rumors that never materialize, and we haven't had any layoffs in quite a while, from what I can see. Not that there'll be no more layoffs, I know there will be, but... — read more 

I heard some folks working on the AIS side are being forced to work from home 100%. There will be no permanent desks for FR and fund accounting staff.

Or, it'll be all milk and honey in 2019.

The move is globally to low cost area not only India and Poland. Impacting not only US but also EMEA and APAC. State Street is about to open a pandora box sooner or later.

GOOGLE? Can everyone have the wherewithal to rally for higher wages for regular employees and better conditions without fear of layoffs? Where’s our senator? Isn’t she good at protesting? Smh