Thankfully State Street will be able to keep the checks flowing to the investors and management, now that they've gotten the deadwood out of the way.

This headline is A LIE, the jobs are not being cut, they have been sent to INDIA and these people who are now losing their jobs are now "redundant" and they were used to train their replacements. I know this because I worked there for 14 years and I was forced to train my replacement as well.. I have attached a recent (July 19th, 2012) clip of the Greater Boston Emily Rooney show in which State Street is asked about their outsourcing of jobs from North Quincy and Alison Quirk a senior State Street executive refused to comment on (see clip). While I was at State Street I was forced to train INDIAN works to take American jobs. The Indian nationals from “SYNTEL” Corp in Troy MI, told me that in one city “Punea” there is a campus where approximately 1200 workers who are performing work only two years earlier had performed by State Street workers in the US, and they said the majority of these jobs came from North Quincy. You might want to address this with State Street (Jay Hooley or Allen Greene) and or speak publicly about this State Street Program – which occurred after State Street received a $2 Billion TARP Bail out from Americans who they subsequently laid off.. http://www.wgbh.org/programs/Greater-Boston-11/episodes/July-19-2012State-Street-outsourcing-40276 Oh, and it is nice to see a member of the State Street Joint Venture team located on the third floor of the John Hancock Tower out here posting about State Street Layoffs !!!

It's George Bush's fault.

Well. since the Globe will not report on the joint venture being run by Allen Greene at State Street which is causinbg all of these layoffs,  I guess I will do it.. When I was working at State Street a year ago, on the third floor of the John Hancock Tower,  the work being transferred to SYNTEL was compliance work and it was NOT going that well.. The Indians who had taken our compliance testing often went home before the work was really done, because they were working 1t 1:00am their time when it was 3:30pm in Boston. The Compliance team, our VP specifically, was in such a hurry to train athe Indiqansa nd send the folks back that they shortened their training by 1 week which didn't help the Indians understand complicated SEC and IRS testing. The funniest thing of all, is that our clients were now paying top dollar for really sensitive IRS and SEC testing to be done, and when I left this work was now being done by peeople nine time zones away from the US who barely new what they were doing, and they were half asleep.

After our initial meeting when we were told there would be no layoffs and that we could merely find jobs eslewhere within State Stret after our work was sent to INDIA - one VP turned to the senior VP whose naem was Phil and asked "PHil" what would they do if some of "them" couldn't find jobs eslewhere within State Street, and "Phil" turned around and said to her "we'll make-em leave" and they both laughed, like this was a funny event for them.