To continue getting breaking news and the full stories from The Boston Globe, subscribe today.

The Boston Globe

Business

Mass. Movers

State Street cutting 630 jobs worldwide

Around the world, State Street has 29,660 workers.

Bloomberg News/File

Around the world, State Street has 29,660 workers.

State Street Corp. plans to cut 630 jobs, or about 2 percent of its worldwide workforce, as the Boston-based custody bank continues to work on lowering expenses. Fourth-quarter net income climbed to $468 million, or $1 per share, vs. $371 million, or 76 cents, a year earlier. Excluding some costs, adjusted earnings were $1.11 per share. Analysts expected $1.01 per share,. Full-year net income rose to $2.02 billion, or $4.20 per share, from $1.88 billion, or $3.79, in the prior year.