State Street reviews

Having left State Street in February just before COVID-19 I could see the turn the company had taken and was fortunate to get out before shutdowns kicked in. State Street is completely committed to eliminating manual labor in the states and paying a fraction of a salary here to employees in India. You are worthless in the company's eyes if you're below a VP. Raises and promotions were non-existent my last three years there. Work continues to pile up on people left behind while simultaneously not giving anything back to the employees for doing so. Officers and AVPs overseeing teams act as talking pieces for upper management and aren't going to go to bat for you. Layoffs have been rampant and the company deliberately shapes the work environment to encourage resignations so they can avoid paying severance packages. Absolutely not a place you want to be starting at new right now. Would avoid at all costs.

I have had 6 managers this year alone. At least twice because they were laid off, with our team latched onto somewhere else, only to be moved again every few months. There is absolutely no accountability for senior leadership, and it shows. We receive weekly reminders that expenses need to come down, but 98% of the company has no role in expense management. Nearly every job is being offshored so fast it's affecting the client experience, and then leadership scratches its head when the constant rework isn't resulting in lower costs. The company is shifting every cost it possibly can onto the backs of its employees (no corporate phones, no stipend for using personal phones for international calls, empty break rooms, mandatory desk sharing and work from home using your personal phones, computers and internet, no dedicated workspaces, etc.). Every administrative function is now someone's 4th job, meaning it's nearly impossible to find a pen, let alone figure out which of our two HR systems currently handles Payroll. Even the phone number you call to ask has been outsourced. Processes and technology are entirely broken. Self-built systems require 100 page instruction manuals to figure out. Every business unit is required to create its own process for key initiatives, then spend weeks arguing with other businesses about whose policy wins. Solutions are usually to add a new spreadsheet that needs to be filled out and manually aggregated because our data teams keep building databases that lack common data elements and literally can't talk to each other. But even if they did, the systems doing the "talking" are someone else's responsibility to figure out.