On the Mend and On the Move: State Street to cut 4.5% of Massachusetts Workforce

Massachusetts is on the mend and on the move – Deval Patrick

In yet another stunning example of the anti-growth agenda of the Patrick Administration, State Street has announced the layoffs of 558 Bay State Employees.  Boston.com has the story.

In a press release, State Street said about 530 information-technology employees will be provided with severance and outplacement services as their roles are eliminated over the course of the next 18 to 20 months; 338 of those positions are in Massachusetts.

Another 320 IT employees will transition to IBM or Wipro Technologies, two companies that provide State Street with outsourcing services; 220 of those positions are in Massachusetts.

As of today, the company’s Bay State head count is roughly 12,600. Worldwide, the company employs 29,450 people

Yet another stellar example of a business “Making it in Massachusetts.”  

About Rob "EaBo Clipper" Eno