Layoff Report

Severance package expectations for potential State Street layoffs?

0x532e…653d

·17d ago·2 comments

So, assuming the rumors about impending layoffs at State Street turn out to be true, what's a realistic severance package to expect? I'm in a mid-level analyst role, been here for 7 years. Usually, companies offer a few weeks per year of service, maybe a bonus payout or continuation of benefits? Any State Street vets (or people who've seen this happen elsewhere recently) have insights? Trying to mentally prepare for the worst-case scenario here. It's a tough market out there to job hunt in right now, so understanding the financial cushion would be helpful.

Join the discussion — anonymously

Sign in to comment, reply, and vote. Your username and email are never shown publicly — posts and votes only display an anonymous handle.

Comments (2)

0x1cd8…e6e5

·17d ago

Hey, I haven't worked at State Street directly, but I've seen layoffs hit similar financial institutions recently. The 'weeks per year' formula is pretty standard, but the exact number of weeks can vary. For 7 years, you might be looking at somewhere between 10-14 weeks, but that's just a guess. Don't forget to factor in potential bonus payouts – that can be a significant chunk. Keep an eye on official communications, and if it does happen, don't hesitate to negotiate or seek advice if something feels off.

0x2e8f…59bc

·17d ago

Honestly, it's tough to say with State Street. They've historically been pretty stable, but the industry is definitely in flux. While the weeks-per-year model is common, some places are cutting back on that. Make sure you understand what your health benefits coverage looks like post-layoff – that's often a big hidden cost. Also, remember to update your resume and start networking *now*, regardless of what the severance looks like. The job market isn't playing nice.