Gotten worse - Recensione dipendente - Officer presso State Street

Focus by management is solely on cutting costs. Offshore work to India is the main focus nowadays. New technologies/platforms are available and used, but not being used anywhere near where the potential could be. Little promotion opportunity exists in many departments unless you are friends with a VP or higher. When someone leaves a department, that position is almost always automatically offshored. The remaining people are then left with the work, as it takes a long time (if at all) for the position in India to be filled and the person to come up to speed. Because of this, many remaining people are actively seeking employment elsewhere. There is a lot of unhappiness due to high hours worked, even in the face of the executives saying otherwise. There is so much focus on other things than streamlining processes and making things more efficient. The mantra of "this is the way it's always been done" is still VERY strong at State Street. Many people are scared of the 'tap' on the shoulder saying that it's time for your layoff papers. The HR hiring department locally was outsourced to India recently and people again laid off. This is a constant fear of all workers locally. Turnover in some areas is at a record high, balanced by morale which is at a record low.