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Rating:State Street Trims Sails ... Again Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, October 2, 2002

State Street Trims Sails ... Again

by: Sean Hanna, Editor in Chief

Employees of State Street have just gone through a third round of job cuts. This time those let go totaled 75, including workers in the marketing, legal, and facilities departments, reports today's Boston Globe.

So far this year the Boston-based firm has axed 500 of its 20,000 strong workforce. Another 500 employees are expected to separate from State Street when US Bancorp's acquisition of its corporate trust business is completed later this year.

State Street officials are not ruling out further job cuts as time goes on. They add, though, that workers may be added to business units that are growing.  

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