Based on news reporting.
State Street Corporation has reported job cuts amounting to $111 million as part of its efforts to implement a blockchain infrastructure platform. While the article does not specify the exact number of employees affected, it highlights the financial impact of these layoffs on the company's operations. The decision aligns with the company's strategic shift towards modernizing its technology framework. The layoffs are part of a broader trend in the financial services sector as firms adapt to new technologies and market demands. No specific location or department was mentioned regarding the layoffs.
State Street Corporation cut 900 jobs as of October 1, 2023.
That is roughly 1.7% of the 53,000 people State Street Corporation employs.
LayoffTalk has tracked 3 layoff events at State Street Corporation since September 2023, affecting a combined 2,300 employees.
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