State Street Laying Off 145 Employees in Massachusetts
State Street Corporation plans to lay off 400 employees, 145 of whom work in Massachusetts, the company announced Friday.
The Boston-based financial firm employs more than 29,000 people, including 12,000 in Massachusetts, according to the Boston Business Journal.
The Boston Business Journal reports:
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“We are responding to the challenges presented by low interest rates and conservative investor risk appetite by realigning our staffing to support our goal of positive operating leverage for the full year,’’ Joseph L. Hooley, State Street’s chairman, president and chief executive officer, said in a public statement.
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