State Street to cut positions 01 December 2010Boston Reporter: Ben Wilkie
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State Street has announced a cost cutting plans that will see 1,400 jobs lost across the group.
The cuts, which represent about five per cent of the company's workforce, will begin this month and continue into 2011.
“This sense of urgency has never been more critical as the aftermath of the recent financial crisis presents a unique window of opportunity for innovation and leadership,’’ said Jay Hooley in an email to employees. “It’s important that we seize this opportunity ahead of our competitors.’’
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