State Street Corporation is cutting 1,500 jobs by the end of this month
The financial services company said the layoffs will amount to more than 3% of its global payroll, which is currently about 42,000 workers. State Street has about 8,000 employees in Massachusetts. It is not yet clear how many of those jobs will be cut. The job cuts will be the largest at State Street since 2021 when 12,000 mostly middle-management workers were let go. State Street recently relocated its headquarters to the new 43-story One Congress office tower. State Street is the second-oldest continually operating United States bank; its predecessor, Union Bank, was founded in 1792.