State Street to lay off 600

Also, reporting that at the same time, they'll hiring about 100 in Boston.

So, the way I read that is they're using this as an excuse to broom out any nominally compensated local employees, so they can not only reduce head count but replace them with... (Wait for it...)

Yes, the best and the brightest! The STEM workers that America just can't produce. Who also happen to work for less that half of what you and I may expect. With 20 uncomped hours a week thrown in. And who's visa status is dependent on the whim of their employer.

Where exactly are all these poorly performing major markets outside the US? In case you haven't noticed - most international markets are doing fine to extremely well - unless you adjust for currency (and surprisingly - that includes Shanghai which is almost 40% off its high - but still over 50% above where it was a couple years ago). Worst performing major international market is probably UK - which is about flat over the last few years if you exclude dividends which gives you a slightly positive return if included.

Unless of course you are referring to the bond market or alts - which are somewhat different discussions (and probably the real reason many of the investment companies are struggling).

Any more questions?

But only in a Jordan Marsh bought tie.