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State Street Corporation Cuts Work-Force 03:56
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Lines, like this one last year, at job fairs may get longer after State Street Corp. lay-off of 558 employees in Massachusetts. (AP)
Lines, like this one last year, at job fairs may get longer after State Street Corp. lay-off of 558 employees in Massachusetts. (AP)

Boston-based State Street Corporation on Tuesday said it is laying off or outsourcing 850 technology jobs, including 550 employees right here in Massachusetts.

The job cuts are part of a larger restructuring at the Boston investment bank. These cuts were announced on the same day that State Street Corp. announced a strong earnings report.

WBUR's business and technology reporter, Curt Nickisch gives us the details.

Guest:

  • Curt Nickisch, business and technology reporter, WBUR

This segment aired on July 19, 2011.

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