State Street Corporation Cuts Work-Force

03:56

July 19, 2011

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.