State Street to cut jobs in Luxembourg say press reports
May 8, 2019

Reports are surfacing in the Luxembourg press that State Street could be cutting 101 jobs in the Grand Duchy, with some functions being outsourced to India.

The English language Luxembourg Times reports that cuts at the company are part of a wider 2022 strategic plan focussed on digitalization and resource discipline.

The German language publication Wort adds that talks with the unions would be expected by the end of this week. 

State Street Luxembourg currently has some 800 employees. Wort notes that a further 200 people are employed at State Street's IFDS Data Services subsidiary which is not affected by the planned cuts.





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Reports are surfacing in the Luxembourg press that State Street could be cutting 101 jobs in the Grand Duchy, with some functions being outsourced to India.

The English language Luxembourg Times reports that cuts at the company are part of a wider 2022 strategic plan focussed on digitalization and resource discipline.

The German language publication Wort adds that talks with the unions would be expected by the end of this week. 

State Street Luxembourg currently has some 800 employees. Wort notes that a further 200 people are employed at State Street's IFDS Data Services subsidiary which is not affected by the planned cuts.



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