State Street Corp. said it plans to cut 1,600 to 1,800 positions, about 6 percent of its workforce, through the first quarter of 2009 to reduce costs, the latest Boston financial firm to shed jobs in the wake of steep market declines.
State Street employed 28,900 people worldwide, as of October, with about 13,900 in Massachusetts.
The reductions will mainly occur among middle and senior managers, the company said in a statement, as opposed to eliminating customer service-related positions. About two-thirds of the eliminated jobs will be in North America, with the rest in Europe and Asia, the company said. It did not immediately provide more details about the cuts.
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