Amid executive leadership changes, Boston-based State Street Corp. is cutting 1,500 of its employees across the company.
Eric Aboaf, chief financial officer and vice chairman, announced the layoffs at the Goldman Sachs US Financial Services Conference on Dec. 6.
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The layoffs will cost the company between $175 to $200 million in the final quarter of the year.
The company has approximately 42,000 employees globally as of Sept. 30, and has about 7,500 Boston employees as of 2022, ranking sixth in the city for Boston employment, according to the City of Boston. The company did not specify how many roles in Massachusetts would be affected.
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