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State Street Advisors Announces it is Laying off 1,500 Employees

On January 17, 2018 State Street Advisors announced the intention to reduce its work force by 1,500 employees, including 15% of senior management positions. This layoff may affect many veteran employees, impacting complicated compensation packages involving deferred compensation, equity awards, and bonuses in addition to base pay.

Lax & Neville has extensive experience negotiating severance packages on behalf of financial services executives. Lax & Neville can help ensure executives are protected when they transition to a new firm and provide input on draft U4 and/or U5 language to make it more favorable for the departing individual.

Lax & Neville can also assist departing employees in navigating restrictive covenants within their former firm’s employment agreements and negotiate contract language and compensation in new firm agreements.

The attorneys at Lax & Neville LLP have extensive experience in negotiating broker transitions, overseeing the complex process of meeting compliance requirements from both Protocol and non-Protocol firms, and representing brokers in all manner of regulatory matters. If you are considering transitioning, setting up a Registered Investment Advisory, or have employment disputes in the securities industry please contact Lax & Neville today at (212) 696-1999 to schedule a consultation.

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