State Street layoffs loom as Boston firm targets $1 billion in benefits from AI, reorg
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The State Street logo rises above One Congress in the new company headquarters. State Street Corp. unveiled a plan Thursday to implement artificial intelligence and streamline its business operations in an effort to boost profit and simplify operations. The Boston-based financial giant is looking to increase its pre-tax margin from 31% now to 35% in the medium term, and has three pillars to hit that point. The transformation project has been dubbed by the bank as "One State Street." Stream NBC10 Boston news for free, 24/7, wherever you are. More on this story from Boston Business Journal
