State Street to lay off 1,500 in turn toward automation

State Street Corp. plans to lay off approximately 1,500 employees in “high-cost locations” and ramp up efforts to automate its services to clients, the company said Friday.

State Street has 1,220 full-time-equivalent employees in the Kansas City area, ranking it No. 33 on the Business Journal’s list of private-sector employers.

The newly announced layoffs go far beyond the job cuts to senior management reported by the Boston Business Journal earlier this month. The senior managers are believed…

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