More to come in 2019/2020
46 replies (most recent on top)
Yep it’s real. It’s going to be at least a year of restructuring. Ss&c will ask for more cuts. If dst management doesn’t cut enough they will be cut. If depts resist they will be cut.
Who the hell thought layoffs weren't coming??
Some of you people who thought that layoffs weren't going to happen, better open your eyes and ears and watch what is going on around you. It is just getting started. The company that paid for DST are not going to allow their people and DST employees to do the exact same work and pay them both for it. Wake up!! More are coming!!!
Saw several elevators full of people, at least 8 coming down from the 7th floor in centennial bldg in KC today where they have conference rooms. Hoping those weren't temp people they brought on to do this. Was very odd as they kept coming and coming down. Have never seen anything like that while there except for our own town halls. They don't usually have that many people there for meetings.
Which bu are you with?
just got off a call. they are happening tomorrow 6/1
If your formula is correct, that would be the majority of the former BFDS employees.
There will not be voluntary layoffs.
And when is notification of this suppose to happen?
Bad Wolf, The rumor is actually that if age + years of service = 70 you can do voluntary layoff if you choose to do so, not that you’re automatically put on the list.
I hope the last statement is true, I’m read, lay me off.
Rumor today: if your # years of service plus your age is 70 or more you are on the layoff list! Legal?
You know the scene in JAWS: “ goooddd byyeeee to you my fair Spanish Ladiesssssss”
We can only hope they sell it.
Or, they sell it off
SS&C has no mainframe Cobol programmers. They can't support DST Pharmacy Solutions without that staff.
NO
So "awesome" when you attend an IT company's town hall meeting via webex and the audio doesn't work....
Curious to see what MM says in the townhall meeting today...
It's a joke..... geeshhh whose the one overthinking. :p
Geeezz 5ivr, are you stoned with your Matrix stuff? Lol. Stop overthinking. It’s a job. Really, just a job. It’s been a good one for many of us for a long time. But it is just a job. 10% of us will be let go next month. And we will all live. And all of us will be Okay. Even better in many cases. And all of us will be able to stop worrying and letting this job control our lives. Good luck to all !
To quote another famous movie:
"After this, there is no turning back. You take the blue pill—the story ends, you wake up in your bed and believe whatever you want to believe. You take the red pill—you stay in Wonderland, and I show you how deep the rabbit hole goes. Remember: all I'm offering is the truth."
Guess since we stayed to this point we were all crazy enough to have taken the red pill...... :)
What a blessing to not have cell phones and pagers. Sorry for those approved to have them. But I personally am tired of 24/7. Things are looking up. I understand layoffs. It is the lifecycle. But Dst is the glue. Heads up and smile. If I’m chosen, I will remember everyone who touched me during my tenure.
A; I like the saying from earlier poster "it is what it is." Guys, we are the GLUE, remember that.
B; If you host a lot of meetings they'll need to keep you because running a committee is important.
3; How blessed are we to get more holidays- start being more optimistic, people!
Ss&c actually takes off those holidays that Dst took away. That’s a great thing.
I hope our benefits will be better with ss&c
No more work cell phones or pagers allowed anymore..... only "select few" maybe approved to have them....
@TeJbnNb-1mxn...spoken like a true idiot. If all else fails resort to physical threats....grow up already...
SS&C purchased DST in an all cash deal.
Do the math.
Relax. Very few layoffs. If any, they will be at the very top. They're not getting rid of the worker bees.
If you're a long time employee, say over 20 years, I might be nervous. People who never change jobs tend to be let go. Never changing your job is a red flag that you are not good at change. Companies are always changing and tend to promote and reward employees who do change.
It is what it is.
It seems to me that SS&C has already given us some indicators of what will happen. Go to their website and ready the press release regarding the acquisition.
- SS&C expects $150 million of run-rate cost savings annually, achieved BY 2020.
How do you think they intend to get $150 million in run rate savings BY 2020 if they don't reduce staff and make some significant cuts in 2018 and 2019?
- SS&C plans to fund the acquisition and refinance existing debt with a combination of debt and equity.
So...it seems they were planning to fund the purchase with a combination of debt and equity, if that's what they did then they'll have debt that needs to be paid.
I am pretty sure "big things" like this can happen quickly, haven't they in the past? You don't have to look too far back in time to see that DST has also reduced staff in companies they've acquired within the first year (or less). Unfortunately, they fact that "they" don't really know what most departments do is irrelevant, as they now have DST management to educate them.
I don't know what is going to happen, but indicators seem to be pointing in the direction of some fairly significant restructuring.
Layoffs happened last year beginning on Wednesday, June 21st and June 20th is on a Wednesday. Though I would think management should have learned a lesson last year letting people go right before second quarter and the chaos that followed.
My guess is that OP is doing this because they'd like to give people a heads-up, so that the folks who want to be able to compete for a job still have a chance to find one before 1200 people hit the job market in KC.
Oh, I’m in for an unpleasant surprise? Really? Is that some type of threat? You want to dance we can dance then.
If you are so sure of yourself then why do you "waste" time coming on here then? Sounds like a hypocrite to me....stop coming on here then....no ones forcing you...
You people are so stupid. They bought dst in a cash deal. That is a strong signal of fiscal health. Ffs they don't even know what most of the departments do, they are not laying anyone off untill at least two years. Sure, some reorgs will happen, that's a good thing, it means they're shuffling the talent around, new jobs will be created and filled by existing employees.
Try to see the positive for a change.
Worst case all of the above..
What does reorg mean to employees? Will jobs be rebranded, lost? What does this really mean?
Reorg is happening in a couple of weeks if not next week.
You all are a bunch of dumb--ses for doubting.......this is going to happen at some point here whether in June, July, whenever...numbers may be high but they will be reorganizing and sh-- like this usually happens with major reorgs...