During the interview process, I was concerned about the news, but everyone continued to explain how the restructuring will help the company. I decided to take the job; however, I am not seeing a lot of positive outlook in regards to the restructuring. Any thoughts as to why they are hiring/should I consider looking for more options? It was a great offer and I really did enjoy the team I would be working with
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@YBQ6rBu-1yws That’s true. It’s hard to know what is happening since there’s a lot of negativity here and I just wanted an answer to see if I will have this position I currently accepted for at least 2 years minimum. Consulting is a great career and if Sungard does emerge from this, the benefits would be incredible. That’s where my logic sits in. Help rebuild the company and reap the benefits
@YBQ6rBu-1lvk - I couldn't tell you that. I think what happens in May remains to be seen.
@YBQ6rBu-1xcq That’s great to hear. Innovation is what I’m looking for and if sungard is willing to move into the cloud space I’m all for it. Do you know how much the consultant side has been damaged from this?
I was hired back in 2014. There have been some ups and downs but I'd say, depending on the position, there are some real upsides. From a market standpoint, SunGard is facing the challenge of changing its legacy reputation as a DR provider to a full fledged cloud service provider.
In my time at SunGard, I've seen a contest of strengths between retaining current customers on legacy technologies to maintain existing revenue streams versus full fledged commitment to growing a new customer base who wants the latest cloud benefits.
Despite the naysayer's on this board, SunGard does have a position in the cloud space. 2018 was very grim but there has been a turn recent around. There have been recent signings that indicate to me that SunGard has a very real place in the cloud space.
If you're in the position to move SunGard into the cloud space, then welcome aboard.
So using the logic below, the main reason profits and sales have fallen, customers have left in droves, 90% of US/UK/Canadian jobs have been move to India and Costa Rica, the company hasn't had a real product offering is that the company was just "full of debt". So literally overnight (ok 2 overnights) the company will emerge with $900M less debt, a fabulous new product offering, customers will stop panicking and leaving, and jobs will come streaming back to NA and UK and layoffs will be a thing of the past. That's total BS. Read Stern's comments in the Philly Inquirer and think. Look at Stern's history of bankruptcy with USInternetworking and think. Look up Venture Capitalist and understand what they do and how they think. VCs don't build businesses, especially failed ones. VCs don't take over a company to make the a wild success. To the poster below stop spouting off the BS that the LT is feeding everyone and think. Millions of dollars make people do and say strange things. Power corrupts. Think for yourself.
The end result of the chapter 11 filing is that roughly 2/3 of SunGard's debt will be relieved.
Without that debt burden things are looking up.
SunGard's new owners understand that SunGard's value lies in the services that SunGard offers as opposed to the companies raw assets, so I don't think the chapter 11 settlement is going to be the 'fire sale' that everyone's suggesting on this board.
You're just seeing the panic of a few people.
They are also still hiring since the people that engineered this bankruptcy are obligated to hand over what appears to be a whole company to our creditors/soon to he owners. No offense to you but they are just hiring bodies at this point to replace those that were resigning in droves before the bankruptcy and those that will be leaving in even greater numbers now due to Chapter 11 announcement
Why would you take a job with a company after learning "during the interview process" that it was about to file Chapter 11? And to answer your question why we are still hiring despite the bankruptcy, it is because the people running this place including human resources don't care about people.
Keep looking
Go back and read the string over the past year... it’s a pretty good summary of where sgas is at....
Why would I be trolling. Just want a honest answer. Will this chapter 11 have a future, or will it turn into a chapter 7 pretty soon? I just worry about my future career.