Hey if you are a current employee and committed to continuing the turn around of this great company raise your hand in this post and let your voice be heard. Lets drown all the negative negative rhetoric with a show of hands and positive commentary for our commitment to the continued turn around.
18 replies (most recent on top)
Let me guess - andy stern or one of his cronies told you that. Don’t be such a s---er
I am hearing of much success in parts of our Sales organization. I hear of new logos and some big deals from numerous groups with in N.A. Sales team. Its great to hear of this happening, the timing is ever so critical.
I can tell you as an employee that it's only been 1 wk since this announcement and morale has sunk to an all time low. Folks are clocking out early and taking time off arbitrarily. If you're the committed type, you're likely picking up for the ppl clocking out and looking for a new gig. Anything urgent is handled in a policy manner - meaning 'it's not my department' and they point the work to someone else.
I'm considering simply quitting because if you're part of the few people who 'still believe', you're going to be worked into the ground.
There is a lot of people who've already quit - not officially - I mean they are still on the payroll, but they simply don't care.
Sorry I say no! Watching all my American friends gone so SunGardas can hire from other countries. Screw them if you think for one minute this will end well you my friend are fooling yourself. It's not you.....you can work as hard as you can but it won't matter. New owners don't want anything more then sale of data centers, don't take my word for it. You will see soon.
HAPPY TALK FOR EVERYONE! wrote:
I was 150% totally committed to building SunGard and working toward its success - 50-60 hrs a week plus a ton of travel. Totally committed right up to when they laid me off. I was told I wasn't tough enough.
Yeah, a lot of good committed people get laid off. The only sick time I take is when I'm bedridden. Many days I work 12 hours. There's very little time for a social life. But I have no expectation that it would ever be considered when cuts are made. Although hearing that you were told you were not tough enough is pretty harsh. I suspect these folks that are so gung ho are on the fringes of operations. If you see what's really happening, it's by no means encouraging.
I'm sure AWS and Azure and going to want to hitch their brands to a company that declares bankruptcy, admits it failed to see the largest trend in IT in 50 years, is run by Vulture capitalists that are going to gut the place, and has a workforce that are all looking for jobs, me included. Let's be real people, watch the eyes of the spin doctors who are feeding us these lines everyday, not one of them have maintained eye contact with me as they spout this BS.
I was 150% totally committed to building SunGard and working toward its success - 50-60 hrs a week plus a ton of travel. Totally committed right up to when they laid me off. I was told I wasn't tough enough.
Happy talk isn't going to help a company with awful direction. And if "positive commentary" is what you are looking for, a site literally called "The Layoff" probably isn't the right place.
Wow... Alex Jones and now giggles.... oh my, where to start...
Sgas unique market position is our people, process and tooling are 20 years out of date according to stern
Why hasn’t sgas been able to gain/maintain market share in a market that is growing faster than in .com era?
Sgas ceo has stated that he was too slow to react to changing market... why do we now think that leadership has the correct vision....?
Your comments around operations and sales are too nonsensical to even comment on....
I’m sure that when companies like Polaroid, blockbuster, toys are us; or after the titanic hit the iceberg we’re in their death rattle there was someone like you shouting “all is fine”.... but, they all died anyways... oh, that’s right yahoo was sold for penny’s on the dollar even though they were “pioneers” in internet search....
Unfortunately, ~3000 employees are going to have a very negative outcome because of a very small handful of Sr executives making poor decisions and then doubling down and making things worse.
Old SunGard yes an sp500 American company....now no way your foolling yourself. You may have the drive but new owners do not. Does anyone realize what really is going on???? Again we were Not bought to grow the business we were bought to turn a fast profit.. outsourcing killed us. End of F...ing story
How will we see our way through this you ask?
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Lets first start with agreeing that we have a unique position in a market that is growing like nothing since the .com boom.
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Second lets agree that we will fill a niche that the largest provider in this market must satisfy if its going to increase market share against its largest competitor.
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Lets then agree that we must get our operations and product inline to deliver against filling this niche.
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Lastly we must transform our sales force to sell in the manner today's buyers buy.
The ability to mange production workloads and provide availability through the context of resilience in a hybrid environment is very unique... and will become the standard in tomorrows market place if we can truly deliver in an "on Demand" / "As needed" model as we intend to.
That's how we get there!!!
It appears Alex Jones has joined this discussion.
Nothing to see here, move along...
The entire USA economy is a lie built on funny/blood money (whatever you want to call it).
Sungard AS is a faint blip on the radar in the grand scheme of these financial “games” that the USA economy is based.
The folks at Moody’s are nothing more than professional spin doctors for Wall Street.
Wall Street is nothing more than legalized gambling. It’s all one big fat Ponzi scheme.
USA government is $22 TRILLION in debt to their “god” the fiat “petrodollar. Think about that...
The American Dream today is about people living fake lives with their fake material wealth (surely without spiritual wealth) worshiping their fake “god” and somehow feeling secure???
It’s a bizarre age we live in and the end result will be epically catastrophic especially for future generations.
FACTS!!! WAKE UP...
New York, April 02, 2019 -- Moody's Investors Service ("Moody's") downgraded Sungard Availability Services Capital Inc.'s ("Sungard AS") corporate family and probability of default ratings ("CFR" and "PDR", respectively) to Ca and Ca-PD from Caa1 and Caa1-PD, respectively. In addition, Moody's downgraded the senior secured debt ratings to Caa3 from B3 and the unsecured bond rating to C from Caa3. The rating outlook remains negative.
RATINGS RATIONALE
The downgrade follows today's announcement that Sungard AS plans to file for voluntary Chapter 11 bankruptcy in the U.S. no later than May 1, 2019 and will not pay the interest due on April 1 for either the secured term loans or the $425 million senior unsecured notes due April 2022 ("unsecured bond").
The non-payment of interest on the term loans within five business days after the interest is due (the grace period under the senior secured credit agreement) would constitute a limited default under Moody's definition. There is a 30 day grace period for the interest payment on the unsecured bond in accordance with the indenture.
The Ca CFR reflects Moody's expectation that negative bookings trends will lead to a significant decline in revenue and profitability in 2019. The erosion of Sungard AS' core recovery business has driven total company revenue and profit declines over the past decade. While Sungard AS has reduced the capital intensity of the business and engaged in various restructuring initiatives to lower costs, the company has yet to show the ability to generate meaningful FCF (e.g., negative annual free cash flow of more than $25 million in both 2018 and 2017, respectively).
The transformation of Sungard AS' business model will continue to be challenged by the run off of the traditional data recovery business and pressures on co-location pricing. While managed services and cloud hosting offer solid long-term growth prospects, Sungard AS faces substantial competition and ongoing technological shifts to leaner information technology (IT) models.
Although Sungard AS has demonstrated the ability to sell assets to raise funds, the timing and proceeds of further asset sales is uncertain. In 2018 and 2019, Sungard AS divested 3 facilities (San Ramon, Sweden, and Wood Dale, Illinois) and the Assurance software business for gross proceeds of about $140 million (net cash proceeds over $125 million). In addition, the company sold 8 data centers in May 2015 for gross proceeds of $140 million.
The negative outlook reflects a high probability of default in the near term. It also incorporates the risk that Sungard AS may not be able to slow or stabilize unfavorable operating trends, including declining revenue and profitability and sustained negative free cash flow.
Sungard AS' probability of default rating will be revised to a D if the company files for bankruptcy proceedings. The ratings are unlikely to be upgraded in the near term given the company's announced plan to file for voluntary Chapter 11 bankruptcy.
Downgrades:
..Issuer: Sungard Availability Services Capital Inc.
.... Probability of Default Rating, Downgraded to Ca-PD from Caa1-PD
.... Corporate Family Rating, Downgraded to Ca from Caa1
....Senior Secured Bank Credit Facility, Downgraded to Caa3 (LGD3) from B3 (LGD3)
....Senior Unsecured Regular Bond/Debenture, Downgraded to C (LGD5) from Caa3 (LGD5)
Outlook Actions:
..Issuer: Sungard Availability Services Capital Inc.
....Outlook, Remains Negative
The principal methodology used in these ratings was Business and Consumer Service Industry published in October 2016. Please see the Rating Methodologies page on www.moodys.com for a copy of this methodology.
Sungard Availability Services Capital Inc. is a provider of disaster recovery services and managed IT services and is owned by a consortium of private equity investors (including Bain Capital Partners, The Blackstone Group, Kohlberg Kravis Roberts & Co., Silver Lake, TPG, and Providence Equity Partners).
If you are a current employee, go with your gut. It will serve well.
Some people like to keep a positive attitude whatever the circumstance is. If you are that miserable with what is happening, move on. If you are an ex-employee that can’t quite help chiming in....get a life.
Dear God...what loon posted the "Are you Committed to turning this place around?" The writing is on the wall and yet some people can not see it!!!
But howwwwwwwww? What is coming down the pipeline to make this a success?
Yes. Totally in. Great market, strong value prop, the time is now.