This is a generic discussion thread to capture comments about potential DST Systems Layoffs 2020? Any news or rumors?
7 replies (most recent on top)
April 2020 - heard they are getting rid of more senior execs , vp’s, and people who make over 130k
You mean it's not the greatest economy ever? With the lowest unemployment of all time? That's what folks are saying! Let's be real-the unemployment rate is low because everyone has 2 or 3 jobs in this "gig" economy. And that's what the oligarchs want.
The fact is, the economy is about to go over a cliff - its being artificially propped up and the American people are sheep, they just believe the media when they are told its the greatest economy ever. Prove me wrong, if it was so good out there there wouldn't be boards like this with whiny employees - everybody would be busy working a job they loved or at least liked.
You think you're job is bad now? Just wait, once you lose that currant job, that will be your last job for a long time until you're lucky enough to get hired at a fast food place.
Be careful what you wish for... the worst days are ahead for everyone. The next crash will make 2008 look like a hiccup.
I’ve heard rumors of January. Cutting IT and health services.
Yep 125MthXy-hhi, wish I could say I feel bad, but I don't. Serves them right for being greedy. Unfortunately, it's the hard working DST folks who will pay.
From Q3 earnings call:
Well, I think the organic growth going down slightly sequentially is really mostly due to the DST business when you compare it to Q4 2018, when that had a fairly strong quarter at $564 million in revenue. Overall, if you look at what we would call our core business, which is the – our alternatives and software business, excluding DST, Intralinks and Eze, the acquisitions we did in 2018, our core business continues to perform really well. In fact, in Q3, I think our core business was up organically about 5.4%, and then we expect it to accelerate a little bit to a little over 6% in Q4. So our core business is doing really well, and we're getting a little bit of drag on DST but working hard to turn that business around and sign some new deals with clients.
DST is the problem child, the entire call Q&A is Stone and team answering questions about why DST is dragging them down and when/how's it going to turn around. The answers are getting very stale, it was only supposed to take a year!
Hey python, how's that Zebra you swallowed?
Python: oh we're getting there (glug)
The threat is very real. The company is adamant about the profit margin. Either make the expected amount or they'll cut expenses (including staff) to get there. Also factor in the number of customers leaving - they're going to have some serious headwind in 2020 and on.
Time to be looking is now.