Is DST still relying strictly on cuts to boost up profitability? It didn't work while I was there and I seriously doubt that it works now, but I wouldn't be surprised if they're stubbornly sticking to it. DST never had a good leadership team that would know how to make actual changes to improve long-term results and that's been sinking the company for years.
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Dst hires abusive and slightly crazy managers. I am sure some business schools will mention Dst as a example of failure. A great boss will shield his staff from stress, abuse, and worries. That never happens at Dst. At Dst, managers act like toddlers thinking they can get more productivity from staff by throwing tantrums. I felt sorry for my manager, he was clueless and BLIND AS A BAT.
DST "leadership" was so clueless about the mutual fund industry they didnt see the Omnibus accounting issue. I think that is what its called. Its where an entire security issue, and entire mutual fund can be processed as 1 account, not as many individual shareholder accounts. Thus charging fees for each shareholder account was no longer possible. HOW COULD TOM HAVE MISSED IT???????
If you didnt notice, the top management at DST and some of its long time directors gave up on DST and are now a part of Euronet (ticker EEFT) based in Leawood. The founder Mike Brown went to Rockhurst University, he also founded Innovative Software. DST's yop brass are no longer interested in DST. They are all in on EEFT.
Well it is SS&C now, and their leadership is just as inept and incompetent as DST was. They have cut staff everywhere, angered customers to the point of leaving countless times all to see their customer base dwindle. They aren't selling anything, they have antiquated technology that hobbles them. They have not kept up with salary and compensation trends offshore and have lost a large percentage of their offshore teams. The same is happening onshore. They are incapable of hiring due to same. Not that they want to add head count anyway.
Funny thing is the people with the talent to do the things they want demand top dollar and real RSUs (not SS&C cr---y stock options), which they'll never pay.
This company has been on a long, painful journey with no end in sight. They can surely keep this ticking over for years to come. But the stock price is great, supported by relief money and buybacks so, they've got that going for them at least.