If one bankruptcy wasn’t enough, now the EMEA businesses are in administration, Canada ops are bankrupt and the US is bankrupt.
Gee, who might have guessed this turn of events? Blame it on Covid? Really? Customers must be loving that line.
Maybe the 4th string management will be able to fix it… or not…
So glad that I left when I did. There Is a wonderful job market out here, jump in, the water is hot. There isn’t a retainer package big enough to stay there.
@4mnr+1gcePPHY - 'new projects in the pipeline' more like 'pipedream'!
"We’re the pioneers in DR."
Once upon a time, that meant something.
@enx+1gcePPHY said “All the naysayers need to relax, take a breath, and look for Sungard to be around for many years to come....Now I'm off to interview a job candidate. We're still hiring!”
Wow, this is awesome news. Thanks for sharing it. I knew it, I knew things would start picking up. My manager said the same thing about hiring, that backfills are needed because of new projects in the pipeline. No way, no way is Sungard AS done. We’re the pioneers in DR.
The company still has about $400m of debt after the bankruptcy in 2019. It’s a way for the company to pay Pennie’s on the dollar for bad debt.
It's called crony Capitalism.
It's definitely a crime what executives and politicians have been getting away with for decades. Trillion$$ is the new Billions$$ thanks to their greed and look at what it is costing us all...
I had the time to read more about it this chapter 11 shenanigans....i don't buy it ...Somehow they managed to rack up £400 million of new debt since the last time they went chapter 11 in 2018 Something is not right unless they on the fiddle meaning the LT team must be accountable or even going to prison for some of this bad accounting.
Yeah, but those three remaining K-Marts still sell relevant, fully-featured products which are generally suited for their purpose and reasonably priced. AND if you ask for help, it can be had within minutes, and chances are you'll be able to understand the person helping you just fine. :-)
No doubt Sungard will still be around for a while. K-Mart is still hanging in there, why not Sungard AS
Lets have a data center DEADPOOL
Which ones will close.
Bagdad Bob weighs in
Correction… the attorneys and consultants don’t get sc~~wed.
They get the rest of the cash.
Lol. In a bankruptcy, everyone gets sc~~wed while management has a big ole love fest.
Look it's a bird, it's a plane, it's OPG 2.0
It's all about priorities.
Do you sc--w your landlords and vendors?
Or do you sc--w your customers and employees?
Thank goodness option 2 was selected. My paycheck is secure. And we can continue to offer premiere DR services to our clients.
Sungard AS is a survivor! Yes, many battle scars, but we are still standing! If you are searching for a DR provider, would you not want a proven survivor?
It's easy for corporations to reshuffle their finances in the day and age to the tune of billions of dollars. No biggie.
All the naysayers need to relax, take a breath, and look for Sungard to be around for many years to come.
Now I'm off to interview a job candidate. We're still hiring!