Thoughts? Any DST Systems layoffs? Any chatter, news or rumors?
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Dst is a marginal company who promoted marginal people into v.p. positions. Most v.p.'s were only qualified to be managers over 2 to 3 people at best, with no client facing skills. This stunted the firm's growth from 1970 onwards. And omnibus was something they never heard of. Because when sent to industry conferences, they skipped the seminars and went golfing or shopping.
I left DST in 2011 because I was sick of the climate of fear. Although I had been a sr software developer there, I entered a retraining program to learn how to support hospital software, which is a different world from any other kind of IT. KU Health System hired me in 2012 and it was the best job I ever had. When I retired from KUHS at the end of 2019 the CEO wrote me a personal letter of thanks for my contributions. I worked with 2 other DST survivors at KUHS. Yes, omnibus subaccounting destroyed DST's revenue model and the company, but we need to keep our faces looking ahead.
Glad I got out of that sh**hole in 2019. Have not looked back. Still have the occasional nightmare about that place though.
When I left DST Sys and went to another company, well I was treated better. However as far as prestige goes, i was at the bottom in my group. The HR Block, Cerner, Sprint people were perceived as more valuable. DST's poor reputation typecast me.
Dst Systems is a total failure! They were too short sighted to see Omnibus accounting! What id--ts!
Former DST executives are busy tonight unwrapping new Rolex watches and keys to Mercedes Benz SUV's in their Aspen mansions with heated driveways and 3x more bathrooms than bedrooms. And they did less work than the rank and file. Its just that the compensation committee liked them more and they went to a "special local college". Otherwise I found them to be scrooges!
Whatever its name is it is a $hit Ho-e ran by $hit Heads!
DST is like the human skeleton. It exists. But not in its original form when active. In other words its basically gone. All the code written and tested, gone! clients - will change, old ones are gone. There will be nothing to show for the millions of manhours people spent working at DST in a year or 2. People patching potholes on main street will have more to show their kids in 20 years than DST retirees. Coulda, shouda, woulda....Worldcom, Sprint, Armco Steel, Twa, Circuit City, Batchelor's III..........RIP. Merry Xmas too!
SSC Bill's Order of Operations in evaluating performance.
Stock Price -> Debt Payments -> Exec Bonuses -> Earnings -> Customers -> Private Golf Course -> Check on Multiple Houses -> Worry about Holiday Emails -> DST customers -> Employees.
Understand it.
DST "exists like Enron exists". Or like TWA exists. TWA & Enron's assets were sold, now those assets are owned by other companies. I wouldn't really call it an existance. But thats the closest you can come to saying DST is still around. If your not listed on the stock exchanges under YOUR name, you are considered to be history by the finance world! Tom who? DST who? Argus who? Gone like the buggy whip manufacturers
Legally, DST DOES NOT EXIST AS A CORPORATE ENTITY.
Bill Bob dst Gould layoffs continue
Yep - DST (we still call it DST Billy - DST it is Billy) - DST will continue to layoff for sure. SSNC stock is way down - Stoneman has to prop it up somehow. Cut cut cut.
Legally DST does not exist. When a company is sold like dst, it is merged out of existance. Yes there are deposits on file for pensions. But the company no longer exists. Think Enron, who's parts were sold to other oil companies. Yes the old Enron building and properties still exist, but they are not enron. Efron is gone.
You can call it SS&C or DST or $hit Ho-e and to make it plain as dirt the company $u-k$.
DST does not exist. Its stock no longer trades. Its pension may exist, but the company doesn't. Just like Sun Microsystems. Its gone too
DST does exist from all the wreckage they left behind in regard to profit sharing lawsuits and arbitration cases. Sad company then and sad company now.
There have been layoffs almost every year since 2008 so I would expect another layoff this year and every year after until this company no longer exists in Kansas City.
In case you have not heard, dst was sold. Dst no longer exists.