@dcsb THANK YOU!!! <3
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Eerily accurate....
this aged well. off by a few years but spot on!
I worked for BFDS and DST for a total of 29 years. I was a senior manager. DST did a good job of not having a knee jerk reaction with the stock market downturn in 2008. There were many sacrifices at the salaried positions. No raises for a couple years. The one thing however that made no sense was no raises but they kept the annual bonus program.
I must say that I had some great mentors and some people with poor leadership skills and lacking professionalism.
I learned tons about the financial services industry. I “grew up” at BFDS and DST.
I remember alot of work going to India but we took it back about 10 years ago.. ive been here 20 plus years.. layoffs happen everywhere
I left around 10 yrs ago. Was lied to all the time. We had to train kansas city via computer supposidly just so we would have them to process our work in case of a bad blizzard or snow storm. They lied to us. They took all of our work from us. People were scurrying like rats to post to other groups within the building. Me being one of them. In my new group after a while....they started talking about training India. That was it for me. Already had to train Kansas City to take my job. I was not going to be used again. I quit. Glad I did. Ran into a fellow coworker not too long ago. She told me of all of the mass layoffs. Not sure if India is processing the work but if they are they must have access to customers Social Security numbers. Maybe someone should look into this. Another country having access to social security numbers?
Makes sense... End of the quarter is tomorrow.
Tomorrow is the last day of September and nothing has happened today minus a few who already knew about it previously (HR, Legal, Finance).
No one knows anything. It's all speculation.
Any word on packages because rumor has it that they will not be giving out packages for this set of layoffs
Be advised from a trusted peer who is working behind the scenes on behalf of their direct report; layoffs are scheduled for September, November and January 2018.
Did you expect your manager to say it was true? Managers had prior knowledge which employees in their direct group were being let go in June and were in fear of losing their own jobs if information was leaked and to show no emotion (this one came easily for some of them). Don't be naïve that clients won't want work outsourced as some will for the right price. This is the time of year (Sept/Oct) when most clients that have been in negotiations are expected to sign new contracts, have you seen clients leaving? If you have this further indicates that either they don't agree with the BFDS/DST business plan going forward or BFDS couldn't commit to continuing to meet the clients expectations in the relationship.
And yet, for years, BFDS brass has been talking about how they want the work done in a "lower cost" environment. Translation: ship them jobs off to India, except for a skeleton crew in a low-wage state.
My managers say it's not true but maybe they are not in the loop. Many clients won't want their work outsourced and prefer it done on the East Coast so that big of a downsizing and a Quincy closure would probably mean relocation to another facility for those not affected. Hope it's not true
Glad I found this site. Morale has been lousy at BFDS/DST since certain people left in June. Many of us have had to take on additional tasks and several groups I work with are now underperforming internally and externally due to some of the more knowledgeable people having left and the quality has suffered noticeably. Some co-workers are feeling since it's only a matter of time between September through December when they will be part of the next "workforce reduction" they are somewhat going through the motions. Terry Metzger and Vercie Lark made a big production of having "Town Hall" meetings with employees at both BFDS/DST to insure all that there would be no changes until near the end of the year and if there was those changes would be communicated immediately. To the point when asked specifically about layoffs both replied that nothing was imminent. Then BFDS/DST proceeded to blindside 150+ employees that were let go and those of us that remain that have absolutely no trust in management beginning with group managers on up.
True