Thread regarding Boston Financial Data Services layoffs

b---s--- "it's business" that's a Sh--ty copout excuse to treat the people who built the company like sh-- and nobody has to be accountable. That mentality will eventually bite dst (and now ss&c) in the a--.

In the know here....This VP positions you see have nothing to do with the dying T/A Business. DST has other businesses that have openings. DST has 15k or so employees world wide. The T/A is dying. The reason DST bought out State Street was

to combine to increase scale and reduce expenses so to survive a bit more. Keep crying but get out if you can or your day will come. As for the BC Grad who didn’t see it coming....Hope you get a tuition refund not many from BC would be at BFDS earning below market wages.

"Degree from BC and didn't see this coming" too funny. Then you better get your money back from Catholick U. Lmao

Window lickers straight out of HS? Could you be any more of a pompous a--*ole? I have a degree from BC and I didn't see this coming...

Trying to make sense of it all. Dust off your resumes people. At the end of the day, who among the scant survivors will want to work under the deceitful practices of DST? The ongoing associate manipulation unfolding during the "transition" is telling... parent cannibalizes child. Congrats to State Street juggernaut for smartly dumping your TA baby. It's only business, man.

Really? Not looking to hire another VP?? In the know should pay a bit more attention..check this out from the Glass Door https://www.glassdoor.com/Job/denver-co-vice-president-financial-reporting-jobs-SRCH_IL.0,9_IC1148170_KO10,44.htm?src=GD_JOB_AD&t=EMPLOYER_SEARCH_RESULTS&ao=55774&s=21&rdserp=true&srs=EI_JOBS&jl=2545051532

VP Financial reporting posted 12 days ago

Or how about a National Relationship Executive posted again 12 days ago

https://www.glassdoor.com/Job/united-states-national-relationship-executive-jobs-SRCH_IL.0,13_IN1_KO14,45.htm?src=GD_JOB_AD&t=EMPLOYER_SEARCH_RESULTS&ao=55774&s=21&rdserp=true&srs=EI_JOBS&jl=2545052019

How about a new director posted again 12 days ago

https://www.glassdoor.com/Job/kansas-city-mo-pricing-director-jobs-SRCH_IL.0,14_IC1131040_KO15,31.htm?src=GD_JOB_AD&t=EMPLOYER_SEARCH_RESULTS&ao=55774&s=21&rdserp=true&srs=EI_JOBS&jl=2545051620

Some of the people on here are stupid....Saying things like “technology passed us by”. The business is dying. No one buys mutual funds directly anymore. In fact more money goes to ETFs. The T/A Business is dying. That’s what is going on. 1/2 the people at BF are window lickers that have come right from HS. Blame management all you want. The reality is in 18-24 months Quincy will be down to 200 people so stop complaining and get out. BF has been a great company for a long time, but times they are a changing. As for the other stupid comment about more VPs coming on.....I assure you, that isn’t happening.

Very true and sad. I knew a lot of really great people there who knew the business and the job but had work for an incompetent. Common theme unfortunately. Three years into the job and still thinks AWD stands for all wheel drive.

Mrs. T has competition as another Quincy group manager has purposely lied in conference calls to BFDS project leads and at least two clients by blaming errors they made on someone who was let go in June. Those of us that know this as fact have no where to turn without jeopardizing ourselves, but it is disgusting to sully someone who can't defend themselves.

Yes unfortunately its the rank and file that pay for the 'In the know' folks F Ups...

One manager got a wake up call and opted not to take their typical two hour lunch break today and tried to get involved in the workflow only to confirm their ignorance.

Biggest issue to me is upper mgmt sat on their hands the past 10 yrs at least and the technology blew past them...they're running up hill now.

Waiting for the next VP/Director to be hired - what do you think? Week of 10/9? I can see it now "We'd like to welcome.....to DST...Mr So and so comes to us from..."

You’re crazy. Transfer agents will continue to contract until about 200-300 left across BF/DST.

DST does lots of their TA work in India and the plans coming out in January will include shutting down the mail room in Canton. Moving all recon control to KC and India and to move 50% of CP and everything else to KC and India. Hang on for your package but the people going this week got the last round under the BFDS severance. All future rounds will get the DST package which is much less. It’s sad but the TA industry is dead. Trust me. Look for a job now

October 4th, 2017, Poindexter Building Conference rooms 300 and 401 were booked by HR from 7:30-5:00 today. They started early, around 7:45 calling the chosen and instructing them to the 4th or 3rd fl conference room, to be "Cut" from the company.

They decimated the Media Team on our floor, Poindexter building 4th; They cut half the staff of the group including the manager. The Media Team was overworked with a full staff, before they sliced and diced, and now will be buried. Meanwhile the DST upper echelon continues to produce, an distribute videos to the remaining employees in hopes of convincing them that the lemonade is ok to drink. The Don't treat their employees as human being or with respect, just more Fluffy lies to make you think they care and that you're part of plan to help DST grow.

I heard today the they're not done this week and more are supposed to be coming in November.

"In the know" was right, flurry of activity as people in Quincy and the Midwest are being let go!

Moral is at an all time low because who wants to work hard if your on a list already. I haven't seen or heard anything yet.

First manager is gone today! The rumors are true but it appears it may only affect management as of yet.

A lot of people would have moved on earlier if not for the hopes for a package. Most people I know have worked here for over 18 years. Many groups will refuse to leave to east coast processing and transfer agencies can't disappear because there is a lot that goes into it. BFDS sent work to India and took it back because they couldn't do it right. This is the perfect place to complain and share information. Most people in the know seem to know little or nothing!