Thread regarding DST Systems layoffs

@RUZQIMM-4xdq - it looks like the golden parachutes were designed as payouts to senior execs, not protections for their positions as you had speculated. Beth Sweetman and Vercie Lark are both no longer with DST effective immediately and Hooley coasted out the day the sale finalized. The robber barrons got their payday....

Nowadays I seriously wonder what it takes to be a CEO, not what you know but who you know? Pay for performance???phhtt! DST has board member while at Sprint was named WORST CEO in America, and still walked away with millions. Most recently Wells CEO forced to resign, over establishment of accounts customers never asked for, was forced to give back some of his retirement...ow hurt me...all of the execs will catch on somewhere, and if they are terminated will still walk away with millions. Its not about performance its about the 'golden chute' these guys couldn't care less about their performance.

It doesn’t take much to qualify for the golden parachute. It can be as simple as asking the executive to relocate. It seems obvious that the executives with golden parachutes would be asked to move to the corporate headquarters outside of KC. My guess is everyone with a “chute” would say thank you very much!

So your saying the execs have cushion but to hell with the true workers!!!! Sounds like an exec wrote that comment. Give it a break, employees will get the shaft and the execs have no compassion for anyone. Screw them.

The author of this needs to understand what a golden parachute actually is. Those huge amounts are only paid if those executives are terminated without case or if they resign under extreme circumstances. It is all laid out in the proxy, if you bothered to read it. A golden parachute clause is standard operating procedure in most all corporate buyouts and takeovers. They are put in place to prevent a company like SS&C from coming in after the transfer of power and immediately cleaning house and firing all the DST execs. That clause protects that from happening without significant financial ramifications. Hopefully the author of the Pitch article will be a little more educated than the author of this piece.

Just great now we are getting threats from dst systems if we talk.

Sounds like Beth! As she walk south wth a few million - Good bye HR VP loser

It should be posted in the Facebook group for "Former DST Employees".

Problem is....who reads The Pitch anymore?

This should be interesting. Can't wait to see who wants to fast track themselves out the front door going on the record.

Off the record would read like Page Six.

An article can't do the story justice. It needs to be a book. Maybe a series...

I hope this article happens. DST has been a sinking ship ever since Hooley became CEO, and now he's selling it to disappear into the night with his millions. Does he realize he's a failure? Because running a company so poorly that you have to sell it isn't what a good CEO does.