Customers mean you need employees to service them. Hooley to prop up EPS and falling revenue has endless layoffs. Problem is Hooley ran out of employees to cut last october. Cornered between his failure and resigning he found his golden ticket to sell the failing company. Actually just the clients it has left and there contracts. Ssnc wants the client base, it knows Hooley left nothing else of the company worth keeping. Wonder why clients are getting angry like they got conned.
1 reply
I agree with your statement. The focus has always been on a high EPS hence the sell off of assets such as real estate, DST Output and Global Solutions. They had to make up for low revenue and high expenses. There was no way this company was going to survive without a COO that could reign in high exec salaries and keep operations in check. Hooley has no experience with operations. He is a great salesman but fails in operational efficiencies.