Thread regarding DST Systems layoffs

List the bad decisions that were made under Hooley's leadership

  1. Hiring a CIO with no experience

  2. Moving that CIO over the financial services group after he failed as a CIO

  3. Hiring another CIO with no experience in IT

  4. Focusing heavily on EPS

  5. Paying VP's East Coast salaries that are not sustainable

  6. Not hiring a COO to manage operations

  7. Overpaying HR executives (8 VP's in HR)

  8. VP's reporting to VP's Directors reporting to Directors...see #6 to solve that issue

  9. Laying off tenured associates with industry knowledge

  10. Giving 4 weeks of vacation to newly hired associates

  11. Eliminating profit sharing and the ESOP

  12. Allowing all the execs to reorg without them knowing the business only to change things back after a year of failure

Please add to the list

by Anonymous
| 2541 views | | 10 replies (last March 3, 2018) | Reply
Post ID: @OP+RYCvpns
Comment! It's anonymous!

10 replies (most recent on top)

bro, Hooley made bank. Some people win, some people lose.

by Anonymous
| | Reply
Post ID: @2kkx+RYCvpns

was also lucky to work under McDonnell tenure. the leadership back then 'made it work' with the employees and did so much for downtown and surrounding areas. would have loved to work my whole career within DST but like so many others left for the same reasons. . Too bad it is all falling a part this year.

by Anonymous
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Post ID: @dol+RYCvpns

Bitter, for myself, you bet at first. Otherwise I wouldn't have quit. I'd had enough. Constant bad decisions, twirling management, and non stop layoffs.

I got another job 3 months prior to my 30th anniversary. It just wasn't getting better.

I'm very thankful that most of my tenure was under McDonnell. Very.

by Anonymous
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Post ID: @exh+RYCvpns

The person is not bitter - they are right. Verci has no business running financial services. The parade of folks that have come and gone at that level have made it impossible to manage any kind of strategic direction. I left DST a year ago after 25 years. I am so glad I made the move!!!!!

by Anonymous
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Post ID: @lnj+RYCvpns

Your list of 12 is about 50% accurate.

by Anonymous
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Post ID: @xkt+RYCvpns

Layoffs starting today? Saw one of the plethora of HR VPs headed to a meeting with what appeared to be several of her minions....handful of conference rooms off-line today, tomorrow and all of next week M-F.

by Anonymous
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Post ID: @ogb+RYCvpns

bit·ter: see "burger flippers" post

by Anonymous
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Post ID: @kxc+RYCvpns

I don't see that post as being bitter. I think the person is simply stating his or her opinion as to what led to the downfall of a once successful company.

by Anonymous
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Post ID: @xtj+RYCvpns

You sound bitter.

by Anonymous
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Post ID: @ryc+RYCvpns
  1. Allowing overseas associates to write our code. We ended up rewriting it because it was junk. Waste of dollars.
by Anonymous
| | Reply
Post ID: @zeo+RYCvpns

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