News is out. DST is being bought. Gonna layoff the remains at Kansas City. Execs will make out like bandits. The recent restructuring and retitling was icing on the cake. If you're considering a job st DST - don't.
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You're right - severance is not owed...but wow that would be just looooooow.
Of course, I wouldn't put it past current leadership.
The last 2 years had this written all over it. I kept thinking the cuts and moves they were making were either to cut costs to make another foolish acquisition, or cut the expenses, raise the margin and make a sale. I knew it.
Now, I wonder what happens when massive layoffs hit again under a new umbrella. I keep wondering when severance is no longer at play. For you all you upper management that were part of the layoff planning the last few years, it's your turn! :)
All the investigations are ways for large shareholders to squeeze more money from ss&c. Once ss&c pays them off, the acquisition will go through.
Prepare yourself for the reorg/layoff carousel that is to come and stay for the next few years. With this much overlap it's going to happen.
Have there been any rumblings of groups being let go? Are certain project deadlines not so urgent any more? Have any managers gone out of their way to console people that things will be ok? All telltale signs.
To the poster who said there will be many laid off - you're right. Best thing anyone can do is take their talent elsewhere now and let the place sink. With any luck it'll also ruin the crap deal for the heartless execs and they can watch their stock plummet until they get exactly what the hard working staff would get - nothing.
Making a paycheck while it lasts is commendable the sad thing is some people keep trying. Just show up do as little as possibe and leave. There is no more dst systems. Look at the employee reviews for ss&c, if you think dst systems has went down hill over the past 13 years ss&c is near the bottom of the barrel.
companies with this much overlap always layoff heavy on the acquired firm's side. Anyone saying "we'll see" or "maybe this is a good thing" will find themselves unemployed.
another...
https://www.marketwatch.com/story/shareholder-alert-brower-piven-commences-an-investigation-into-the-proposed-sale-of-dst-systems-inc-and-encourages-investors-to-contact-the-firm-for-additional-information-2018-01-12?siteid=nbsh
another one....
https://www.marketwatch.com/story/dst-systems-inc-shareholder-alertformer-sec-attorney-willie-briscoe-investigates-merger-with-ssc-technologies-holdings-inc-2018-01-12?siteid=nbsh
This has been in the works for years. Every company knows a ceo like hooley takes a self sufficient company turns it into a pile of smelly hooley then sells it to some poor schmuck before his failure hits full force. This company has no idea the the failings hooley created and sold them for profit.
Yeah...one more.....
https://www.marketwatch.com/story/bragar-eagel-squire-pc-is-investigating-the-board-of-directors-of-dst-systems-inc-dst-on-behalf-of-stockholders-and-encourages-investors-to-contact-the-firm-2018-01-11?siteid=nbsh
and one more.....
https://www.marketwatch.com/story/shareholder-alert-levi-korsinsky-llp-notifies-investors-of-an-investigation-concerning-whether-the-sale-of-dst-systems-inc-to-ssc-technologies-holdings-inc-is-fair-to-shareholders-2018-01-11?siteid=nbsh
And a third.....
https://www.marketwatch.com/story/dst-systems-inc-shareholder-alert-rigrodsky-long-pa-announces-investigation-of-buyout-2018-01-11?siteid=nbsh
And another.....
https://www.marketwatch.com/story/alert-rowley-law-pllc-is-investigating-proposed-acquisition-of-dst-systems-inc-2018-01-11?siteid=nbsh
Look at this.....an investigation.
https://www.marketwatch.com/story/dst-alert-johnson-fistel-investigates-proposed-sale-of-dst-systems-inc-is-84-a-fair-price-2018-01-11?siteid=nbsh
I would love to see key people quit and completely eff this deal.
Oh please - the likelihood of layoffs is as predictable as Trump saying something idiotic tomorrow.
Yes!! MAGA!
There was no announcement that everyone in KC was going to be laid off. Don't yell "FIRE" just yet.
F--- the Toms.
F--- Hatchet Hooley.
McDonnell gave himself an 80% raise after the first layoff ever in 2008. He was just as much a piece of sh-- as Hooley is.
I really don't know if they will be upset or not.
McDonnell will make $61,424,077.00 by selling all his stocks at 84.00.
McCullough will make $29,503,320.00 by selling all his stocks at 84.00.
Hooley will make $10,876,488.00 by selling all his stocks at 84.00.
Regular Hard Working Employee will get the SHAFT!
It's a crying shame.
I'm sure the two Toms are so sad to see all their long hard work of making a hometown company destroyed and shipped to the East coast...
Hooley only made around 2.5 million today with his DST Stock that went up 21%. He is really going to be hurting after he heads to his beach house after he and many other executives get there big golden parachutes after DST is sold. HELL WITH THE LITTLE GUYS WHO DO ALL THE WORK.