Thread regarding DST Systems layoffs

Yes they will replace the tenured workers with less experience as they are willing to change to ss&c goals. Doing more with less

Courtesy bump

Some people on this site are very strange. Do I have to really state that this is a forum? Take the info as it is. If you don't believe people's postings on this site then verify within your own channels. People can post whatever they want to job related on here. Like SSnC just got bought by IBM. :) annnnd go......

Stop giving wrong info. I had my manager explain. You get 2 years pay for every year employed up to 52 weeks. So if you are at DST for 15 years that’s 30 weeks pay. Also. Tenure means nothing. Senior employees are more knowledgeable, need less training, and better at their jobs. Most likely it will be an intire department they will wipe out not just an individual or get rid of those on corrective action. Now if you are in the call center you will be the least likely to get laid off for that is a huge turnover and people drop out on their own eventually anyways and they need people to answer calls. If you are in a small department that does work another department can take over you may get axed. Ss&c is already in finance so mutual fund people and anything that overlaps ss&c are the ones most likely to get laid off. They are wanting to go into healthcare so health solutions and pharmacy solutions should be rather safe

Wait, minimum of ten weeks? In October 2017, someone in my department got four weeks (two years of service). I hope he doesn’t find out about this new memo.

Wow, the original poster must think that they are telling everyone something they don't already know. How old are they, I wonder, maybe 20? Oh, thank God that there are young people who can finally explain it to us all. LOL! Get over yourselves. As long as you're employed, someone could decide you're no longer needed -- no matter how young, cute, smart and fresh you think you are.

If you have been here 5 years or less, you get 10 weeks. If you have been here between 6 to 25 years, you get 2 weeks for every year you have been here. If you have been here 26 years or more, you get 52 weeks. Basically all the memo said was you get 2 weeks for every year with a minimum of 10 weeks and a maximum of 52 weeks which works out to what I explained above. Officers get a higher minimum of 20 weeks.

Can soneome explain what the severance package is? Is the 2 weeks for every year of service still valid up to 52 weeks? I’m confused about the enhanced version.

Minimum of 10 weeks up to 52 weeks. Someone needs to reread the email.

@Su4Xnjw-pmf People have offices?!

If you saw the email then you know that everyone below VP L5 gets 10 weeks of severance, flat. no more, no less.

Merger always means you layoff the people who have been there the longest, as they are the ones who hate change the most.

Remember people, up is down, black is white now....

Nothing makes sense anymore.

And, newer employees typicallly have a fresher skill set.

Nope. Severance has tax writes offs. Newer employees are more valuable than older ones. Older employees are jaded.

They always get rid of the lifers.

I would think its the opposite. The severance pay for long timers will be expensive.

New hires over the last two years were brought in to replace those that have been there a long time.

The guy you trained is going to take your job and office.

Now you know.