Ladies and gents - next week June 26th and the 27th, 900-1200 people will be let go. 200 will be BFDS and the rest are DST people. I just didn't want to share this info before, so make sure you clean your desks if you have a feeling you are on the list.
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This is why I don’t post fake info.
https://www.youtube.com/watch?v=j73GwyEyXps
Got an email a month ago for a position I interviewed for in KC. I had already found work elsewhere but the email thanked me for interviewing but they had decided not to fill the position after all. Now I see layoffs. Looks like I dodged a bullet.
Is it that you have to use your severance before you can apply for unenployment?
40% is withholding, not tax. You'll probably get a good part of it back next year.
I'd start packing my belongings now. Get ready for tuesday and wednesday. Bye Bye DST…Hello summer!!
Good luck, everyone. This is going to be an awful weekend worrying about next Tuesday and Wednesday.
Just FYI to previous post, 401(k) contribution will not be deducted from severance pay. It’s considered supplemental pay/bonus, and retirement account contributions are not taken out. It also taxed at a higher rate like a bonus—I think around 40%.
oh so losing your job and having to pay COBRA health care costs OR having NO INSURANCE and getting ill/hurt is okay.
Its all messed up no matter what. You lose your job and ur effed if you get sick or hurt and don't have insurance.
layoffs are horrible.
CC = Crown Colony. Quincy, MA
There is no longer a tax penalty for not having health insurance. The tax cut package that got passed six months ago removed it so you are no longer penalized. Few people on this site know what they're talking about
the health care cost if you lose your job is very expensive through COBRA, around a $1000 per month at the minimum. If you don't sign up for COBRA, you get penalized when you do your taxes for not having health insurance. Either way you pay. America, what a great nation.
Not sure how the health insurance will work, but spoke to someone who was let go in 2017 and health insurance only carried thru to the end of the pay period so it was only 8 business days for them and Cobra was offered after that at 50% for a few months and that discounted cost was still substantial.
Canton, MA people will be moving to Crown 1st floor, we are working on it.
Congrats to the person starting a new job on July 9. Well done and well timed.
Anyone with bills, mortgage, family to pay for has a huge risk is they don't have something lined up, as severance is not going to be much.
I'm leaving either way. Was planning on giving notice today as I start a new job on July 9th. The rumors have been so prevalent that I see no harm in waiting. Seems even if I were to survive the "cut" once I give notice I'll be kicked to the curb anyway so why not wait possibly get an envelope and just bank that money away. I will be curious if severance is 2 weeks for every year or capped at a certain number of weeks. I do know for a fact that you do not get the money immediately as you will have to sign-off on paperwork, place in a provided envelope and mail to the address on the envelope and will take a few weeks for your check to be received or monies direct deposited.
Crown Colony?
Any delivery coming to Canton, Ma???
Cc?
The envelopes for the severance packages have been delivered to HR in CC
545 and 565 is suspiciously booked all day to by admins on the 26th..
Also severance is taxed at 40%!
647 was shown as actually booked all day then the name got removed on there when looked yesterday. Is very suspicious still as that room is usually hard to get a meeting in.
Look at 701
I don’t see that CT647 is booked all day. It’s actualy completely open which is a little suspicious. But I see there’s a room in CT5 reserved all day Tuesday.
May be too late, but if you think you are on the list, you might want to lower your 401k contribution. Not sure exactly how severance would work, but if it’s a lump sum, you might get a hefty chunk taken out as a contribution?
No layoffs until 2019.
It sounds like the former Enterprise Services group and the Financial Services group will take a lot of that reduction. That means KC and Boston area, but it’s hard to tell from rumors whether the offshore teams are impacted.
Agree, I feel bad for those who don't get laid off. Those who remain will have the extra work dumped on them without any appreciation or accolades. Those who are let go, will not get as much as a pat on the back but a kick in the *ss for their service. Does any one really believe they're going to hand out packages???? I doubt it. But maybe they will to ease the bad press concerning pending lawsuits.
Have some compassion for the people that don't get let go. Who gets stuck with the remedial spreadsheet tasks when all the low hanging fruit is let go.. THEY DO! Along with the work they currently do, they now have to update some meaningless daily spreadsheet that nobody reads anyway. That's the thanks they get for staying. And if your co-worker happened to do more than update spreadsheets, guess what, you get that work too.
The next round will be even worse. Or by attrition. With all low hanging fruit gone. All that's left is people that do real work but ticked off a director at some point. Now you basically get double work with no more pay and no raises ever becuz "COST CUTTING" But youll stay 4 your 8 weeks of vacation instead of leaving for a reasonable company with reasonable demands
Again, have some compassion!
Everything is already in place. Individuals have already been slotted for layoff. Only thing left to do is implement the action. This will take place next week. Fact!!
You can also check the calendars of your HR business partners. I checked our this morning and they were blocked off all day Monday and Tuesday.
You'll see 647 booked all day in centennial at least then. Just have to view the calendar for the rooms.
Yeah, I’ve been looking in Outlook but haven’t seen anything. And it is at least the 26th for sure. Has been confirmed in our area on a director level. There’s a list, recommendations were made weeks ago, but the list is still constantly changing.
Poindexter will prob have their rooms to.
Seriously, I wasnt the origional poster but we have been over this. This is a layoff site. This is what people come on here to find out for. Take this Sh!t seriously...despite all the naysayers trying to belittle others on here for posting what they have heard. This is no joke but you all are grown adults and can believe whatever the heck you want to.
@TLl7IRk-fie BFDS (Boston Financial Data Services) that was acquired by DST last year.
@TLl7IRk-gyo This is 100% sure, not playing any games.
BFDS? WHAT DOES THAT STAND FOR? AND DO YOU KNOW IF THIS FOR THE CLAIMS DEPT AS WELL?
How do you know this? Are you 100% sure? Are you a 'higher up'
Otherwise, it isn't nice to get people in a frazzle over rumors.