Former DST employee here. Married to a current DST employee. Close friends with many DST employees.
DST used to be one of the best places to work in KC. There is a reason there are so many employees that have worked there almost 20 years. But at some point DST became the same as every other publicly traded company in the US: all about the bottom line. Raises have been basically non existent for years. Hiring freezes in place for years. Cost cutting in every way imaginable. And then they sold out and the executives made out like fat rats and laughed their asses off on the way out. Employees get screwed. Rich get richer. Everyone blames immigrants.
Most DST folks knew this was coming. Rumors had been abounding and most people knew that the layoffs were starting again today. It is pretty bad when many people I know there, including my wife were disappointed to not get laid off.
Morale has been spiraling out of control for the past few years. Then the new buyout happened and it flatlined. Apparently the new company has actually said in some of the “town halls” that right now they are needing to cut costs, and that 70% of their costs are people. Everyone is assuming this is just the beginning.
For the first year SS&C has to honor the DST severance package, which is 2 weeks pay for each year of employment. So newer employees get screwed, while more tenured employees actually make out decently(all things considered). But after the year is up they can use whatever severance they chose to give. I would guess it wont be as generous and that the layoffs after the year is up will be on a much larger scale.