As somebody said in another thread, SS&C did not buy us for the workforce. They'll barely need any of us once they finish incorporating what they want into their own system.
It might take a year or two, but at least 90 percent of DST employees will be gone once the dust settles.
If you get an opportunity to leave, jump at it. There is no future for DST folks here.
SSnC already has a huge datacenter so the winchester datacenter will be moved. It's already evident that they will be doing this after next year when they don't have to honor the one year grace period.
Don't expect much to stay, IT is moving and more than likely the office will downsize. If not downsizing doesn't fall in line with their expectatons, then expect deeper cuts. Bill is not playing around and DST management will get an ear full of explentives from Bill directly. Corp raiders don't like it when you interfer with their $$$$. Employess be damned as they are only collateral damage.
Yes if a stale software makes money they don’t need people to improve it. You are wrong when you say they don t understand the business, the only look at DST cash holdings. If the can generate the sam revenues with less expenses it’s easy. Client are locked into long deals anyways... it like the can predict the revenue and cash easier. Just need to control expenses. Biggest expenses are people salaries benefits, facilities, etc. the can easily cut those. Don’t worry about what will happen as it’s happening already. Slowly they will pressure all the dept heads to bring down costs, headcount, and projects. Any and alll projects that cost money will need to be justified. Any and all expenses over 5k will be questioned. No more spending on failed upgrades. Anything not making money will be scraped. Clients wanting to leave will be sold othe ss&c products. No need to developer to make upgrades.
Some of the names and positions I saw cut makes me believe they didn't spend much time thinking of who or how many and where they need to run the biz. Many clients are on long term deals. The systems run and the revenue comes in. Stone probably wants a skeleton crew to triage systems probs and do must have enhancements. The rest can be cut and the revenue still comes in. He needs Winchester data center and some of the staff, but buildings full of people in KC could be cut any replaced with people offshore over time. or quickly. Looks like DST over 10 years cut around 5000 domestically and added 7000 off shore. Stone will keep going only more ruthless. In a Forbes interview years ago he said he was driven to be rich. He didn't say he values building a community oriented local company for sure.
Dont Stay There.
Believe it it’s been a long time coming
Whatever.
Move on already. No one is making anyone stay. If you do stay, at least enjoy the time you have. Some get laid off, some don't. Guaranteed in a year things will be forgotten and business as usual.
From one who worked 28 years in a company that did probably 100 acquisitions, the bought company employee's will get the short end most times. Only the good and a-- kissers will survive. 100% of duplication will be eliminated. So you can't have 2 developers writing same code result. Management will get hardest hit initially, then everyone else slowly so nobody notices.
90% - what a moronic comment by an obvious outsider or someone who doesn't understand the business... Who would do all the TA work, the revenue engine of DST? Do you know how many mutual fund TA associates or experts they have at SSNC? zero.
So true. Unless your last name is Stone (he currently employs all of his children according to the SS&C layoff boards) you are not wanted or needed. This is just a revenue grab to double the size of Bill Stone's playground. He is not interested in you and sees no value in the work you do.