Is it true we'll be seeing more layoffs as early as August? I've seen this mentioned in several places, but it's hard to believe they'd push them together so closely.
It would make more sense to me to just have one major round of layoffs all at once than two smaller ones in such a short time frame.
layoffs are coming
Yes that was for the filing and the sec filing. It will change in September and December. Don’t kid yourself as there is a one year grace period. More cuts are on the way as human capital is just one part of the restructuring. After one year the entire top & division heads will be ALL gone as they will collect their packages. The exodus is here.
Item 2.05
Costs Associated With Exit or Disposal Activities.
On June 26, 2018, SS&C Technologies Holdings, Inc. (the “Company”) approved a plan which is expected to result in a reduction in headcount of approximately 900 employees of DST Systems, Inc. and its subsidiaries (“DST”) in connection with integration efforts relating to the April 2018 acquisition of DST by the Company.
Pre-tax charges associated with the reduction in headcount are estimated to total approximately $60 to $70 million, primarily consisting of severance and related expenses. The majority of the charge is expected to be incurred in the second quarter of 2018. Approximately $55 to $60 million of the total charge is estimated to result in cash expenditures, the vast majority of which will be paid in 2018. The remainder of the estimated charge is the result of the acceleration of expense of share-based payment awards. The majority of the positions eliminated in the reduction in force were effective in June 2018 and the reduction is expected to be complete by December 2018.
Time to look at the glass half full.
Try to understand. Listen carefully.
The MAJORITY of DST employees will NOT lose their jobs.
Hope this helps.
Yes ss&c has already determined dst’s fate. Cut employees, employee benefits medical dental, close offices, datacenters, consolidate HR, IT, legal, accounting team, bank accounts. Each month there will be added pressure to reduce costs and send dst,s cash to ss&c. They are nice now but soon the vultures will come out and attack dst’s management for not being aggressive at the cost cutting. 6% now next quarter 8% the 14% the 20%.
Management is so poor they don't differentiate much between top and low performers, they don't motivate except thru intimidation and they sure aren't leaders in any way; just cat herding bureaucrats. It's not a professional career, it's a job. It's indoor desk work that's paid decent with health bennies, but it's just a crap job. Much like a factory, punch the clock and don't have a care, you know they don't care for people, they resent them.
Yes, it's true. Many managers are advising their workers to start looking for another job.
No joke.
September through December.
Bump
@TURbda1-mix,
I have heard the same thing. That they will be doing layoffs in small increments so they won’t hit the news. Prior to that I had heard October was the next layoff.
This is not a time to be complacent.
Regardless if you plan to weather the storm or not, it is well advised to plan in advance.
There will be smaller groups of layoffs that no one will hear about... A few here, a few there, one there, etc. etc. etc.
Rinse , repeat.