What is their next step?
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More cuts in the work as SS&C will want a progress on the DST restructuring. Cut everything non essential which includes people, facilities, agreements, etc. By end of 2018, if they don't see enough cuts, they will cut further. By end of 2019, the other cuts and consolidation of companies will need to take effect otherwise the numbers will not be met. If not met, SS&C management will let go most of the DST management in one quarter. The rest of DST will be left to pick up the pieces and listen to SS&C instructions to cut further. There will be so many cuts that the jobs won't be replaced until there is actually a desperate need which may occur after 2020.
Two medical plans to choose from. Ppo & high deductible plans
Assuming they meant two kinds of plans but never know with cut throat companies like SS&C.
Health plans limited to two what does that mean? For two people only? or two kinds of plans?
Ss&c will cut the 401k match to 4K a year. Really low. The Pto will be use it or lose it within a year so they won’t have a large liability. Health plans will be limited to two. And the cost will be more towards the employee. Ss&c will pressure management to cut more as the executives have to stay at least a year to get their payouts. After a year, there will be more cuts.
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Ssnc is not done, they will well exceed the 150 million they told the street. This of course doesn’t factor in the continued organic loss from registered accounts, a retirement business that can’t grow from a margin perspective and a brokerage business that is a commodity. They will reduce PTO and the 401k match next year. Mike s. who runs the company is not a leader- he is the “cleaner”. A lot of great people still at dst, as someone who still is at the company it just makes good sense to me to have resume ready and look for other things. Or I just become another “hanger on” from the eloquent mr. Stone