All you have to do is go to SS&C’s SEC filings and read about the planned cuts through the end of 2018. They indicated that approximately 900 would be cut by December 2018. We lost under 500 last week. That means another 400+ yet to go this year alone. And those are the lucky ones who will receive a severance. That ends in the Spring of 2019. I recommend checking the Edgar database and reading the filing yourself so you understand that this is not just a rumor. Plan accordingly.
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Yes the last thing they want is to make a big scene at the KC office. They will quietly let go as many as possible. Anyone talking to the press will be fired and if they get a severance package they will rescind the offer. Bill Stone doesn't like bad press but he can't hide in his hole in CT. More cuts before any new positions get filled in.
they are keeping layoffs to under 500 people per batch so they do not have to notify Missouri 60 days in advance according to the WARN act.
They got rid of dead weight first round. Next they'll target the over age 50 people who are paid higher than other associates. Then they'll get rid of all of management that did all the laying off. Then they'll restructure and hire new, younger, cheaper workers as needed. No, they won't keep you up they can hire someone younger and cheaper.
Dang, it sounds awful. I just hope I can find something else.
SS&C will surely dismantle and rebrand all offices and products by the end of this year. DST as you know it will be called SS&C. More cuts are in the works. SS&C will ream DST management if they don't make their numbers by end of this year.
OP just wants to get people worried.
Just live your lives, if you get laid off, deal with it. No sense worrying now when you have a greater chance of NOT being laid off.
I'm not sure where your numbers are coming from but we lost 500+ just in Kansas City. Total lost in US was 800+
Ss&c will consolidate all the banking operations to monitor cash. DST will need to justify any expense over 5k For the dept heads. There is no operational expense that will not be questioned. Or contract they will cancel to save $$. They will be nice now until The need more cash each month
If you are so worried, get another job. They already cut 850 last week. The company needs to keep the majority of the employees. I'm sure there will be lots of attrition and less layoffs.
Yes more to come. Across the board cuts will be to each group. Top heavy depts will be first then middle managers the lower levels. They need to reduce it by this year to show they can make the numbers.
over 850 were cut last week.