Apparently we've had a bad week. You don't say. I think we will be stuck on this list for at least a month or two, until the whole layoffs backlog is cleared out. At least until the next cleansing instituted by SS&C.
https://www.crn.com/slide-shows/channel-programs/300106176/5-companies-that-had-a-rough-week.htm/pgno/0/2
Yes there will be many project managers and pro services team who will leave due to the constant pressures to make the numbers. Given dst customer base the will need to see gigantic number leave before they act. They’ve factored in customer losses already. The fact is dst is still heavily in debt and the cash holdings are large. They will need to do more drastic changes next year when they don’t make the numbers.
No one has factored in broken contracts from dissatisfied customers.
The lay offs will be far worse than anyone could imagine.
Wait for it...
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2019 will be the beginning of more cuts. Either they sell off parts of the company or let go more people. Either way the want to keep the profitable products going. They won’t invest more $$ to improve the products. The just want the recurring customers to pay and then ss&c will take the cash. All that matters is they get their cash and their way. DST manages the day to day stuff but once the don’t hit the numbers (cuts, layoffs, consolidating offices, etc) then the gloves come off. DST management will get an earful of expletives and then will be let go without their golden parachutes. DST management has to stay at least another year to get their $$$ so they better not piss off Bill. He will not hesitate to fire anyone who doesn’t listen to him. If you don’t like it leave then. I’ll get the next guy to do it. Then the next guy and so on...
The band-aid was ripped off at once for 2018. All that will be gone by year end are either already gone or have been given their deferred departure date. But 2019???
whatever. either wait it out and see if you can keep your job or find a new job!!! why speculate about things that may never happen?
There will be more cuts. DST management is bloated and ss&c will take the chainsaws out and start cutting. Ss&c views human capital is a big $$ expense. Anything to cut first will always be scruintinized. The will cut so many people that eventually the will start hiring again maybe in 2021
Should I find myself on a list, I need to figure out what to do so that SSNC gets their money's worth out of the off duty officers they hire, no nothing violent or life threatening, or destructive something obnoxious, something to make the undercover cop get out of his chair in front of the TV in the break room.
The report to the SEC stated “approximately” 900 will be cut. I would venture to say they would report on the low side. The cut will probably be more than 900. It also stated the cuts would go up to end of December 2018.
On another thought, don’t you think that they could just make a second filing, after the fact? Kind of like they did on the first filing.
Looks like another 40-50 people will be laid off before December 2018. Which means MANY people will still have a job.
I see the glass as half to three quarters full.
Whatever. Move on already. Either stay at your job and accept the changes in process or get another job. It's not rocket science.
Being in a bad mood because you can't accept the changes that come in life with things like this is no way to exist. Relax.