can we just relax a bit and coast?
13 replies (most recent on top)
Yes use up all your vacation. once they install a PTO system they will limit your sick days to 6 and then wipe off the remaining vacation balances...good for SSnc,...saves $$$$$$$$.
Those wil vacation banked will lose it all by the end of 2019 if they don t use it up. Ssnc will change it to a paid time off system you use it or lose it within the year. They won’t let you cash out unless you leave the company. Anyone with a large balance is considered a huge liability for ssnc. With so many employees, they will save $$.
Only the start of Bill stones master plan. He could care less about the employees. He want dst cash and flip dst for more cash. Don’t fool yourself the plan is have a lean workforce and facility. Overhead and human capital are hurting the bottom line. Scrap expensive projects and upgrades. Move the entire dst network to ss&c s networks. Ever cheap method they will use. Don’t spend a dime on investing in new product development. It won’t get you to the 40 margin they have goaled. If you below 40 in margins it’s a bad sign. But if you have all this cash it not bad. It just means your product sells but making a profit is hard. Any good business actually has 60 percent margins. Yo get to 40 the dept heads need to find cost saving methods. People will need to cover the other employees at the expense of productivty. Don’t expect it to get better any time soon. It’s july and two more quarters until 2019 when the real s@it will hit even harder.
The layoffs will continue to be in batches of less than 500 per month. Laying off less then 500 people will not trigger the company to have to notify Missouri based on the WARN act. https://www.kansascity.com/news/business/article214369124.html Read here that even though DST has someone on the board of the local talent network, TeamKC, they did nothing to proactively help the people being let go until after it already happened. What a disgrace, glad I left years ago and moved my 401k out from their inept management.
My manager and other higher ups in my dept are using their vacation like never before - half my team is gone and I'm doing the work of 3. If they don't lay me off I'm ready to quit!
Layoffs are not over, this is the beginning. Look for another job now until is too late!
I got connections with the top guys so I'm just letting some of you know. It's just painful to see everyone on here assume things...
Karma has a funny way of working out in these situations...
It will be fun to watch what happens over the years...
Only Bill Stone will be relaxing.
Why would anyone work at all when more layoffs are coming? Makes no sense ..they are stupid not to do it all at once.
Relax and coast? Our group of 5 lost 2 and duties were divided between the three of us remaining. Somehow our useless manager in Quincy is back to her last in first out mentality.
Are you trying to be funny? They stated in their SEC filing that they expect to be finished with this layoff at the end of December.
Sure! Yeah, that will happen.
Yeah we can all relax a bit now. Everything will be fine.