Thread regarding DST Systems layoffs

I overheard a management meeting. More layoffs in October

More layoffs are coming. Can anyone seriously believe they are done cutting costs? In their filing to the SEC say they expect to get finished with this round of layoffs December 2018. https://investor.ssctech.com/investor-relations/financial-information/sec-filings/default.aspx

Dang cold blooded.

Town hall meetings are to appease the employee mass. Since DST is so large, they can lay everyone off. Cuts are already in the works and there will be more. They don't have to tell you until it happens. DST sounded like a miserable place to begin with and SSnc will ratchet it up to make the employees leave on their own.

Don't believe the leadership teams, they are towing the line. SSnc calls the shots and the leadership team will be gone in 2019....it will be the ssnc team. As someone who seen it, the corp raider playbook is being run to a tee. Anyone heard of a friendly takeover? SSnc need to make the numbers to appease shareholders. You mess with Bill's $ and he will f-- you up big time. Savings=Cuts in every level....sparing no one.

Yes, this is the tactic they want to use.....to prevent the employees from creating a disruption. They will catch you before they enter the building or just cutoff access. That what most big companies do. They shutdown the access so you don't delete anything. It's just the beginning. More ruthless tactics will be in store when they cut the vacation balances. If you have large balances, they ask you to reduce it or they won't let you carry it to next year....2020. they will limit your sick time to 6 days max. Then you have a choice to make, leave or let them cut it. They will cut benefits will be under ssnc, so don't expect more benefits...get your checkups and you will already max out. Sad.

brutal.

Heard from a "former" co-worker this morning letting me know that she was laid off at the end of the day yesterday after the rest of the team had left got the day. She believes she was one of four pulled aside on their way out of the building.

I don't believe mgmt only had a 4 days notice. They all knew well in advance.

This was communicated past week.. but not sure if we should trust the management or not.. as the management got to know 4 days prior of recent layoff.. does he really know what will happen next week?

Yes more layoffs for the coming year. Next year, the cuts will be more drastic.

There are more layoffs coming for sure. Smaller groups of overpaid people will be let go.

I’m assuming the excellent sheet is just a list of traits they want all employees to have. But it’s still sounds like they are evaluating.

This is weird as news is contrary to everything going on. Ssnc has already told dst management what needs to be done. They cannot lay everyone off at the same time. They do it in over a year period. When the grace period is over then more changes as that is when dst management will be all gone,

F_ck.

There WILL be more layoffs, (Oct31st for example). There will also be a round mid December from what I've heard, either way save yourself the stress and start looking for options before it's forced upon you.

Another processing team was just told they are being let go in October....so it ain't over yet folks....but most of us already knew that.

There was no recent communication from the leadership team stating there would not be any more layoffs. I am not sure what this person is trying to accomplish with this statement. But, propagating blatant lies only adds to the turmoil and concerns.

This sounds like someone is trying to be funny. "Excellent sheet"? wtf.

they are getting rid of most of the company... they bought the clients not the employees.

Where was this communicated?

Joke of the year..It appears that you haven't attended the recent town hall meeting.