As a downtown supporter, didn't they pledge to never downsize? How does Dst former upper management feel about the owner's changes?
7 replies (most recent on top)
Intelligent executives know how to walk the line between company and employee. Every publicly traded company has employees just as it does share holders. Weak companies have high turnover and continouse rifs. Dst in its end showed that unintelligent executives will be the undoing of a company one way or another. The sad part is the executives were rewarded a fortune for being mediocre in there perfession at best. Only time will tell if Stone is just as ign@rant and weak as Hooley. Truth be told Stone is 63 years old and worth 2 billion, stepping down is soon coming. The next ceo will usher in the slow demise of ssnc just as it did dst.
The place got raided by greedy bums. I remember being proud to work there at one point. Now the world doesn’t even remember the name DST and guys like Holley, Lark, et al, they will never have to work again for the rest of their lives. This is the perfect example of what’s wrong in this country. Corp tax cuts fueled the stock buy-backs, companies having no clue what to do with their pile of cash, and competitors buying each other up in all types of industries. I’m glad I moved on when I did, but everything I did at DST was a waste of time because nobody knows the brand. It’s like DST was erased from the planet overnight.
New regime will make those layoffs last year look like a same pea. Bottom line is earnings and the quickest way to reduce wages.
Just take all your stuff and go to SunGard or a competitor. Your inside knowledge of dst applications is worth more than you think. Don't wait for layoff
No matter what you say, layoffs have and will always be used to get rid of problem people. Period. If your boss doesn't like you, you are more likely to get laid off even if you do great work. Just the way it is.
It was new to the Hooly era, and the board that installed him. Corporations exist to serve shareholders, not communities that host them, nor their employees, nor their customers, nor even basic decency. The new way is the old way, rapacious capitalism.
DST has been having layoffs for a decade. It's not unique to the new owner.