Any guesses on timeline?
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“Agree no Ch 7 and if those of us that are left don't give up or leave and continue to work hard and give our new owners a reason not to break apart and destroy the post Ch 11 Sungard then maybe our new owners keep us whole and sell/merge us into a stronger company or we don't get sold and turn things around.”
This is a deeply moving comment. It is all about motivation and willingness. On top of that we have one thing powering us, that is we are the pioneers of disaster recovery. My manager always tells me that and I can’t tell you how much I get motivated in the morning.
Based on the general stupidity and foolish beliefs of the people who comment on this site, I can see why the company is in the position it's in at this point. I went back a year and read every post and comment, the handwriting was on the wall and you failed to believe it. Now the simple truth is staring you in the face, and you don't believe it. 6 months from now do yourself a favor and don't post anything because it will make you all look even worse.
Customers will definitely keep leaving .
Chapter 11 company who continues to offshore customer facing employees
I would think they need to act fast. Customers most assuredly will continue to leave. Plus, wouldn't expect a lot of new business at all.
Worker bees can leave. Even drones can fly away. The queen is their slave.
You people are so blind. I have a really nice bridge for sale. Wake the hell up. Better yet just wait time will tell massive layoffs coming. By end of year you will see. Chapter 11 and then they dumped us. Oh wait we can still make it work, that's why they gave it away to the vultures
Your a joke! The debit is Not gone...you are clueless. St in debt 400 million and have not turned a profit in years. Lol n
But you laugh at the site you are on.
Life support?
If a great Q1 and 2/3 of our debt being wiped out is life support...sign me up. LOL.
This site has become a joke of misinformation and half-truths.
That's funny!!!
IF you were a customer would you extend your contract or IF a new customer do business with a DR company that needs DR ?
Life support?
If a great Q1 and 2/3 of our debt being wiped out is life support...sign me up. LOL.
This site has become a joke of misinformation and half-truths.
This company is on life support, best and only thing that will save us is sale they are going to sell all the data centers all all all, and in the end whatever is not sold will be liquidated. Things will heat up fast these new people are not in it to grow. Only reason they did this is they saw money in the sale or in liquidation. This are facts bot someone on here to cause worry.
Just checked most are recovery services, pre sales and a bit of product.
Let’s see what May Day brings!
I think the 300 jobs in India post was an exaggeration. However over the past year or two there has been an absolute hiring frenzy over in India with the purpose of offshoring US positions. Check current India job postings - the hiring frenzy isn’t over
Read on a few posts elsewhere that around 300 jobs in India have been advertised with limited experience, not sure how true that is.
I mean how much offshoring will be enough there are skeletons left in the UK and US onshore where everyone’s work load is the equivalent of around 2-3 people because of the limited staff.
If that is their plan then things aren’t looking good but we can’t predict the future one things for sure Stern and his team will leave with their payouts in May, not sure if that is some sort of positive?
Once they finish offshoring the rest of recovery operations the rest of the customers will leave
Sungard has no chance
@YqoAXqh-2spv I agree, once the creditors take over I think they will be surprised with our staff as pretty much any staff member on the bottom line will always go out of their way to help.
It’s just up the food chain with management with the issues are it’s clear as day, I would love to be optimistic that they keep the company together, I’ve repeated this on another thread but Stern last company USInternetworking filed for Chapter 11 in 2001 and were bought out but AT&T in a post bankruptcy fire sale I’m not sure if that is on the cards as I don’t know who would buy as we have not really advanced our product and services with the current IT Market.
I’m no expert and none of us know what is going to happen but when SGAS split from the parent back in 2014 surely the board and the private equity plan would have had some sort of plan and chapter 11 might have been the last option.
All we can do is keep carrying on as normal unless salaries stopped getting paid we’ve got a problem but reading a couple of articles $100 million of fresh cash has been put in to continue operations.
Agree no Ch 7 and if those of us that are left don't give up or leave and continue to work hard and give our new owners a reason not to break apart and destroy the post Ch 11 Sungard then maybe our new owners keep us whole and sell/merge us into a stronger company or we don't get sold and turn things around. I know the sceptics will jump all over my post but just keep in mind that although most of what's going to happen to Sungard and it's employees is outside of our control to a very limited extent us employees have some say in our destiny in that if we give up were are done. Let's prove to our new owners that Sungard is worth saving.
If chapter 7 happens creditors are screwed, its in their interests to keep this sinking ship alive at all costs via selling anything and everything or a merger which I highly doubt
Chapter 7 Not happening
Ya seriously. Get a life.
Give it a rest