Docket 428 https://cases.ra.kroll.com/SungardAS/Home-DownloadPDF?id1=MjE1NzcyNA==&id2=-1 Docket 429 https://cases.ra.kroll.com/SungardAS/Home-DownloadPDF?id1=MjE1NzcyNQ==&id2=-1
Key Employee Retention Plan. About 4 mil divided between 121 employees (avg 30K) vesting in 2023. Also, consider what it means if you're not. See Docket 421, dated yesterday.
The deadline for setting the reserve price has come and gone and it determines at what price the powers that be are willing to sell the whole lot for, no second bidders necessary and they won't challenge it with a bid of their own. So how much are... — read more
RIP to all of these great products! ECS, S2D, R2C, MV4DD, etc. Bonus points if you can translate! Extra credit if you think of others!
Not sure the link will post here but you can find it on dgtl infra Interesting read on Digital Realty’s financial exposure to Sungard with potential sale looming merely days away and what that means for moneys owed to DR.
Post your comment on Glassdoor as well.. UK based site but bleeding funny the comments. https://www.glassdoor.co.uk/Reviews/Sungard-Availability-Services-Reviews-E30485.htm You can call out the LT team even better on this platform. Good luck to... — read more
To the valiant few remaining. Not so much to the hangers on, like deer in the headlights not knowing what to do. But to the bold, brave, knowing their potential fate, and still embark on a likely unrewarded task. Commend your efforts. You hold this... — read more
Futile efforts with likely nothing to show for it in the end but a swift kick in the rear into the streets! Energies best served elsewhere.
June 21st - Objections to a Sale Transaction - That date has come and gone. June 27th - Reserve price deadline July 11th - Sale Auction. If needed (multiple bids) takes place in NYC July 14, 2022 Hearing to approve the Sale and any Successful... — read more
So "Business as usual" Got it. Keep driving this titanic straight into that iceberg. We hear you perfectly Mikey R.
A different take to this since it's not data center related but it's where Sungard is at now. No matter which private equity firm buys the chopped up pieces of SgAS' BU's next month, you can expect the same story to follow. Truly a sad story of what... — read more
There were some rumors about possible layoffs this week, has there been any more info on that?
Everytime someone airs their grievances someone on here comes on and says...you don't like it here...get another job. Guys this board was made for employee grievances...DEAL WITH IT! LOL.
Things that should be fairly simple to execute, require a lot of effort here and take a lot more time, because this company is a total mess. Have you ever worked in a company where disorganization causes unnecessary stress and frustration?
No law, no entitlement or anything that they have to pay severance if people get laid off. In the US its just a nice gesture. The company has no money to pay severance and a buyer, if they get one, will just terminate people since the business model... — read more
The standards are lower than ever. We recently got a new colleague who is not nearly enough competent for his role. If that role hadn't been performed by a top expert before, it might not have looked so strange. Has Sungard become so desperate... — read more
Every day we need to deal with a high attrition rate that leaves us doing more work than ever, poor morale, no respect or loyalty to the employees shown by management, and dozens of more small and big things that make our lives a living he-l. If you... — read more
Last year we had a significant amount of layoffs at this time of the year. I know we can always expect layoffs, but is there any info about when can we expect the layoffs to peak this year? Something tells me the leadership is not going to wait for... — read more
Whoopee! A new product offering! WOW! "Hey KR, this reads just like the Veeam homepage..." NOPE! This is NEW and DIFFERENT! stuffs carrots in cheeks
Let's discuss the possibility. Please consider this to be a 'rumor thread', so take all the info very lightly as it is just 'rumors'
'According to some reports, Daisy Group has signed a deal to acquire the UK arm of Sungard, in a move that would see the company pick up Sungard's former customers, including major banks and other financial... — read more
Someone the other day posted this. Auction to sell the company takes place in NY on July 11th with any bidders required to state whether they will offer future employment to ANY of Sungard’s employees. The answer to that question could be no. So... — read more
Two more of my colleagues left. It's worrying how many people are leaving. Those who are still here are seriously considering other options. Given all this, I don't understand why anyone thinks there could be layoffs? How many of your colleagues... — read more
Unfortunately most of the best and brightest that SGAS had to offer have already left. The few good folks that are now are carrying the weight of the remaining mediocre staff. If you are among the best and brightest ya probably better get out there... — read more
So how much are we getting?? My money is on 3%. If so, it will be my largest increase in about 4 years. However it will still result in 5% pay cut based on the current inflation numbers.
In the UK we are told its business as usual. Is it? Are we in a sinking ship?
I've heard somebody mention possible cuts in May, is this true?
"Digital Realty has posted an announcement outlining the potential impact Sungard's situation could have on its financials. While it didn't name the company explicitly, Digital Realty recently noted 'a privately held IT service provider' declared... — read more
Hello UK compadres, it's been a month since SG UK went into administration. Your North American team is genuinely wondering how are you all are? Hope that things turn for the best for ya'll.
Could this company somehow miraculously get back on track again?
“Officially, Sungard describes the decision as taking action to strengthen its operating cost structure for future success, which is an interesting way to spin bankruptcy. A Chapter 11 filing in the U.S. allows for a corporation to reorganize assets... — read more
There is no doubt that the company won't be able to retain existing customers in this way. But leadership doesn’t seem to care about employees or customers. Maybe because of their arrogance, they don't realize that customers are more dissatisfied... — read more
"If you don't like it, leave" - excellent advice, JP. Message received.
The blame is always on the employees. It's the sales fault,,,, it's the marketing fault,,,, leadership itself is never wrong, although the current situation is a direct consequence of their specific decisions. In addition, they seem to have always... — read more
https://siliconangle.com/2022/04/11/cloud-services-provider-sungard-files-chapter-11-bankruptcy/ Cloud services provider Sungard Availability Services LP has filed for Chapter 11 bankruptcy some three years after settling a previous Chapter 11... — read more