Thread regarding SS&C Technologies layoffs

So Long...

After 20+ years I am leaving the company. Just like others noted here on this board, I see a lot of experienced people affected - I'd say they went mostly after folks that were compensated well and had long tenure with the company.

This may work in the short term, but will come back to hunt them later.

Makes me sad and empty but I will move on.

Good luck all, some amazing people were let go, it's a big loss...

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Post ID: @OP+13FUepWt

10 replies (most recent on top)

People being laid off move on. It will not be hard to find a better job.

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Post ID: @eijm+13FUepWt

Public companies do frequent layoffs. They will hire then layoff. It is a constant cycle. SS&C is a bit different due do they grow by acquisition rather than by solid company growth. Companies that do acquisitions like SS&C are know as stock manipulators. Their growth is done by acquiring another company that may be suffering then dismantling it.

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Post ID: @bbuo+13FUepWt

Yes, it looks like they went after the higher compensated people. The problem is, most of the higher compensated people let go in this reduction, were key people according to the clients that have not left.

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Post ID: @barj+13FUepWt

"Don't fool yourself into thinking it will be a blessing! The job market is flooded with IT professionals in KC which in turn brought down the wages. Employers know it and are taking full advantage of it. You won't be able to get another job making anywhere near what you were making and prepare yourself for $1,000 a month (your cost) for company provided health insurance. "

BS BS BS BS BS

Stop being such a troll. Yes - it won't be "easy" to get another job. No - the market isn't flooded with IT professionals in KC. Just stop. There are a health amount of good, just as well paying, jobs in KC. Some of the folks may have to retrain. Some may have to take a 5 to 10% cut in pay. Not that big'a deal. It s—s getting laid off without some troll like you talking this sort of c-ap.

To the folks who were let go - Network Reach out to people you used to work with. Get on LinkedIn and market yourself. As a person who left DST not long ago - it's scary, but, I was amazed at the place I ended up. Not all companies are as bad as SS&C. Some, many, actually do REALLY value the staff. As long as you always realize that the company doesn't exist for your benefit, and as long as you do well by the company, it'll do well by you...and as long as the company has that philosophy - I am confident that you'll end up on top. SS&C is not a good place to be and never will be. Feel sorry for the folks left behind, not for yourselves. They're the ones who are really getting screwed right now. Hopefully you have a few months savings, and honestly, the severance (I hear) is pretty generous. Go get a career where you're appreciated. You'll look back on this place, perhaps read the paper when the id–ts who run it finally throw in the towel and sell / fold it, and think "Thank God I don't work there any more. What was I thinking by ever working there one day past the time it was sold."

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Post ID: @2rha+13FUepWt

Don't fool yourself into thinking it will be a blessing! The job market is flooded with IT professionals in KC which in turn brought down the wages. Employers know it and are taking full advantage of it. You won't be able to get another job making anywhere near what you were making and prepare yourself for $1,000 a month (your cost) for company provided health insurance.

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Post ID: @1ypv+13FUepWt

are you saying there are more layoffs coming in may?

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Post ID: @1use+13FUepWt

I'd say they went mostly after folks that were compensated well and had long tenure with the company.
This is what happened in every other lay-off. Nothing new here.

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Post ID: @1ywn+13FUepWt

Keep telling yourself that. There are plenty of people who were let go in 2018 who are still struggling and underemployed.

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Post ID: @1gbj+13FUepWt

At least the people who were laid off this round will get the DST severance package. The ones hit in May wont. So we have that going for us! I wish you well, there is someplace more deserving for us!

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Post ID: @1fgp+13FUepWt

Experienced people have been let go in every lay-off. Did you think you were special?

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Post ID: @hjl+13FUepWt

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