Thread regarding SS&C Technologies layoffs

200 More Layoffs in IT coming for Pharmacy and Health Solutions!

Yup $200m and 200 people in IT are about to get RIF’d. They’ll likely wait until after earnings release as Billy boy and Rahul don’t like to face the analysts with bad news.

And the best part is all the accolades they are getting. 😳
Isn’t it great that Bill Stone gets CEO of the year from Ceorater.com! https://www.ceorater.com/ceo/58/58/Bill-Stone Whatever that site is lol!

Isn’t it ironic that SS&C gets placed As Fortunes 10th fastest growing company all in the backs of people that they’ve cut to hit their ebitda goals. It wouldn’t be too bad if they actually improved their products and services along the way. This fin tech and wanna be healthcare company will eventually run out of runway on this approach and crash.

by Senior Exec
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Post ID: @OP+13a6pael
Comment! It's anonymous!

15 replies (most recent on top)

Financial company stocks plunging because of coronavirus threatening the supply chain. US government stepping up which means an influx of money into the healthcare sector in one form or another. What does SS&C do? Downsizes its health care sector, horrible decision making at best.

by Anonymous
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Post ID: @zyok+13a6pael

Happening today in HealthSolutions.

by Anonymous
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Post ID: @vtsu+13a6pael

And there you have it....it's happened. UK IT team just told there are to be significant staff cuts to help line Billy boys pockets!!

by Chernobyl
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Post ID: @vfqb+13a6pael

Beat estimated EPS last quarter by 11 cents. If the axe is reward for a good quarter those axed will be working for better companies within 3 months. If all this turns out to be rubbish the credibility of info on this site will officially reach zero.

by Anonymous
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Post ID: @vjkk+13a6pael

UK layoffs starting 24/25 Feb!

by Chernobyl
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Post ID: @usom+13a6pael

Sign me up - 200 people making $1M per year?!

by Anonymous
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Post ID: @upls+13a6pael

Feburary 24th is the date

by S---s
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Post ID: @oamp+13a6pael

It got moved again. February 24th is now the rumor, but, could go further out. Appears they didn't like the first cut of the list. It WILL happen though. Say bye if you're a low performer or don't have transferrable skills in the new tech stack they want to go to.

by Anonymous
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Post ID: @jhon+13a6pael

So far all is quiet on the front lines, maybe layoffs Friday? But so far nothing here.

by Anonymous
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Post ID: @itlz+13a6pael

No layoffs today, was anticipating but all is quiet at HealtH Solutions today.

by Anonymous
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Post ID: @huog+13a6pael

Fear not SS&C Health for you are held in strong hand's of great ex-ibm leadership.

https://www.aarp.org/work/working-at-50-plus/info-2019/ibm-age-discrimination-case.html

by Anonymous
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Post ID: @hbeh+13a6pael

FYI there is over 550 IT in both organizations combined. And why would these layoffs need to make sense? Just like Health Solutions going through 4 CEOs in 4 years? Or having someone run Product who’s a developer by background or having a CIO for SS&C health who has no healthcare experience? It’s about the bottom line. 40% ebidta.

by Anonymous
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Post ID: @fhmv+13a6pael

Hearing the same for the UK too. W/c 10th.

by Anonymous
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Post ID: @dwiv+13a6pael

I hear the same as SS&C Health, DST Pharmacy, formerly Argus, is losing clients left and right. The latest word for D-Day is Feb. 10 right around earnings release. i.e. they don't need you, outsourcing is the goal.

by Tear down the walls, Mr. Gorbachev
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Post ID: @7hhq+13a6pael

These numbers don’t make sense. There are barely 200 IT people between Health and Pharmacy Solutions.

by Anonymous
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Post ID: @4pyz+13a6pael

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