401 employee match to 50% - oh well at least it's not Zero. And for those of you sitting on the sideline asking why we don't leave and cut our losses...would you leave in the current state the economy is in? Besides they said they will revisit these decisions when things start improving...lol but I won't hold my breath...
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The only decent cloud like product they had was ECS and they k–led that because someone at Cloud.com (Openstack) then RedHat (OpenStack).... sold them a pup, each and every CTO in the last 10-15 year has been a failure
On life support and the end is near. Just wondering what is next besides layoffs. I just see nothing good. All negative today we lost more customers in my data center.
Sad.. having worked here and leaving right before the Andy Ds and KRs started taking over, I knew this company was in the toilet. RS and MS were billing 110m mrr when I started. Now my guess is your looking at a third of that.
Billing is declining rapidly. We are trying to compete in a cloud space that is crowded with big hitters and now we are throwing everything we have into an agreement with Dell to salvage our cloud business that was an epic failure with two products in HPC and AWS. Why would a customer want to come to Sungard? And the same person who brought you HPC is now in charge of bringing you the next cloud and he keeps getting promoted. Only at SG.
More labor reductions are the only thing next. There is nowhere else to cut. They can't sell off any of the products because they have no value. Likely more in operations and probably sales (since nothing is being sold). How our product organization gets minimal cuts compared to the other organizations and less frequent is an interesting question.
Everyone's name is on the list to be laid off. Its just a matter of time or if some miracle happens and they don't get to your name if things (unlikely) turn around. If they don't sell this new cloud at historic rates when its launched, there no way to survive for this company.
When they revisit the 401k match it will be to cut it completely ... don’t kid yourself
Our billing rate is declining every month. They are doing nothing to improve the top line. All they can do is to cut and cut expenses. Look for more head count cuts. And I guarantee they will cut older employees who tend to contribute more to the 401k. If the head gets replaced it is with someone younger who they pay less to and who contributes less to the 401k.