Why does DST continue laying off people based on their pay instead of their productivity/knowledge/experience? I keep seeing the same thing happen. They get rid of people who know their jobs inside out and then they have to hire two people to replace them. That even doesn't make any sense from the financial point of view. So why do they keep doing that?
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They did the same thing to me. I was given someone else’s responsibilities after they were fired. I received no training and was told yo figure it out. When my time came to be ejected, they did the same to the next person with no turn over it training, just figure it out. There is no telling how much pain was caused for customers because of that.
The last few companies I have worked for have been terrible to their customers snd employees.
One would have thought health division would have been sold off already, given customer departures, etc. remember that SSC has a $6B debt line item to pay off- being delivered by dst and other areas as well. What’s funny is that if you are an employee getting small raises, etc, then see $1B stock buyback program, debt payments and massive bonuses, etc. doesn’t it sort of say a lot…
In this end even with the stock price being at it’s all time high, ssnc is a 4-5x multiple of revenue company- it’s a bpo/services play and that’s about it. Most tech companies are 10-40x in stock value- even when losing money, where SSC makes it. It’s just really not a technology company at all.
Wonder how the private cloud strategy is moving along… piece of junk.
It’s not about building an effective organization. It’s about smoke and mirrors to fool the next buyer.
I thought this was the game plan all along, but now 4 years in, I’m wondering if/how they can pull it off. Maybe if the margins are good enough, users won’t care the customers are pi---d and the reputation in the market place is sh$t. Perhaps the recently announced pharmacy cloud platform is the bait to sell off pharmacy.
Will there be similar initiatives for mutual funds, retirement, health, and awd?
It’s about making the numbers look unrealistically good long enough to dismember and sell off the corpse of DST.
The old management team did it, now SS&C is doing the same thing. It’s not about building an effective organization. It’s about smoke and mirrors to fool the next buyer.
I’ve seen this as well. I think it’s sign of how bad management is and has been. Some managers know what their people are doing, but if it’s a new manager or Ssnc installed executive, they don’t know, and don’t take the time to learn.