This thread is for info about potential DST Systems layoffs? Any chatter, news or rumors?
10 replies (most recent on top)
After the way DST treated me for so long, I'm actually enjoying watching it crumble.
The remainder of what was DST will slowly die over time. Natural employee attrition with the lack of job stability accompanied with high inflation rates will accelerate this fall. Are you gonna work harder each year for less money while people are leaving or there is a threat of a layoff?
DST "south" A.K.A. Euronet, ticker symbol EEFT has crashed in price! It was about $160, not $103. They lost their bid to buy Moneygram, it was won by an Alibaba related holding. yes the Chinese bought Moneygram and now they will beat the pants off EEFT. If you dont know, some of DST's top leaders from the 1980s and 1990s went to lead and direct EEFT and have sizeable holdings in it. They founder Mike Brown was a Rockhurst boy and friend of Tom's. So they are losing money fast!
Yes Euronet has Tom M and Jeanette S. as board members. Its an electronics payment company. It truly is DST "south". Tom's new "baby".
Well the new "DST South", a company called Euronet Worldwide, Inc., with Tom and Jeanette as major leaders, has had its stock drop from $164 to $109 since March. Wonder if they will layoff too. Look at EEFT's board of directors etc....its DST south (based in Leawood).
I hear that dst managers are unable to find work. Despite job openings, companies will not hire them. Their reputation proceeds them.
Had there been OTHER management at the top not named "TOMs", then DST could have survived and been a good workplace. But its taken the worse possible turn at every junction in the road for decades. WHO ignored SUBACCOUNTING? That cost millions and millions in lost revenue - did he get big bonuses after that - YES!
Why worry about layoffs? A huge mass of DST staff left in 1990 to 2000 for Sprint so they could make ALOT more money, then they left for Cerner, then H&R Block, then Blue Cross, and so really its going to die from just people leaving........DST is finished and Kansas City certainly will NOT miss it. Its kinda like Hudson Oil company (Mary Hudson), Utilicorp / Aquila (the green brothers), TWA, Applebees,........just another mismanaged company that finally Karma caught up with. I am surprised a huge class action lawsuit has not be filed by all the women se-----y harrassed at DST over the years!
Another client leaving health services early next uear
The plans are of course to continue layoffs until there is no presence of DST in the Kansas City area. We all know that. The buildings, taxes, are a huge drain on the firm. DST's software was purchased - the new owners are NOT interested in renovated buildings in the Kansas City Missouri area. They didnt buy DST for its aging and drab buildings. The East Coast is where its all happening. I bet in 10 years most people in Kansas City won't even know what "DST" was. Its gone the way of the buggy whip. And butter churn.