Thread regarding DST Systems layoffs

Has DST ever rewarded it staff like this?

10/10/2021 - It was a scene full of ecstatic smiles, dropped jaws and delirious hugs last week when Spanx founder and CEO Sara Blakely surprised ALL her thousands of employees with first-class plane tickets to anywhere in the world and $10,000 in spending money after the company was valued at $1.2 billion in a deal with private equity firm Blackstone.

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| 1704 views | | 8 replies (last )
Post ID: @OP+1dxzPY3I

8 replies (most recent on top)

The only thing DST ever gave anyone was a free night at WoF, and that stopped after the first layoff in 2008, when McDonnell and the Hooleys started looting the company for themselves.

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Post ID: @Igof+1dxzPY3I

After I turned down other nice jobs to join DST Systems, and found the DST recruiters had lied to me about the abusive and thankless work environment, well I just started letting mistakes happen......by themselves. If you do nothing, things fall apart. It cost DST alot more than if they would have treated me right.

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Post ID: @6vuy+1dxzPY3I

DST / SSC is a publicly held company.

The Spanx owner received $1.2 billion from the sale of her privately held company and chose to substantially give back to her employees. Lets assume she still held 25% of the company - she then received $300M when she sold it . So she gave back about 5% of her net profit from the sale (750 employees x $20,000 average value is $15,000,000)

Thus this poster is somewhat misleading the reader. First, she did not need to have stock holders (Board of Directors) approve any material non-salary compensation which is standard in large companies with stock holders. Second, $300M is more than any CEO makes in a year.

I am not defending SSC / DST's poor compensation practices. Just pointing out you cannot mix apples and oranges when making a fruit pie.

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Post ID: @1grt+1dxzPY3I

All that stock buy back money could be used for employee bonuses. Honestly, they should not have issued so many shares of stock to begin with. They only do it so they can buy it back and raise the price - triggering big reward bonuses for themselves

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Post ID: @1llg+1dxzPY3I

Nope, never happen. But Bill S. should get a great bonus. Notice every quarter the company is buying back more and more stock... hmm who does that help... forget your raise, bonus, etc.

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Post ID: @1agu+1dxzPY3I

I had a 4 year college degree in Business and part of my Master's degree was finished when I worked at DST. I received a $25 Plaza gift certificate. Thats all.

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Post ID: @1jid+1dxzPY3I

Lol yeah right they'd rather suck you dry

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Post ID: @ekz+1dxzPY3I

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