Thread regarding Sungard Availability Services layoffs

Is this the end for SGaS UK?

In the UK we are told its business as usual. Is it? Are we in a sinking ship?

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Post ID: @OP+1gD048HO

6 replies (most recent on top)

I worked for Sungard UK a while ago now and got out as I saw this coming a long way off.

The Company's strategy was always to sell it off, I know this as a fact, unfortunately no one would buy the company with declining revenues and a large loan repayment due to crystallise.

This is why it has handed over to the creditors awhile ago, who are mainly the investors (ie. people pension funds), who sought to recoup their losses by attempting to turn around the company.

This all now looks very unlikely, unless a big company comes in and integrates Sungard into it's own, then it's going into receivership.

The US parent company didn't provide any support to the UK, which is an indicator of their current financial position.

It's people jobs and lives at state here and, If you are still at Sungard, best look for another Job whist the market is buoyant, as I don't see any survival packages which will protect jobs.

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Post ID: @9rke+1gD048HO

I worked for Sungard UK a while ago now and got out as I saw this coming a long way off.

The Company's strategy was always to sell it off, I know this as a fact, unfortunately no one would buy the company with declining revenues and a large loan repayment due to crystallise.

This is why it has handed over to the creditors awhile ago, who are mainly the investors (ie. people pension funds), who sought to recoup their losses by attempting to turn around the company.

This all now looks very unlikely, unless a big company comes in and integrates Sungard into it's own, then it's going into receivership.

The US parent company didn't provide any support to the UK, which is an indicator of their current financial position.

It's people jobs and lives at state here and, If you are still at Sungard, best look for another Job whist the market is buoyant, as I don't see any survival packages which will protect jobs.

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Post ID: @9ndu+1gD048HO

It’s business as usual except we can’t do business with the businesses we usually do business with because our business is not paying our business expenses.

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Post ID: @1ggg+1gD048HO

As already mentioned - The UK arm of the company is in administration, so we are no longer part of Sungard AS. We work for administration company. We have your few millions dollars (as per MR) to keep us going until someone buys us out, once purchased the US will never see that again!

The LT really have messed up on how it works in the UK. Luckily we will never have to deal with the US LT Stup1d heads again.

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Post ID: @1okx+1gD048HO

The company is in administration. The company is no longer in charge of the company.

There's nothing usual about that.

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Post ID: @1evj+1gD048HO

Options.

  1. Denial. Pretend that it’s business as usual (it’s not!) and dream of how multiple bankruptcies will look on your amazing resume.
  2. Depression. Keep working and bust your backside supporting the massive level of work that goes into a bankruptcy. A couple more bankruptcies and you’ll be an ‘industry’ expert!
  3. Anger. No one to get mad at… so keep working really hard so that the LT can get their bonuses, wait for a layoff, then pray for a severance package.
  4. Bargaining. Try to get one of those lucrative retention bonuses or a prepaid consulting gig.
  5. Acceptance. Get your resume updated, get out there and network like crazy, and find a new job.

Your choice. Your life. No reason to me miserable.

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Post ID: @1efp+1gD048HO

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