Last year we had a significant amount of layoffs at this time of the year. I know we can always expect layoffs, but is there any info about when can we expect the layoffs to peak this year? Something tells me the leadership is not going to wait for the summer to end.
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I visit this forum every now and then since I've been gone from SGAS. I always have the same feeling.
Those poor customers.
Do you know how many careers have been wrecked? How many leaders who will forever have their judgement questioned because they fell for the SGAS song and dance and stuck it out with this company? Even worse... can you imagine if anyone came here as a NEW customer over the past 5 or so years! Wooed over by an old friend, perhaps? Well, at least, now you know... That was no kind of friend.
Severance reminds me of Judge Smails to Spaulding in Caddyshack...
'you'll get nothing and like it!'
@1vjr+1gZOt0kp This still make me laugh :)
There is ZERO coming to anyone. Think of it as the last going away gesture for milking the marrow out of a Y2K hotsite business model.
Reality is there is no severance. No law, no entitlement or anything that they have to pay severance if people get laid off. In the US its just a nice gesture. The company has no money to pay severance and a buyer, if they get one, will just terminate people since the business model of products has no value. A buyer will hang onto people for the short term and do something with the customers and finish the terminations. If you are hanging on for severance you need to face reality. SG was giving 1 week per year when they had some money, now that they have none, there is nothing to give.
@2slf+1gZOt0kp Once the new buyer swoops in they don't have to comply with any severance...or any promised merit increases.
Think of it this way - if Sungard starts laying people off and word gets out that they aren't paying any severance EVERYONE who was hoping to get theirs will most definitely jump ship. IMHO I don't think there will be many if any layoffs. They'll probably leave it as is for the new buyers (if they find any) to thin the herd - to keep from having to pay severance. Once the new buyer swoops in they don't have to comply with any severance.
I can't see anyone buying it. What would they be buying, at this point?
@1vjr+1gZOt0kp That was pretty funny!
When the company closes in August.
Hiring temps and consultants to backfill.
I doubt anything will happen prior to any sale or equitization. They are actively recruiting to fill vacated / open positions.