Thread regarding Sungard Availability Services layoffs

The Industry Analysts are weighing in

“Officially, Sungard describes the decision as taking action to strengthen its operating cost structure for future success, which is an interesting way to spin bankruptcy. A Chapter 11 filing in the U.S. allows for a corporation to reorganize assets and debts, but it’s typically one taken by a company with serious financial problems. That this is the second time Sungard has pursued Chapter 11 in recent years is not indicative of a company with solid fundamentals.”

7+ years of declining revenues, customer losses, cutting projects, constant layoffs, no innovation, high rents and blame the utilities. Not much left to strengthen. lots of spin.

Feel bad for the good folks that fall for the sound bites.

Now… when is that next round of layoffs or will this be another round of benefit cuts? There’s always not paying the attorneys (oops, the attorneys always get paid first).

Will a chapter 7 be #3?

by
| 1663 views | | 2 replies (last )
Post ID: @OP+1gjlsfV9

2 replies (most recent on top)

Correction…

Revenue has been decreasing ever since 2008-09 when RS hotsite faced pricing erosion. Unbelievable this company is even still in existence

by
|
Post ID: @1bso+1gjlsfV9

Don't like it? LEAVE.

But first, a little update on the ever-hapless executive-turned-consultant as they struggle to depart their 6500sq. ft. McMansion for a measly 3-story brownstone in a bustling urban center with their trophy spouse. Poor thing never catches a break, please keep them in your thoughts and prayers.

[Insert swear words for effect]

by
|
Post ID: @epn+1gjlsfV9

Post a reply

: