Thread regarding Sungard Availability Services layoffs

The Auction Sale has been moved to August 1st

If you're at Bryant Park on the 1st, they'll be a magic show in the park at the same time the action sale begins. Hopefully the 'magic show' going on in the office tower above the park doesn't make one's livelihood disappear!

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Post ID: @OP+1hDLpqOz

17 replies (most recent on top)

Cancelled at the last minute. Damn! Guess no one was fighting over the scraps after all.

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Post ID: @maht+1hDLpqOz

@ibcx+1hDLpqOz This is fitting, as I tend to think of LT as Klingons - combative, concerned only with themselves, and desperately trying to recapture their former glory. Minus KR the Pakled, of course.

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Post ID: @jwfi+1hDLpqOz

The 1st is also movie night in the park so if you're still around after the fire sale, you can enjoy a picnic on the park green starting at 5:00pm and then at 8:00pm enjoy Star Trek - First Contact on the lawn.

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Post ID: @ibcx+1hDLpqOz

@hsws+1hDLpqOz

When the vulture capitalists get control of your company (like was done at the end of the first filing), this is the end result.

You about summed the whole worth of the company at this stage.

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Post ID: @imuf+1hDLpqOz

SGAS sold for a case of beer and a bag of Cheetos.

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Post ID: @hsws+1hDLpqOz

Does anyone want to guess on a potential buyer?

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Post ID: @2xlj+1hDLpqOz

Are ppl seriously applying to the open positions that sungardas has listed on their careers page?!!

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Post ID: @2zpb+1hDLpqOz

@2ocv+1hDLpqOz - Wouldn't assume that at all.

There have been a flurry of filings in this case (approaching 500 entries in the docket so far) including a large number of objections, and cure objections and the like, and no doubt it takes time to field them all. Appears the sale hearing will be a sort of last hurrah for most of that activity and that all such objections will be adjourned on that date (even though the court will still "hear" them after that date).

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Post ID: @2dwt+1hDLpqOz

So, I guess there were not enough potential suitors (if any), so the date got pushed out?

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Post ID: @2ocv+1hDLpqOz

August 1st - Auction Sale - Manhattan
August 2nd - Deadline for objections to the identity of the successful bidder(s)
August 3rd - Sale Hearing - Texas

The powers that be will know who is buying what on the 3rd.

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Post ID: @1fle+1hDLpqOz

Can’t believe people are actually sticking around … you will live a much better life when you don’t have to wake up every day wondering if your time has come … the only thing sungard is good at is layoffs

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Post ID: @1cfr+1hDLpqOz

SG is good at executing mass layoffs this must be a real negotiation of who will take this and that dump of an asset.

The LT is hand picking their favorites who will survive the blood bath.

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Post ID: @axx+1hDLpqOz

@vkw+1hDLpqOz - No doubt, and they should.

Can imagine the frustration feeling like any work efforts being put in now could be upended by people/companies you don't know, and they don't know you - so even if you're bought by someone/company with the intention to keep some people, it's like you have start anew to convince them that you're worthy of your position (even if you've been there for years). Perhaps even more so if you're not one of the few that were selected for retention bonuses.

That effort is likely better served convincing a brand new employer you're a great candidate for a better role, with better compensation, with a company in a better position (not one appearing to be going bust on both sides of the planet).

There are no doubt a ton of highly experienced people at SG that have a lot to offer, but it will be tougher for them to do so when they're posting on LinkedIn that they were let go (if, and when that happens). You will join a crowded lot with layoffs that are happening now for other reasons.

Taking action to protect yourself is not without risk. Standing still and hoping for the best (in this given situation) is fraught with even more.

Standing still is not a safe bet. You have an extra three weeks. Use it to worry what might happen or choose to be proactive.

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Post ID: @dbk+1hDLpqOz

Seriously? There are a lot of ppl wondering what will come of that auction.

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Post ID: @vkw+1hDLpqOz

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