Thread regarding SS&C Technologies layoffs

Getting rid of older employees

Most of the people I know who were laid off yesterday are in their fifties and have been here for decades. Why they would want to get rid of so much institutional knowledge and experience at once is a mystery to me. Yes, they can save a few bucks because they make more than the newer employees, but what they will take with them is invaluable. This was a huge mistake for the future of the company.

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Post ID: @OP+1hnSuTLh

7 replies (most recent on top)

I got out of there 5 years ago. Before the multiple rounds of layoffs. Biggest problem is that they haven't been able to develop any new business. The clients that remain are looking to migrate to a new system.

I now work for one of their competitors. We are signing new business left and right.

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Post ID: @eedh+1hnSuTLh

They have been following the lead of IBM and other companies that are tossing their older workers. They tossed me for that simple reason and I had not been there long term. I should be angry but I also know how awful the management is there since I worked with them, I heard the conversations. I am blessed to not be working for them now and I pray for those that still do.

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Post ID: @3okc+1hnSuTLh

Agreed. it hurts the company's reputation to get rid of an employee with established relationship and trust with our clients. These employees help strengthen the company. Don't get rid of them. layoff people with "repeated" performance write ups and those that don't show up for work. get rid of those that don't want to be here. i am afraid to even try to move up in the company given the fear of layoffs. Seriously it's like a yearly thing here.

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Post ID: @mxh+1hnSuTLh

No discussion with Managers or Supervisors regarding the work that is being done or the value of one employee vs another. And not a care about the Clients that are affected. Losing an experienced employee here and there, based on God knows what, without any input and probably losing a paying Client is no big deal I guess.

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Post ID: @gyb+1hnSuTLh

Main reason i will not apply for a job beyond entry level. Long term employees that make more get laid off first especially if your department is overstaffed or have enough people to take up more slack. Everyone i know that just got laid off been here well over 20 years. When you lose long term employees you lose out in training. we all know there are rules to our job that's not in writing and we lose that extra knowledge when seasoned employees are let go not to mention our clients have relationships with these people that helps retain them as customers. Thus we lose the trust our customers and clients have in us. This equals loss of business. What makes me mad is the people doing the layoffs never told the peoples managers in advance. Even they were left in the dark

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Post ID: @ulq+1hnSuTLh

Unless you work in the call center. I been here almost 20 years and found out i make pretty much the same as a new hire so no real company savings if I am ever laid off. Pathetic and insulting. We don't get the same treatment, They look for reasons to fire us so they don't need to pay severance.

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Post ID: @aqp+1hnSuTLh

It's not about saving a few bucks. It's about reducing the payroll by significant amounts, and that's the most efficient way to do it. It's called business. And for all the tales of woe, this is the way businesses have done it for decades upon decades. Good businesses make it through all the doom-saying, and bad ones don't. Period. Neither emotions nor misplaced loyalty will change it.

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Post ID: @yye+1hnSuTLh

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