Thread regarding Fidelity National Information Services Inc. layoffs

WARN acts are only for certain states, such as Atlanta.

@146 warm notices are not required when paying severance. That’s how they’re getting around this.

I was told I had to let anyone with less than 9 direct reports were being targeting.

Any why are we not seeing any warn acts, FED says 100 or more?

I heard the next layoff on 9/3 for Director and above was only added after the last earnings call in direct response to SF laying into her directs for the results. Anyone else hear this? Also heard she refused any accountability. So it seems like these next layoffs are very emotionally charged. How unprofessional to keep doing this. What's the definition of insanity? Doing the same thing over and over and expecting different results. Cuts alone aren't fixing the company. The market isn't buying it - AT ALL. They can see that there isn't enough revenue coming in. So why is this still happening? When is the board going to step in? So many peoples livelihoods are being ruined and FIS has some truly talented folks. Sad to see.

@q0 there is power in a union...

Isn’t it ironic don’t ya think. They are gonna do a rif right after Labor Day in the US

So what about these reiculous portfolio managers they just inserted, for example in Digital. I certainly hope they would be let go before a Director with banking experience. Keeping a portfolio manager/senior director with zero banking knowledge makes no sense to anyone. Our Org is scared to death of what is going to happen under this new portfolio senior director. And what will our banking clients think about someone having zero banking knowledge leading us? This person can't even use the right terminology because she doesn't understand our industry. That's embarrassing and shameful. What is FIS doing???!!!???

Yes- company wide. It will impact Capital Markets too.

@kx do you have information if that applies to capital markets as well? Other people mentioned this one will be company wide

@ht as a sr director, I can attest to this. Unfortunately, they are about to layoff a bunch of D, SD, VP, SVPs and I honestly have no idea what the workload is going to look like after this.

In my org, they laid off a ton of people below director level last year. The directors in the org do pretty much all the work now, with VP and SVP pushing paper and sitting in meetings. No doubt they’ll fire directors over other levels to protect themselves but who is going to do the work? Insanity.

I've been wondering how a vp or svp is supposed to manage a bunch of individual contributors. I assume the new immediate feedback mechanism instead of yearly reviews might give them some idea of how well we are liked by others. But some svp is going to have to keep track of a heck of a lot of projects and initiatives.

Less than 5 dr’s means immediate shortlisting

Yeah, on 9/3 I was told I need to let four directors go and give them notice that day. I had no say in the decision, and the work will still be there with no one to handle it. The names were picked by my boss and their manager, with Bob and Stephanie calling the shots. My boss said they were given a quota for how many directors they can keep and had to make some tough calls, since their own jobs and bonuses are on the line too.

I don’t know, but it lines up with what I’ve heard before i got sh-t canned. The plan is to reduce the number of directors or higher. I hear they want to structure the org so all directors/vps need to have a certain number of direct reports. Directors with small teams or zero direct reports are being targeted.