After the worst day working for this company in over 10 years I want to know how many VP's are losing their jobs? I am a 'lucky' one and am staying as an FTE but I feel sick about what has happened today and the spineless way the VP's handled the meeting. The upper management should be ashamed at how they have mismanaged this company. A show of the worst aspects of capitalism was displayed today. Too spineless to make people directly redundant and give them a redundancy package they have earnt from years of services. Forcing them to another company which a quick search shows are morally repugnant and treats employees as disposable assets. How long will it take for the board to step in and make the needed changes at the top? The changes in employee numbers over the last 5 years is shocking. Senior managers; You have broken trust with your employees, you have broken our morale, how long do you think this company will survive when you treat people like this.
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It is management from the top to the bottom - Ferris all the way the sanitation manager.
They spent all this time going in 1800 different directions on the daily,each pushing their own mission, their own pillars, their own everything. Here we are in a make it of fail precipice and what do we get. More stupid mckinsey sh-t to include hiring these posh pieces of sh-t on the inside and then outsourcing everything.
FIS. Here is what happened. You fu---d up. Admit it. Say it out loud. You management on the low level and your management at the exec level and the oversight on the board is the worst the universe has even seen. Every single tom di-k and harry should have been removed. No less. Instead, you paid a company HUNDREDS OF MILLIONS of dollars to tell you to fire everyone. When that wasn't enough you went with their plan a+1. Which is to "partner" with other people where you steal the life that people put into this company (No severance losing tenure, losing pay). You started that with the worst medical coverage from a large company all the way to 401k not matching policies.
You created the biggest failure of a company plainly from simple mismanagement. I await to see all the lawsuits and the impending fold of this company as you have all literally drove this ship into the cent of the earth.
@a8 is that Vincent or Vicente?
Maintaining a title requires a certain number of departments and direct reports. It seems that a reorg plan would have been created in the the last few weeks so that they could justify their position, title and salaries/bonuses. If there have been no announcements, then they all made themselves safe. A luxury that others did not have.
@aa anyone questioning why Stephanie F just purchased 1 million FIS shares…..setting it up for a sale and a big payday for herself.
I was riffed 3 years back. Every time I read about these layoffs, I get upset for the people who give their lives for this company. Too bad we were all forced to ride The Ferris Wheel.
McKinsey Consulting is the CEO of this company. SF is just a voice (bad one at that) with a script. She’s been a failure since selling worldpay to FIS. Then she had to get rid of it and patted self on the back for that. One failure after another. Just look at the stock price failure. This is yet another move to try and save herself. But in the end, she doesn’t care. She will walk away with millions and millions and not think twice about the true failure she is. The leadership knows this, but they just March to the orders of SF and Curly Beatty. They won’t push back. This company is doomed. Find a better employer. They are out there.
Honestly I’d prefer to be rebadged to one of the consulting firms. Culture will be way better, comp and benefits will likely be better as well
Brandy, koushik, Vincent, and Chris.
@OP I feel the exact same way as you, I was one that was kept as a FTE but for how long another 3 months we have another round of layoffs until there are none. I worked for this company for 17 years and I was always so proud to call this my company when I spoke to others. There is something wrong with the leadership in this company, the decisions they have made have been horrible, I cannot believe the board of Directors has allowed Ferris to tank our stock price with her decision making. We were once the mighty and great FIS but now we are just another company trying to survive. Today was a horrible day and I feel bad that I lost several coworkers, they may be going to Cognizant but the only reason is because FIS wants them to go there so they don't have to pay a severance package to them and they will let Cognizant do the dirty work when the time comes. I predict even those that were kept, many will look for other jobs elsewhere because I am sure they don't want to continue to work in an environment that creates so much anxiety daily, not from the job they are doing but by the company they work for. God Bless everyone.
@a3 Koushik Radhakrishnan or "Cow Sh-t" as I refer to him.
@a3 Randy Guy, one of them
@OP did not attend the meeting, who ran it? Names, please, just to memorialize their participation.
Amin! This is truly disappointing..:this is coming from someone with over 20 years of service in the company. I used to be proud to say I worked for FIS, but after today, I no longer want to be part of a company that treats its employees poorly. Enough is enough!