My SVP has said next week on Tuesday is expected to be the largest rif action
Can anybody confirm this?
24 replies (most recent on top)
@by yeah that sounds unbelievable. Who is going to do the job to keep the products and services up? The company will go down at some point. Looks like trolling
@bv 20k by YE? So they're gonna cut more than 50% of their workforce?
@bv So only US and India would be left?
@bc I think this makes sense as my SVP said that FIS is targeting HC of 20k till YE and closing majority of EMEA locations
@bc Is that information somehow confirmed? That is a huge number if true.
Possibly 10k to be riffed
@b7 hilarious our so called C-suit leaders..they are so scared that they don't even organize townhall and all...
@b1 Found the C-suite 😂 “Clarity” has been their buzzword for the past year
@b2 ask your leaders and hope you will get an answer
@b1 Then what was rebadging all about if not saving that extra penny ?
@b0 who told you that rebadging was to save severance pay. No one knows the whole picture and everyone playing guessing game here. We will have some clarity after this round...
@aw All I am saying is that why would they not replicate what happened in March. The whole idea of rebadging was to save severance pay. With a RIF through layoff at a mass scale would imply keeping a separate budget for severance pay alone.
@av I did not say this would mirror what happened in March. This action is intended to reduce operating costs, and everything I’ve been told indicates that it is a RIF, not a rebadging effort. Severance expenses are accounted for under GAAP and are not considered part of the bottom-line operating results.
@as So you are claiming no Rebadging this time ? All rifs ? So FIS is okay with mass severance pay ? Does not align with what happened in March.
Waiting, wanting, praying for a RIF. Take me. Here I am.
Yes, that’s correct. My EVP has confirmed that, due to the number of RIFs involved (not rebadging), notifications will be conducted over several days starting on 6/22.
@ac Banking for sure will be impacted. Also looking at the size of PS and techdev value-stream FIS is not done yet.
@af no impact to TSYS guys..they are safe for now..
is this going to impact the FIS Total Issuing Solutions team members (legacy TSYS)? Can someone please, please, please confirm this 🙏🏽
Any News ON Kordoba PM or tech roles?
Does anyone know which areas? - Banking or Capital Markets or Treasury/Risk?
And whether this PS, Tech/Product, PMs?
Also are we talking straight rift/reduction or are we possibly talking about being shifted over to a partner supplier (cognizant, beeline, etc)?
Is it better to know or not to know, since no one knows exactly who or those who do are not telling. Does it just ratchet up the tension? Can't decide.
Yes