For those who were laid off, condolences. Don't sign anything without examining it carefully or, if you think appropriate, have an attorney review it. For those with long careers, please invoke the Rule of 70 when discussing your severance. It has to do with compensating tenured employees close to retirement age. Whether they honor it or not, it will give them something to consider if it keeps coming up. Be kind to yourselves. When reviewing your resume, make sure that it is in an ATS friendly format, this will make sure that any AI tools being used to filter resumes will see it and forward it for review. Apply for unemployment too. Remember, none of this was your fault. It will continue to happen to those still left on the field. It ain't over.
10 replies (most recent on top)
@dh forgive me, are you saying that Bob T and co are authors of posts here? I haven't seen everything, did they post under their names? It's a real question. In my opinion, their opportunity to address bad morale and the tidal wave of bad feeling is long past. They have said in answers to Town Hall questions, that they believe that functions can be performed by anyone, at any location. They do not value the relationships built by employees with outside vendors, clients, etc. Yesterday's actions did not help. If the C suite and other senior leaders took a drastic pay cut and gave up their bonuses to keep staff on, THAT would would show solidarity. It is not an intention to demean your statement at all, just a real question. Anything that they read here would not move them. Nothing is going to get between them and their executive compensation package. If this story were published and the shareholders read it, their hair would catch fire.
@cg Looks like Bob T and co realized they better respond to the avalanche of bad morale in the employees and the posts here.
not sure insulting them is the right way of doing it
@cg with that reading comprehension, it's is surprising that you received a raise. How do you make it through the day? These are layoffs NOT connected to performance. These are staff reductions-in-force to save money due to the poor performance of the company directly related to terrible leadership from the C suite. Cling to that life raft, you are going to be adrift very soon.
@b6 hmm, it is a curiosity how YOU ended up here, isn't it? You Googled, "I got a raise and bonus from FIS" and landed here? Not hardly, bro. It's easy to imagine you bloviating in meetings; using up all the oxygen in the room while adding zero value.
@bg You are correct that FIS does not have a Rule of 70 in the handbook or policies. It does however have both a Rule of 65 and Rule of 75, but it only applies to the "FIS Qualified Retirement Program".
The FIS Rule of 65 allows for Early Retirement so long as you have at least 5 years of service, are at least 55yo and service+age >= 65.
The FIS Rule of 75 allows for Full Retirement so long as you have at least 15 years of service, are at least 60yo and service+age >= 75.
If you meet these rules, any unvested FIS Stock you have (whether RSUs, Options, ESPP, etc) will be allowed to vest even after you retire from the company. Early Retirement only gets a pro-rated amount of vestment.
@b6 you sound like one of the many bros that got hired, bc you'll work for scraps just to have a job. And hire all your beach buddies into higher positions.
Rule of 70 doesn't apply. It is not a law and it is not in the employee handbook.
@b7 Beacon is the EAP provider, they arrange three free counseling sessions, in your case as a crisis intervention, do take advantage, you are very angry about something.
@b6 nope, no one said that to you and there were no raises or bonuses yesterday. Your turn is coming.
Everyone in my unit got raises and bonuses. They said something about replacing some antiquated pukes ... must have been the whiners on here.