Heard that 3400 long term employees were riffed.
No one was transferred to Cognizant.
Any reason that FIS went for severance route and no transfers to Cognizant?
5 replies (most recent on top)
I heard that cognizant wasn't working. Surprise surprise, when you take away someone's job security and severance they don't like it. Really took an MBA and millions of dollars to figure that one out.
@OP No cognizant this time because it isn’t working. To be honest, more RIFs are because it isn’t working. Cognizant is costing more and slowing (losing) revenue. SF is demanding more reductions so she can tell the street “it’s working” even though it isn’t. Someone at the top should be fired for this Cognizant fiasco, but SF won’t cut her tennis buddy and so the next layers should be working on their resumes.
They probably got their hand slapped by someone since it was just a,way to avoid severance.
I mean, is it really that surprising? Clearly the layoffs are to prove that it's possible to stay productive and profitable with as few employees as possible... Cognizant will need to get by with the transfers they've already gotten.
@OP From where did you get this number? I heard the numbers this time were between 1k and 2k