They just notified all managers to be prepared for blowback because there will be no Merit nor Cost-of-Living pay increases this year again. They are actively trying to do everything they can to get people to quit so that they don't have to pay severance.
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No merit increases, but let's talk about your performance and how you can do better. Lol.
"I joined FIS last spring with high hopes, but I have seen too many red flags since the beginning of the year. 1. Lose PTO is you quit, 2. no merit, 3.cut stock plan match. 4.Layoffs and 5. No clear direction from top leadership."
Yes, me too. Thanks to this forum as well as multiple news sites, I'm fully ahead of this imbroglio. I've been double-dipping with another employer since late Feb to the tune of $2,800 (net, not gross) so far. I'll begin triple-dipping with a Top10 bank starting Monday.
When you toy with people's lives, this is what you get. Half-committed drones with one foot out the door, pulling an easy paycheck while waiting for the inevitable, and making 10K-20K in free money while doing it.
I joined FIS last spring with high hopes, but I have seen too many red flags since the beginning of the year. 1. Lose PTO is you quit, 2. no merit, 3.cut stock plan match. 4.Layoffs and 5. No clear direction from top leadership. RTO is also anyone’s guess in the future, which going back in office would be pay cut. I have seen enough. My group , manager and co workers are the best but I do not have confidence in the company’s leadership and see a long road ahead before I see any rewards for working hard. The job market is still strong and I have worked hard while at home. I received a call from a former employer the day before the email, when I saw the email, I accepted the interview and he he knows dedicated hard workers are hard to find and he is willing to match my vacation time, more $, and flexibility if needed for family. Most importantly clear expectations and job security. I wish it were different but FIS is looking out for shareholders not us.
People work from home have it easy?? Where are you getting your delusion. People who work from home get taken advantage of. Whether in the office, or at home it can be a total toxic work environment. Why would anyone want to commute when cost of everything is sky high. How about thinking that working remotely is more economical for the average family? Yes People will quit for other companies. With cost of living climbing, food prices climbing, but big companies like this one could care less. Next time think before making an ignorant comment like that
The problem is why would people quit when the employees barely do any work and are at home ALL day. They are doing other household chores instead of work. So even without a merit increase and raise employees won't leave because they have it "easy" compared to other companies where there employees are working there tails off.
Happy we still have a job? Get serious. They held us over for 3 years now with the 1st year of promising they had our back and would get us next year. Next year was, covid has hurt us. This year was, no merit pay or raises.
Happy we still have a job. Ha!
Check out https://www.secform4.com/insider-trading/1136893.htm and see how well those people not taking care of the employees like they said they would are pocketing those lovely shares.
Be happy you still have a job. Priceless
We all should be happy we have a job....still. With more layoffs in the horizon there are more things to worry about then raise/bonus. This company has gone down the sh*thole.
Post from TheLayoff.com
The Fiserv HR trolls have come over here now.
Total lies.
Merit will be effective April 1 and no plan to cut anything.
How about protecting the email , can't forward it, screen shot it.
No raises and come into the office is really giving people a pay loss. Inflation is crazy and not giving employee a little increase is pretty bad
Sending out the no-raise email at 4:30 pm east coast time on a Friday afternoon -- not exactly employee relations 101 -- was a nice, thoughtful, and extra warm and fuzzy (out of) touch.
The sad irony is that the email was sent on employee appreciation day 😂
stop ALL executive bonuses period.
stop expecting workers to do more than 40 hours. no more 60 hour weeks.
stop hiring executives who "have great conversations" for a year, and then leave.
Again. they have run this company to the ground. They only have enough money for their raises and bonuses. Good luck on the job searches.
When you lay people off, you have the ability to target the underperformers. But encouraging voluntary attrition biases towards losing the overperformers. The level of effort just to save a few dollars in the short term while mortgaging the long term health of the company is either a failure of fiduciary duty to shareholders, or it is a red flag that the company is in dire enough financial state that it may be at risk of not being able to meet its financial commitments.
The company's current Altman Z-Score of -0.37 gives a Macroaxis Probability of Bankruptcy of 42% in the next 24 months.
Also cutting ESPP match % and they also stopped paying out accrued vacation. It’s all to increase voluntary attrition. Real question is why they are paying out any 2022 bonuses.