I heard it' offshore only. So if you suddenly have a pop up meeting with your manager tomorrow, my condolences. Kind of like from Goodfellas - "that's how it happens, they come to you as friends, people you knew your whole life"
Onshore will happen mid July
@sd makes sense. Capital Markets and Digital Banking Solutions are slowly going to be blended together and CRO will position it as making a more well rounded/efficient cand less siloed Salesforce. All the while reducing overall headcount
Reduces expenses and makes the bottom line look better than it really is. Net new business in Banking Solutions is flat. Capital Markets is bringing in new money.
Next round will include sales and sales leadership. All based on span of control/ direct reports. Anyone not managing at least 7 directs will be merged or moved out.
Unfortunate to see experience pushed out and replaced with Accenture and McK youth that has never been outdoors to see the sunshine.
Are conversations continuing today or are we done for this round? (I realize there is another round in July and again in September).
@eq “sometimes it’s fun to email them to see where their email goes..” TF!. I’m sure it won’t seem so fun when it’s your email that people are testing that on..
@eq Some of the people let go today were terminated immediately. I assume due to their systems or sensitive information access. Others were told their last day would be July 9th. (which makes little sense to me). I highly doubt there will be any top down communications. Potentially handled case by case within each org/department.
Yep knew 2 directors gone today
@ep sometimes it's fun to email them to see how I. T. handled their status. Auto reply no longer with the company, forwarding to another future casualty or just goes nowhere
@eh except when there was somebody let go in my department earlier this year and we had a meeting about it with the SVP I have never seen a communication about people being let go and FIS. You just see their status on teams changed to a different color.
@eb Is there going to be any communication on this since these are high level people and not just associates? Some transparency would be nice
@e8 I learned of 12 onshore names this afternoon, all from various groups and with various titles. Director, Sr. Director, VP, etc...
Got word of about 10 people onshore that were laid off today.
@e0 it's starting to be quite concerning working here... didn't feel this volatile years ago.
@dz ok, that’s likely too. I’m speaking from the targets I saw.
@dx not necessarily. I know of 2 people we lost today that were not Directors or VPs.
@dx honestly there are 2 vp level types stuck in 2008. Hopefully they are put out to pasture. I think they are the reason for being stuck with MS Dynamics.
These cuts are targeting Director and VP levels.
Not just Offshore... we're losing Onshore people, too, today.
Do we know if the layoffs will continue through the rest of the week?
@dd
Was just told my on shore position was eliminated and access was immediately cut off.
TPO layoffs today
@da CIO
@d9 Sorry to hear. Assuming the package was good given your tenure. What org/dept if you do not mind sharing?
30 year employee. Director level. Got let go today. I’m relieved.
Is there any confirmation that conversations are being had today?
I know it’s wrong but I sometimes almost wish I was in the next round of RIFs. At this point it almost feels as if they’d be doing me a favor.
@OP I hear there will be a multitude of cuts tomorrow, onshore. We will see
@OP are these dev ops jobs or across the board company-wide?