Thread regarding Fidelity National Information Services Inc. layoffs

@by They know how to keep just enough of the older folks around so the numbers look legal on a spreadsheet.

Well I am not sure of the whole company but my team hasn’t received our comp plans yet and that means anything we have sold hasn’t been paid out to us. Something to do with they can’t decide what kind of commission plans they want to give us. Something they have been in discussions for the last 6 months trying to figure it out. We were told July but that is looking weak. I am owed commission and I have bills to pay.

Pretty crazy! Clients will fall off as well.

Initiating layoffs near annual raises is a tactic to get you to not complain when FIS doesn't offer you a raise. similar strategy with extending the compensation cycle to middle of year vs beginning or end. "you should be grateful you even have a job" they will look you to take on the additional work due to layoffs without an increase in pay. notice how they initiate this after they have the meeting of shareholders on June 12, where they voted to approve the generous compensation packages. They got what wanted. And now it's up to the employee to pay for it.

Don’t forget about the deferred 401k match from Jan 1 to now that they no longer have to pay for all these terminated employees because of the ridiculous policy change earlier this year.

Pretty sure about 20% of the company does actual meaningful work while the other 80% sit in meetings all day. Hopefully management bloat is reduced. Would be nice to replace that with people to do actual work, but doubt that will happen.

May be the worst company I have ever worked for. Came over via an acquisition. Was initially very excited on the opportunity. Personal opinions and observations include:

• Incredibly disorganized and overly matrixed.
• Things are always on fire and our client support program is below average.
• Company strategy is impossible to relate to, or connect with, as an employee.
• Many leaders seem to be self-preservationists. Why is this tolerated? Employees have no real avenue to provide feedback upwards.
• No clear process to assess talent, performance, or org maturity growth.
• Executive leadership leads from the back of the room. Part of why the culture is nonexistent and why employees do not connect with company's strategy or mission.

Current employee. I have been seeking a new job since month six. Sincere thoughts out to those who wanted to stay and lost their jobs this week.

Have you been affected by layoffs recently, OP? I was under the impression that the Finance office was hit pretty hard last year with -300 positions outsourced to Accenture and that it would be the end of it. Are more positions being cut and handed over to Accenture right now?

TSYS employee here. A once great company before our CEO sold us out to Global Payments. If I didn't know any better I'd swear I'm reading the GPN section of TheLayoff.com. I've been following the FIS posts since the divestiture was announced.

Looks like we're going from one POS company to another POS company. From what I've been reading over the past couple of months GPN and FIS could be identical twins. Your CEO wanted the TSYS Issuing business for a long time, even wanted to get it from GPN. Now you have us.

The grass sure ain't greener on the other side from what I can see. It would be in your CEO's best interest if she leaves us alone. And treats us nice. I'm in mainframe Tech Support and we keep the ship running. Play games with us and clients like Capital One, Bank of America, Barclay's won't put up with it.

FF is legit. I completed one for a material annual savings. Payout due June 2024. Received partial payment July/August. Remaining portion to be paid Dec 2025 “if still with the company”. This language was only added with the partial payment. I was let go recently (22+ years). No payment as part of severance.

In talking with current employees, they have primarily let go people with years of experience, older people and high earners. It looks like a college with younger adults and interns everywhere. The offshore is still in process. CAO first, FPA in process, Tax and other finance departments next.

Lmao the CAO who took hertz from $17/$18 a share in 2023 down to $4 a share in 2024 thinks that she is the next CFO of FIS?! Funny enough, given how jacked up this company is, I’d unfortunately say she’s qualified for the role!

Is the FF initiative payout issue thing legit? I’d love to know how many employees submitted ideas, were denied full payouts, and then laid off. Sounds like a lawsuit waiting to happen (a lawsuit that I hope these former employees would win).