The ferriswheel is starting up again. Let’s improve the company’s bottom line by another deep cut. Why not, it keeps working? The leadership of this company couldn’t manage a lemonade stand. Total failures. Jetting back and forth between Jax and Cincinnati. Feeling they are the best leaders ever. The emperor has no clothes. The leadership is ineffective. Can we cut a few of them instead of people that are really making a difference? Can we cut the bloated CX / acct mgr world that does nothing? It is hard to convince clients that FIS is the company to partner with when you know it is sinking as the execs drill more holes to help.
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If the deep cuts are working, why is FIS stock in the toilet??? I can't believe Ferris still has her job!
June 30 is the cut they game 90 day + termination and rebadging notices to. Most rebadging for that run has been completed. The intent was to keep it quiet and not violate as many federal laws as they have been doing. Look at the stock. They heard about it somehow.
Next batch of terminations and rebadges are coming up. This company wants to be lean except for third party cost base. Which will save them money in the long run. Cognizant and Zensar outsource everything to India. Pay the peanuts. Lose the knowledge. Execs and their assistants are all that will be left. Oh, and the lawyers.
@ey Its a new cut
Come on, this is FIS, of course there will be more cuts than the 3/30 RIFs :)
@b7 once more, the lay offs from last March will have June 30 as their last day. If this is the deep cut, it's been done. If there are more, and there well could be, that will be for new lay offs. Yikes! Stay frosty, people.
@b7 note this is the day before pay raises take effect for those who got a raise last year.
@bc CDS
@b7 which evp? Have a name?
EVP just confirmed next round of cuts will be effective June 30. Company needs to find $100M in cost savings.
@aq I see a lot of opening and they are hiring..maybe impacted some group are impacted with the freeze..that's a known thing
Can confirm too.
hiring freeze as well
@a7 cue John Williams theme from Jaws...
Can confirm another deep cut coming up
Yeah cut a few c suite and that will pay for all the opex.