Changes are afoot - wake up folks - post regarding Fidelity National Information Services Inc. layoffs

Changes are afoot - wake up folks

Let's review the story thus far:

SF was going to be CEO, GN was going to be chairman
$500M in 'cost reductions' are announced
Pro tip: 'cost reductions' mean people
Institutional investors (Border to Coast Pensions, BlackRock, State Street, Vanguard, CII, Wellington Mgmt, etc.) said 'no way jose'
Independent board chair, JG, is appointed
Goldman Sachs is appointed as 'divesture counsel'
GN is fired two weeks early and removed from board entirely
SF says 'hard times ahead'
2600 fired
WorldPay spun off
SF announces a total of $1.2 BILLION in 'savings', an increase of $700M from the original target. Remember, 'cost reductions' mean fired people. Lots of them.
RTO announced
No more paid out PTO
Reduced stock match
No raises

At this point, if you are not at least applying for new roles, you are being willfully ignorant of what's happening around you. Keep your eyes open and stay fleet-footed.

You don't want to be caught in a tsunami of thousands of fired people that closely overlap your technical background, all simultaneously competing for the same finite (and rapidly shrinking) number of open roles in the fintech industry.

Comment! It's anonymous!

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Add the class action because FIS lied

Add Visa using that class action to buyout FIS for 20-40 a share instead of the 80-120 in articles.

Look forward to FIS turning it down and then folding as a company.

Look forward to everyone losing a job because management and executives ate all the pie until you had no home.

But hey everybody, need you in the office as much as possible. Need you working 14-20 hour days. Need you to work all weekend. Need you to stop bi--hing and keep doing. Because the end result is you will be out of a job, management will get bonuses, executives will get bonuses and stock.

So be quiet and appreciate what FIS did for you.

and one more addendum: Visa is looking hard at acquiring FIS. To make the net present value of that investment work, they need to cut expenses radically

I figure if you are close to the clients, you are marginally safer than any back office function. All back office/admin/HR/marketing/DEI stuff is going to be 'synergized' with Visa's org if the buyout goes through.

Don't be a dummy. FIS ain't UNICEF. It's their fiduciary duty to sc--w you over. It's your fiduciary duty to your family to prepare for it.

Thread regarding Fidelity National Information Services Inc. layoffs

Changes are afoot - wake up folks

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