Still waiting for the imminent sale of the company and 7000 layoffs....
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While I'm one to appreciate updates, it's a bit nerve wrecking to see "Hearing rumors of another big layoff in August…" without at least some (careful) context.
Are the rumored August layoffs specific to a line of business or across all business lines?
Also, is there a number of how many potential impacted employees?
Hearing rumors of another big layoff in August…
With exception of a few leaders, all are hand picked by Stephanie or former Worldpay. When will blaming Gary end? It doesn't look good to the clients who had good long-term relationships with Gary.
Not that Gary was any better for FIS. His complete incompetence led to the terrible panic purchases of SunGuard and WorldPay, both of which later had to have major portions spun back off due to complete incompatibility of the companies. The root causes of the disasters that have caused the 60%+ decline of our stock were set in place and by Gary's mismanagement long ago.
Now, Stephanie is left to take the fall for a rotting company. But that doesn't excuse what she has been doing. It's saddening that she seems to be doubling down and making things even worse while taking massive compensation.
Not fair to compare Ferris to Bisignano. Frank may be a monster, but is at least somewhat competent and runs a company that's grown over the last several years, and has eaten FIS's lunch in the SMB & mid-market space.
Ferris is a monster as well but lacking any discipline or cohesion, simply taking orders from 2nd-rate "activist" investors to whittle down the company and reward herself handsomely, despite awful stock performance. She's a loathsome CEO who could not care less about the company she leads.
Is this layoff just about over hiring?
Or is Stephanie Ferris a monster like Frank at Fiserv where the only way they know how to cost cut instead of a reduction in the fat check they get from stocks?
Literally just read a payment dive article about doubled compensation because of stock award.
I heard around 300. A few affected on my team.
Anyone know how many people? I know of a few, but not the extent