Will Payments / Elavon / MPS be impacted by layoffs in the near future?
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With U.S. Bank signing exclusive agreements with WorldPay, BillTrust and One, Inc. (all involving services that can easily be provided by Elavon) in my opinion the bank's confidence in and value attached to Elavon continues to dwindle daily, such that what is left of Elavon's payments leadership with seasoned and portable talent is not going to stick around for the final countdown, which in all probability will be a spin off into a joint venture sometime within the next two years to generate the balances due to pay off MUFG for the Union Bank acquisition debacle and set aside the necessary funds into the reserve column to support the upcoming Fed/OCC/FDIC requirements in 2026. From all indications, U.S. Bank and the Minnesota bankers will not be on the short list of banks expected to thrive and prosper under a Trump administration, New York City and Charlotte based banks were better at their roles during the campaign.
80% of employees can be fired without any impact.
Elavon is falling apart by the day. Morale is at an all time low with senior leaders losing control of employees and no improvements on revenue. Many that I have spoken to recently are waiting for bonuses to arrive before they jump ship. Easier said than done but after 6 years here I can see and agree with most of what’s being shared on this forum. Get out and save yourself from this nightmare
I’ve never seen or worked for a company that spends more on large events and conferences that bring zero value or revenue to the organization. Hundreds of thousands of dollars per event where all executives travel to and they have nothing to show for. Do less of those and save more jobs
If you have more than 15 years at Elavon you’re on their radar for layoff. This is not a place you want to devote your career to.
Some of those announcements are made as retirements cause they are that nasty and low to force retirements or just get canned.
Yes CPS announcement made….but as “retirements”
Within the bank is it known who the higher ups were who got let go in CPTS?
We heard about some middle Mgr's but not much beyond them.
Was anyone in RPS or the CRO affected?
Maybe I missed the announcement while deleting my survey request emails...
"There is literally no job safe at the moment.....Unless you're in that special club of people who we see on these wonderful calls."
I don't think those higher ups are safe either. We've seen plenty of SVP and above let go. They're all roaches who'd sell their mother for a buck. Zero trust bank.
@1lze+1v9r2gVH what role r u in?
There is literally no job safe at the moment.....Unless you're in that special club of people who we see on these wonderful calls.
I’m part of MPS and I think it will be impacted again. We saw a number of people laid off last week and the consensus is that Elavon remains heavy in certain areas + revenues aren’t where they should be. Not to mention how toxic the workplace has become
They have been and just wait till Shailesh leaves. Gunjan is going to go in a RIF frenzy.
MPS Town Hall today offered nothing to be excited about in 2025. The leadership team did have a short Q and A, but none of the leadership on the call is a part of any HUB strategy or configuration for RTO, the entire segment was taped but for the question and answer period at the end. No reference to Elavon performance, just reference to the bank's numbers.
Middle managers only? They got rid of 2 fairly high level ppl in CPTS
There was a major stealth layoff, many middle managers. Something tells me the OP is not in the loop or back in the office.
Why would they be exempt? This is an enterprise chopping block same as RTO failure. Lu----r is out of a bag and he got a high paying role at US Bank.