Next layoffs first week of May
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@8s4 There were. I know someone who was.
First week of May has passed. No RIFS. who’s making this stuff up?
The link you shared, did not work, but I actually found out through youtube videos. Former employees put out videos as to why they do not want to work there anymore. Also there is a documentary. When you get laid off, and you start watching videos of other people's experience, to get perspective and the algorithm suggests other things related to the topic. Videos about Mckinsey were suggested by the algorithm because that is the company that most big corporations hire to fire people and they also do tons of corruption along the way. They advised Disney to cut the hours of the ride operators to save money, which in turn caused a situation where the security of the harnesses for the rides were no longer being checked at night. One little boy fell out of a ride and died. Disney settled. All kinds of corruption. If global wants to associate with them, in the long term it will not be a good thing for you all. Global will also become corrupt if they haven't already. From the looks of it, they are on the way there. Birds of a feather flock together. just do a search on youtube, "Mckinsey corruption" and all kinds of videos will pop up.
Someone mentioned how corrupt Mckinsey is. Here is an article backing up that claim.
https://www.theguardian.com/us-news/2024/apr/24/mckinsey-criminal-investigation-opi--ds-crisis
Was in the last RIF
Then.... They rehired the ku-t that was let go... What a slap in the face.
we are at 61% but target is to reach 70-75% low cost centers. Any US SHAs are going through lot of scruinity . Which su-ks
if the last comment about shipping 70-75 percent of the jobs overseas is true, then basically they hired a corrupt company to help them steal the jobs from Americans. After my layoff, I found out Mckinsey is very very corrupt and have gotten caught doing alot of shady things and have even been banned by some companies they worked with due to getting them in legal trouble. Most of the time Mckinsey gets away with their corrupt practices and are not held accountable. I wish you all the best.
Target is to move 70-75% workforce to lowcost center--> Mexico, poland, indai
Reduction In Force
what is RIF list?
Twist list? Who knows for sure. As far as I can gather, it just means your name is on the RIF list.
Cameron and McKinsey are going to be doing the Twist all the way to the bank while the rank and file suffer
What is the twist list?
Can someone explain the twist list? I’ve heard that term several times, but nobody at work knows what it is.
So if you do some maths, Global has 27,000 employees and US$10.1B in turnover or US$374,000 per employee. Fiserv has 41,000 employees and US$20.46B in turnover or US$498,000. For Global to match Fiserv's labour productivity would require Global to make about 6,000 employees redundant.
Oh dear heavens..
Agree. If the job market was not so dismal right now, I may even welcome my name on the twist list. Every day is a struggle.
I have given everything I can and I just dont have anymore. I do not get the logic of these cuts. I have friends in Jeffersonville and Columbus that are worried sick. I have heard every office throughout the US will lose significant people and in some cases complete product line divisions.
It’s true that direct leaders are not informed.
I take everything on here with a grain of salt. I will say this, those who are individual contributors need to understand that your direct leader has very little say in RIF targets. Most of this is being driven by the CSuite as well as McKinsey. We are all just passengers on thia ship. I wish us all the best, especially those who have deeply cared for their teams / their people. There are good leaders in this company but I'm afraid we will see more leave as this is getting harder and harder. Having to fight for our teams to the extent we are and yet having such high demands from a KPI perspective and all the McKinsey meetings every day, it is getting very difficult to maintain my will to move forward. Stay strong everyone.
At least you all have warning. When I was laid off in the big august 2024 one, we had zero warnings. Our managers didn't even know.
No idea what to believe any longer.Rumors running rampant that multiple offices are set to close. Tempe, Lindon,Rochester, and Cleveland ( wasn't sure we had office there) . I have also heard Jeffersonville but I can't see that happening, but they did just build a separate warehouse for hardware shipping.
All I know is that things are getting scary.Like the last post l, I've heard some big numbers for May; 3000 to 3500 individuals impacted. Depending on how the year goes, McKinsey may try to pull in 2026 reduction dates and fast track some of the AI and Robotic initiatives. Hang on every one and best of luck to us all!!!!!!!!!
I have a old friend that works in processing in HR and can confirm this. First week of May, potentially last week of April. The minimum estimate is 2000 with a "worst case" of nearly 4000. Mostly affecting legacy programs at GP like TSYS, Heartland and Xenial.
She hasn't told me about criteria for those who will be laid off, she just processes them. But from the initial list, they don't seem to discriminate. Managers/workers are being targetted equally.
Good luck everyone. I wish I was making this up.
Whoever is posting this stop spreading rumors..unless you know for a certain
Own your outcomes.
I see that the head of HR has resigned to pursue other opportunities - is her departure connected to the layoff? I would suspect it gets tiresome after a while for someone in HR to have to manage a shrinking company.
https://investors.globalpayments.com/financial-information/all-sec-filings/content/0001123360-25-000014/0001123360-25-000014.pdf
When you say leaders who did not take on expanded roles in the first month, what do you mean?Many of us added to our teams through reorganization efforts in Aug and Sept/Oct 2024 but nothing sense. I've heard some big names will be impacted in May. Most of which I'm floored to hear. Legacy GP, Legacy Tsys, Legacy HeartLand, and a lot of Legacy EvO Leadership.
Post from TheLayoff.com
I am hearing that Integrated is being fully migrated to India and Manilla.Any truth with this rumor?
I was one who got laid off last time. The job market for tech is cooked. I was working in modernization for about 1.5 yrs as an SE1 so I could learn after being in mainframe for many yrs. I got let go because I was an SE1 making the salary of a lead mainframe dev. I tried to find another java / cloud developer job to no avail. rejection rejection. They only want senior levels and age is also a factor. If you are over 40, finding a job is more difficult because they want younger people in their 20s right out of college, or they want H1B's or Indians, or people from poland and philippines. It is very high competition. Also 85 percent of the jobs listed out there are ghost jobs. Which means they are fake and the company is not hiring. One of challenges I encountered was that a company would have hundreds and hundreds of applicants, they would interview you, you would do great on the interviews etc.. but then they ghost you or reject you only to relist the job a month later. Another challenge is that you have to go through 5 rounds of interviews for these jobs as well as coding tests and personality assessments. Even if you pass all of them, you still get ghosted. Another thing they do is that they would give you a entire project to work on which can take you a month. Once you are done and you present it, they take your work and ghost you. So they get free labor from job seekers desperately looking for a job. I ended up having to relocate to North Atlanta to get a job and I ended up having to go right back to COBOL. I was never able to break back into the java /cloud stuff. to much competition and I'm to old by the industry standards to try to progress and do anything new. It is very depressing and discouraging. I don't even want to try anymore. I am going to have to accept the fact that I will be stuck doing COBOL forever for paycheck and not anything exciting unless God Himself steps in and opens a door. Good luck if you get laid off. It seems to me thats all global payments is good at. Laying off people.
To those that were laid off during the last big one—how is the market? I’ve heard that it isn’t great and some folks are still looking.
New hires make much less than people have been here for 8 years or more.
I have been seeing lately on linked in people starting new positions at global payments. Why would they be hiring if they about to layoff? It doesn't make sense to me.
I worked for tsys for 17 yrs total. I got laid off during the last big one that let go 2700. I miss the old tsys. Now all I see is that Cameron and these leaders and mckinsey are bleeding tsys for all the money they can get and then they are going to jump ship and sell. They don't seem to care how this will impact the economy of columbus, ga. Let's be real. Columbus is not a place that is growing at all. Programming jobs are very scarce there. Losing tsys will leave aflac as the only choice to gain employment in the tech field, other than the hospitals and military. I feel bad for the people of Columbus. When the economy and job opportunities dry up, crime will increase.
I have heard through the halls that this will be as big as August was. Also heard , state based support and service teams should expect to be impacted. Manilla and India have growing offices where employees actully want to be in and the labor is cheaper. THIS IS GOING TO BE AWFUL and its not just going to be non exempts or contractors. More managers and above will be cut as others take on expanded rolls. If you are a leader and your team has been reduced in size or you have not been promoted to an expanded role at lsst month or earlier this month, I would start looking. Q1 numbers are not where they hoped they would be. Bring back Jeff.
Both; merchant processing and issuer. Will be a significant impact.Many jobs going to Manila, and India.Next year will have another significant impact. Many will be shocked.Stay buckled up friends.
Will the layoffs affect the mechanic side or the Issuing side or both?
Enough people have mentioned it to make it seem like a real possibility. Start budgeting accordingly and putting some money aside to protect yourself until you know you are safe.
Numbers in 2nd half of the year must not be looking too good.
Is this rumor? Or is this confirmed? What's the reason for the layoff? Stock price? Or jobs being sent overseas?
And how do you know this? Are you HR?