How many are planning to quit rather than being transferred? I see several people mentioning that's what they're going to do, so I'm just wondering how prevalent that is.
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@OP What happened at FIS on Tuesday? Did we buy Cognizant and now everyone is getting transferred. They haven’t mentioned anything to us at TSYS
I’m one of them. Found out Tuesday morning along with the rest of the 20K employees being hit. Some are RIF’ed but won’t get severance unless they stay on through June 30. The majority are offered transition to Cognizant in the U.S. and Zensar in India. (Not sure of the volume of the split.) It’s all take the offer or take the door, as an at will voluntary separation, meaning no severance.
I’m in the U.S. I’m old. Too old to start job searching and career building now. I’ve taken the “deal” and plan to ride this out for ad long as it goes. The big hit is I had over two decades of time on the FIS books. Under Cognizant, it goes away. I do get my parallel salary, for now, and my PTO accrual is still the same, for now, but there’s language in the disclosures that can be seen as being “revisited” when things get better integrated. I’ve danced to this circus calliope before. I see where it’s going. Just get me to retirement.
@OP is it possible that Cognizant has even cr-ppier benefits than FIS? Of course, it's possible and even more so, likely.
The ugly truth is, if they put you on that list, they either think you’re replaceable or they have no clue what you actually do. In either case, this is no longer a good place for you - honestly, it’s not even a good place for us to stay.
Look at your situation: if you can afford a couple of months without a salary, take the time and reject their offer. Sc--w them. If you’re in a tough spot and need the money, just accept it for now while looking for alternatives.
The most important thing is to not get emotional, as that will only hurt you. This company is already badly damaged, focus on your health and good luck!
@ad FIS is now exploiting the severance policy which states in section B, you are not eligible to receive severance benefits in the event of a corporate transaction … or contracting out of a function to another company. People can refuse to go to Cognizent but that is viewed as voluntary termination of employment as FIS will not retain you. As stated by the severance policy, if you voluntarily leave the company you are no longer eligible for severance benefits. In the past quitting was the last thing you wanted to do because you lost all benefits. It’s an employee decision to go with Cognizant or quit, all FIS benefits are gone at this point and the employee is only going to lose cognizant paycheck.
@ac Just saw the other thread: https://www.thelayoff.com/t/1kmjn32mr
Looks like they found a loophole to lay people off while avoiding severance payments.
Something worth looking into: If you refuse to work for Cognizant and force FIS to get rid of you instead, would you receive severance? I could see that changing the balance for many, as I doubt you'd receive any sort of severance benefit after signing the deal with Cognizant.
@OP Those of us who received "offers" from Cognizant can either accept that offer or FIS is accepting our voluntary resignation. Not really much of a choice.
If you don't think this hasn't been done with other firms and retention rates are defined and decided upon...you're fooling yourself.
Most won't. A lot of big talk that will invariably fall thru when it's time for action.
@a2 it would be even funnier if someone called the client to let them know.
Don't break up with your current partner until you have a replacement lined up.
Multiple rebadges on my team, even though we are all 100% funded and dedicated to a single client with our own contract. They’ve all said they will quit instead. They are all critical to customer facing projects. It would be hilarious if nobody accepted their offers and FIS C-suite phones started getting client calls.