Today, my manager informed me that I’m part of the next round of actions, as my role is affected by the organizational health measures set by McKinsey. My team is being reassigned to different functional lines, and my manager mentioned that the RIF notification date is scheduled for 11/19. It appears that McKinsey’s recommendations are driving how our business is structured and managed, with decisions being made based on a set of data rather than the real work being done.
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@c3 LO asked to cut, if you’re a director or above assume you are on the list
How far “down” does this sell for parts plan go? It’s interesting to see the portfolio presidents/SVPs continuing to pursue strategic, multiyear projects. Wondering what levels might be read in
I have also gotten full confirmation on an additional planned RIF for both November and March. Focus is on VP level and up with an intense scrutiny on span of control metrics- if a leader is managing few than 7 associates, a shift or lift will be the result. This is ALL straight out of the McK playbook.
What they have not planned for is the vacuum impact of good leaders being RIF'd, landing a new [better] role elsewhere, and then pulling great talent from FIS to where the grass IS greener.
November is real, I was told about Sept and Nov planned rifs in Aug and the plan is more Directors, VP and SVP levels as well as outsourcing the wealth and retirement teams to a rd party to do the work that current teams can’t seem to get right. Clients are not happy and they charge a lot for product and services that are not fully functional
@k8 Bonus Pay? I've been with FIS over 30 years, WHAT BONUS PAY!
@hs
That's the only thing that's made sense. We're selling.
- The "portfolio strategy" or whatever BS they're spinning would make it easier to split the company
- The obsession with McKinsey
- Hollowing out legacy FIS talent and bringing in outside "leadership" that has no attachment to this company and is willing to gut it for whatever left they can extract from it
- Making employees feel uncomfortable and communicating as little as possible. Making roles confusing. Increasing tension to increase turnover and reduce severance payouts as much as possible.
- Reduce bonus payouts by changing the goal posts. Eliminate retirement match contributions on a per pay period basis.
- Eliminate year end reviews. performance isn't recognized because that's a potential cost increase. They'll get it from you for free by making you feel uncomfortable
- Reduce or eliminate employee surveys. It would obviously show low scores and only prove what they're trying to do. Used to collect data on groups if anything.
It's obvious. We're selling.
It's all just temporary from here.
I’ve spoken to people internally, as well as more than one c suite exec in the payments / fintech industry, and they all said FIS is meeting buyers requirements to be sold.
Why are people so afraid to say the org or business line? Would be very helpful. This site is pretty anonymous.
Tell us more, what org, div, bu and team.
Are you a middle manager?
So sorry. But long term this may be a good thing for you. What group are you in?
@OP Sorry mate. I've not heard anything about Nov yet and have not been asked to cut.. yet.
Same here. Nov will be interesting.
@OP Sounds like the end goal is to cut until the divisions are shopped. Nobody with good leadership wants to be lead by the McKinzie nose for any other reason.