Not sure what the plan is. Maybe it's being dressed up to be sold, because the going concern ability of this place is being destroyed
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Bold of you to assume there actually is a plan.
FIS stock down 8%+ today and dropping....
There is no strategy or plan. that's clear
why does Stephanie still have a job!!!
do we really need TPO Bob's role? This can be replaced by AI
Tpo Bob's AI initiative of firing people and replacing them with AI is the new Atelio.
@5b1 even KTLO is aspirational
Pretty soon, it will be no customers, and just Bob T + a bunch of AI bots
FIS is in KTLO mode. The communication to the investors is poor. Get your severance and start a new. You'll need ypur severance to recover from the ptsd( seriously). Sadly, the culture that it was at one time is long gone.
The roster of the people I've seen let go in the last two months is essentially an all-star roster. The knowledge we have lost is unimaginable and irreplaceable.
FIS is becoming like one of those old movie sets, where they just have the front of the buildings
A strong wind will blow it down
Yes the ratios are a factor here.
FIS' clowns to employee ratio was too low and so needed to be corrected.
When just the c suite is left it will be at mckinsey recommendation of 100%
Shocking is definitely the right word for it.
After the previous, multi year rounds of cuts, certain skillsets and knowledge were very thin, with a lot of key-person risk. These people are now being exited
Some products or functions I guess will just stop functioning period
Customers weren't the happiest to start with. This is pouring a ton of gasoline on client fires
Even if I survive the rounds should I actually stay?
This like having a seat on the titanic. Even if you're in a safe spot, you're on a ship that is sinking
I heard that the company is letting people go to match revenue to headcount ratios of other fun techs in an attempt to woo Wall Street.
Revenge of the world pay.
complete chaos
Yes, it is. So sad to see. And so sad to also see such incompetent "leadership" making millions upon millions of dollars to do pretty much nothing else but fire people when their poor decisions don't work out (for the 10th time!). Imagine being so uninspired, so intellectually lazy, so out of touch, so unable to actually solve problems that your big desire for being CEO is to fire people. Not try to reduce unnecessary products and move talent elsewhere in the company strategically, not to invest in new technology in ways that really address client pain points, not empower exec leaders to do what's best for their areas based on their expertise - just blindly follow some ridiculous, outdated playbook for corporate America where firing people and extreme micromanagement is seen as the only way to run a company.
News flash - it is not. In spite of what Corporate America's "leaders" eschew, shareholders are not the only reason for a company to exist and more things DO matter than the share price. Companies are run this way because it is set up to give Csuite lots and lots and lots of money no matter what happens. So of course they'll take the easy way out and end peoples livelihoods on a whim (or after a toddler-style meltdown as SF did recently that directly impacted recent round of layoffs - this kind of emotional outburst leading to firings should be illegal). No accountability, no vision, no planning, no strategy (NO endless cuts is NOT a strategy).
But. What goes around comes around. Karma is real.
What is happening is really shocking.
This place is really being hollowed out without a plan
if they didn't itend to sell originally, they might have to when they are done
Putting lipstick on the pig, of course.