With FIS being a massive company why are these layoffs not making the media?
15 replies (most recent on top)
@jh did Capital one sue us for this?
What is worse is when a Exec asks who is going to replace the person with 20 years knowledge? If it was critical, why layoff? What a joke. We are already doing jobs for teams that have been decimated from the organization. You want us to do more, with less? Be happy we have a job? I am so sad that a company I use to love has lost its way. Leave you say, is the grass always greener?
@d4 Its called transparency.
@j0 I wonder how much $ we had to give back.
I'm sure yet another quiet settlement to add to the list
@j0 Wow, three days? That is impressive, but not surprising. Imagine not being able to access your bank account for three days? Was not aware of this story, but it tracks. Anyone having to use their internal systems like FIS TA, WFM, PI DOCS, etc. will recognize the struggle. It's a fist fight every single day.
seems the only time FIS is in the news is when it is making a mess, like the system outages that caused Capital one to go down last year
"FIS entangled in Capital One outage over days"
https://www.paymentsdive.com/news/capital-one-outage-fis-bank-of-oklahoma-citi/737858/
@g4 after all of the turbulence of the last few years, with no accountability (no one fired), it seems hard to believe that the Board of Directors would vote for that now. One of the most difficult things to tolerate is the price paid on the frontline for the %&$# decisions above. Because of the news room layoffs, there isn't staff to find this story. It might well be that the story comes to light when it gets sold. Stephanie will just get a golden parachute and a job at another company. Thinking about the families staring at their budgets and figuring out next steps. Does anyone know if any health care coverage was part of the severance for front line staff? For families with ongoing health issues, this would be a real crisis if their coverage was from their job at FIS and they had no other coverage options.
In the months to come, FIS will be in the media, just not about layoffs but for the sell of the company. Hold on tight to those left sounds like a very turbulent ride is ahead. Stephanie needs to be fired for only taking 3 years to drive this company into the ground as she did worldpay.
@d4 that is exactly what they are counting on. That they can behave with impunity while cashing huge paychecks/bonuses when they have a responsibility to their shareholders to create profit. Due to their incompetence, they are not creating a return for investors. It's about accountability. The Board of Directors should replace executives that cannot perform. In addition, there is a story here that many would be interested in and who have shared this experience. Sunlight is the best disinfectant. Let's open up the drapes and let the sun shine in. Then let's see what happens after that. The company is already hurt, allowing the C suite to fiddle while the employees, current and those who were just laid off, to be burned would be wrong.
@bs if you are still employed by FIS and using the money, medical, 401k etc. to provide for you and your family’s life and future, why would you stir people up to report something, that although sad for those affected, is part of working life and evidently not newsworthy. Your obvious intention is to try and do damage to FIS’s image, possibly resulting in more RIFs.
@bq Oh, I want to play too! From a review of Ignites.com, their Managing Editor is Jeanhee Kim and the most likely reporter is Daniel Gil. This is their beat, prior to this, do recall seeing internal emails about being concerned about various stories being picked up by Ignites. Do your thing, internet people.
@aj Ignites should be very interested. They cover mutual funds and ETFs. This is right in their wheelhouse. If one of their reporters reached out, they would get an earful. Who wants to be the one?
FIS is old technology, a smaller Fortune 500, widely unknown, and not an AI leader (despite what the company propaganda says). Few would be interested in our downfall. The Worldpay fiasco was only mentioned on CNBC the day it was made public.
Regional business journals may pick it up. But since everyone works remotely the layoffs are diluted over a large geographic area.
A lot of business reporters have been laid off. Many that remain are focused on AI and data centers. The layoffs might be staggered so they look smaller.
I think we need a business press alert to these layoffs. But that's not the NYT, WP, WSJ, of USA Today. Metro newspapers don't seem interested. I don't know who would report it.