Should we expect that literally ALL teams within CIO, Tech Development, and Professional Services will eventually transition to contractors or be phased out, or are there certain products or teams that are intended to remain in place much longer term/business as usual? Do we think this will eventually also impact other teams like sales, client support, client success, etc?
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This will continue until stephanie is gone.
She has no other strategy
There's no reason to think that everybody is going to be converted.
From the few areas that did provide transparency around this we learned the goal was to increase our rate of contractors to be more in line with industry standards. There's also a benefits from a capitalization standpoint.
This should have been obvious to execs. The biggest mistake, aside from the communication, was rolling this out at once versus a slow adoption of contractors.
Now, it is fair is to say that there's no way for us to know what will happen in the future.
@aj Don't look at Cognizant reviews of current and perspective employees.
Everyone is open to being replaced. Especially after June when half of management gets terminated.
I'd sleep with one eye open.
@aj the fact that so many developers were impacted means that FIS remains committed to their Cretaceous period systems.
@aj that is rich considering how FIS f'd up the Franklin Templeton contract! FIS was an outsource for their Transfer Agent (TA), now they are outsourcing their own shop, but worried about looking bad to their clients because of it. Seriously?
I’m not sure why people always gravitate toward extremes. It isn’t possible to fully outsource your IP generation to an external company; however, it's also hard to believe this is just a passing wave. I expect the trend to continue to a certain extent.
In my view, we could see an increase of a few percentage points in the coming months. Beyond a certain level, you enter a non-cost-friendly zone where your IP is also put at risk.
My understanding is that folks with direct relationships with the customers (CSM's, SDM's), system architecture and those dealing with things pertaining to the company intellectual property will always be retained as FIS employees. I also heard that the agreement with Cognizant allows them 18 months to prove themselves or the agreement gets canceled. So if the those who become contractors make Cognizant look inept, the deal falls apart.
There is nothing stable about this company.