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FIS to cut thousands of jobs - Bloomberg

2022.11.23 22:08

FIS president Ferris will add the role of CEO in January and will move to significantly trim a workforce of staffers and contractors that numbered 65,000 at the end of 2021.

With the company's share price diving 44% this year, Ferris is aiming to cut costs by $500 million over the coming quarters.

Bloomberg quotes Ferris as telling investors this month: "We are focused on permanently reshaping our cost structure through both cost-reduction and containment initiatives.

"These include actions surrounding the optimization and reduction of vendor spend, the outsourcing of non-value-added activities, and reviewing and rightsizing the current workforce."

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