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Fintech Giant FIS to Cut Thousands of Jobs as New CEO Targets Costs

  • Stephanie Ferris’s planned dismissals expected to be gradual
  • Shares of the payments juggernaut have tumbled 44% this year
Updated on

Fidelity National Information Services Inc. plans to dismiss thousands of workers as part of incoming Chief Executive Officer Stephanie Ferris’s strategy to win back investor confidence after the fintech giant slumped 44% this year.

The cuts are expected to be gradual and may affect several thousand staffers and contractors at the payments company, according to people familiar with the matter. They’re part of Ferris’s plan to deliver at least $500 million in cost savings in coming quarters.