Fidelity National Investments Services sacks 10% of its workforce!

Forward by Srujan

Fidelity National Information Services
(FIS) has given pink slips to over 100 employees at its Chennai operations. This constitutes more
than 10% of its staff in the metro. Though the company, which has been in India
for over a decade, termed the move as ‘rationalisation’, employees are on the edge.

A leading provider of core processing for financial institutions, card issuer and transaction processing, and related information products and outsourcing, FIS has a headcount of over 4,000 employees across India. The sacked staff were unceremoniously escorted out of the office once they handed over their laptops and other official gadgets, sources told ET.


“Employees are on the edge. Those who got fired did not have any clue about it. Nobody knows what criteria was applied…whether it was the CTC parameter or poor performance. A mail was sent to the employees asking them to leave,” sources added.

Chennai operations has more than 1,000 staff. Among those axed, included four in the directorial cadre. An official from the US came specifically for retrenching people. Bangalore and Gurgaon are the next downsizing targets.

Apparently, one more round of this is expected to take place in Chennai next week. After repeated attempts, FIS HR VP Prashant Sharma responded to a mail from ET on Thursday. “FIS India is an integral part of the global enterprise and will play a critical role in the company’s future growth plans.

This is demonstrated by the fact that over the years FIS has introduced new processes and products in India which have created immense opportunities for many employees who have participated in this growth.

FIS Human resource and talent management practices are based on internal as well as client business requirements and these are reviewed periodically to ensure efficient and prudent management. As a result of this review, there has been rationalisation of some staff in our Chennai location only.

While the rationalisation is taking place at Chennai, FIS India is hiring at other locations, which include Gurgaon and Mumbai. In fact despite the trying times that the markets are going through, FIS’s recent 3rd quarter results have been above expectations and we are confident that we will continue to have growth opportunities for our employees in India.”