CONNECT WITH US
Fintech

Fintech

Fiserv Job Cuts Reach 3,000 as Savings Target Doubles to US$1 Billion

Fintech News Singapore logo

Published on

Add as a preferred source on Google
Fiserv Job Cuts Reach 3,000 as Savings Target Doubles to US$1 Billion

Fiserv has cut 3,000 employee and contractor jobs since June, Reuters reported.

Chief Executive Takis Georgakopoulos disclosed the Fiserv job cuts during the company’s earnings call on Tuesday, noting that they included a reduction of more than 10% in senior management.

The payments company employed more than 38,000 people worldwide at the end of 2025.

In a statement, Fiserv said it is taking several steps to streamline its organisation and improve efficiency, with Project Elevate among them.

Under the programme, the company has doubled its savings target to US$1 billion from US$500 million.

The increase comes after activist hedge fund Jana Partners urged Fiserv to set a target of US$1.25 billion. Jana has held a stake in the company since late 2025.

Georgakopoulos also outlined plans to exit more than a dozen smaller products that sit outside Fiserv’s core business.

According to him, these products lack the performance, growth or margin profile the company considers attractive.

Featured image: Edited by Fintech News Singapore, based on image by pressmaster via Magnific.



Source link
Related Topics:Fintech

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We TheMorningPulse.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It's possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.