Fiserv Cuts 3,000 Jobs and Boosts Savings Target
Fiserv has reduced its workforce by 3,000 employees and contractors since June and doubled its cost savings target to one billion dollars. CEO Takis Georgakopoulo outlined the changes during an earnings call, sending shares up in premarket trading.
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FISERV INC cut 3,000 employee and contractor jobs since June, reducing senior management by 10%, CEO Takis Georgakopoulos said on Tuesday morning. Shares of the payments firm rose 9.5% in premarket trading following the announcement. The aggressive workforce reduction highlights management's push to streamline operations under new leadership.
