Fiserv cuts 3,000 employees and contractor jobs under new CEO
FISV•Fiserv has cut 3,000 employees and contractor jobs since June, including more than 10% of senior management. It raised its Project Elevate savings target to $1 billion from $500 million and plans to exit more than a dozen smaller, non-core products.
1. Workforce reductions
Fiserv CEO Takis Georgakopoulo said on an earnings call that the company has cut 3,000 employees and contractor jobs since June. The reductions included more than 10% of senior management. Fiserv said it is pursuing initiatives to simplify the organization and operate more efficiently, including Project Elevate.
2. Savings and products
Fiserv raised its Project Elevate savings target to $1 billion from $500 million, after Jana urged it to target $1.25 billion in savings. Georgakopoulos said the company plans to exit more than a dozen smaller, non-core products that lack attractive performance, growth or margin characteristics. Fiserv had more than 38,000 employees worldwide as of December 31, 2025.
