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Fiserv cuts 3,000 employees and contractor jobs under new CEO

By Reuters News

Nov 3 (Reuters) - Fiserv FISV.O has cut its employee and contractor base by 3,000 since June, including a reduction of senior management by more than 10%, CEO Takis Georgakopoulo said on an earnings call on Tuesday.

Shares of the company rose about 9.5% in premarket trading.

Here are some more details:

  • "We are pursuing a number of initiatives to simplify the organization and operate more efficiently, including Project Elevate," Fiserv said in a statement.

  • The company had more than 38,000 employees worldwide as of December 31, 2025

  • The payments firm also raised its Project Elevate savings target to $1 billion from $500 million, after Jana urged it to target $1.25 billion in savings

  • Georgakopoulos also said Fiserv plans to exit more than a dozen smaller, non-core products that lack attractive performance, growth or margin characteristics


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