Nov 3 (Reuters) – Fiserv 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
(Reporting by Pragyan Kalita in Bengaluru; Editing by Tasim Zahid)
