Fintech Firm Fidelity National Information Downsizes 2,600 Jobs As Part Of Restructuring: Report

• Fidelity National Information Services, Inc (NYSE: FIS) has eliminated 2,600 staffers as new CEO Stephanie Ferris continues her strategic review.

• The fintech giant slashed 2% of the company's full-time workforce, including 1,000 contractors, in recent weeks, Bloomberg reports.

• The job cuts are part of Ferris's plan to deliver at least $500 million in cost savings in coming quarters and win back investor confidence, the report adds.

• Ferris assumed charge in December. "We are taking a hard look at every aspect of our company to define areas for change and develop specific action and improvement plans," Ferris said earlier.

• FIS's shares fell over 35% in the past year.

• In January, FIS added Lee Adrean, a former Equifax, Inc (NYSE: EFX) executive, and Nuance Communications Inc CEO Mark Benjamin to its board.

• Fintech rival PayPal Holdings, Inc (NASDAQ: PYPL) shared plans to reduce headcount by ~7%, or 2,000 employees.

• Price Action: FIS shares traded higher by 2.42% at $78.65 on the last check Thursday.

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