Fiserv Cuts 3,000 Jobs Under 'AI-Everywhere' Push, Doubles Project Elevate Cost Target to $1B

On its Q3 call Fiserv disclosed 3,000 employee and contractor cuts since June — roughly 8% of its workforce — including a 10%+ senior-management trim under new CEO Takis Georgakopoulos. He doubled the Project Elevate savings target to $1B and framed the restructuring as 'simplifying and focusing the organization with an AI-everywhere mindset,' automating fraud review, customer service and software work. Shares rose ~9.5% premarket.