This is what Frank has implemented in his short tenure.
Badge in metrics are gathered
WFH abolished
Vaccine requirements
Mask requirements
Covid test requirements
Removal of 401k match
Atrocious bonuses
Atrocious raises
Quarterly RIFs
Angry clients who are leaving
Disenfranchised emoloyees
Why does he still have a job?
Employee stock purchase was 15% Before Frank. Now it is a 5% discount for employees to purchase stocks that are tanking.
Frank is dirt.
@1mnu+1dQbHwTB Wow Frank siphoned a lot from employee's, but good try on spinning it.
BTW, medical premiums did go up for many. Remember you pay more as you make more with the medical program. Also, the ESPP stock discount was removed and the 401K match was removed during one of the quickest stock market rallies.
@1wby+1dQbHwTB Having worked out of the Lake Mary office for over a decade my business unit was offered New Jersey. There are of course other BU's since there are hundreds of resources that worked out of that office so I am not doubting Omaha for some people, but I have not heard that anyone was offered Omaha. Many in my group were not RIF'ed either. Waiting it out....
No the 401K MATCH IS AND WAS 3%, you are confusing that the match was on the first 6%. Now it is on the first 5% so actually it is better now.
Restored the 401K to 3%?
It used to be 6%!
You literally took half of what we were entitled to and expect us to be happy??
Having worked with the lake Lake Mary team for a decade they are either being told to relocate to Omaha or have already been RIFed or 'retired'. Sure there are exceptions even these are an expire date (communicated or not) when we will be either told to move or get lost.
@1mnu+1dQbHwTB. Lol - you are joking right? A lot of Fiserv employees were hired as remote and have always worked from home. Having that flexibility allowed people to live wherever they wanted and still give Fiserv 110%. Thats why the pathetic increases, crippling workload, etc was bearable!! Now offices are being closed in states that had a good number of employees both remote and onsite, like Lake Mary. Properties are affordable, weather is nice, no state tax in Florida. But Frank decides to close the office forcing people who have been with Fiserv for 20+ years to relocate to NEW JERSEY????? Who benefits from that? Not the employees who have given blood, sweat and tears for 20 years. Just Frank and the state of New Jersey. How about you think before you reply .... This isn't a Fiserv cheerleading site!
Again another person who loses credibility in his criticism because of lies and not be balanced.
As far as I know nobody else did that
You can criticize the stock price and many others things but when you omit facts it looks like you have an agenda or are not a credible or truthful person.
What do I care?? I just accepted a new job offer!! Peace out!!
He has a job because he’s doing exactly what KKR wants. He’ll bank hundreds of millions. KKR will bank billions. Y’all will bank a bit less
People forget we are dealing with historic levels of inflation too, so the "atrocious raises" are not raises they are pay cuts.
I hate Frank, but I don't agree with a lot of what you said...
Badge in metrics are gathered: they were always gathered, that's the nature of data, welcome to 1984
WFH abolished: not fully yet, i'm still wfh, and know a lot of people that also are (but for how long i have no clue)
Vaccine requirements: oh ge-z cause covid existed before frank?
Mask requirements: see above
Covid test requirements: seriously three points that are all the same thing, shut up, it's a federal requirement, literally anyone in his position would HAVE to do the same thing
Removal of 401k match: burn in hell frank... yeah i agree with this one
Atrocious bonuses: my bonus was the same garbage it was before frank
Atrocious raises: same as above
Quarterly RIFs: pretty sure this was also the normal before frank, this is my 5th company, been at ones larger than here and yearly layoffs are the norm now, get used to it
Angry clients who are leaving: ha... cause frank invented angry clients?
Disenfranchised emoloyees: not even sure what you mean by this, cause the rest of the world is so happy?
To sum up my feelings i disagree with pretty much everything you said except for the 401k match. The cr---y bonus and raises also suck. So yeah Frank sucks and should be fired.
Also a few things you missed....
stock has not moved at all, yeah covid really messed up the market, but the general market is up way more than fiserv. that's grounds for removal from office.
the nj office is so stupid, do you know it's literally half a mile from his house? not a new house, a house he has lived in since i believe before he worked here. that makes him an asshole
Frank is trash.
I sense alot of issues coming from shock price. Corp direction is to either raise the price, which is not happening, or line pockets. In my corporate experience, whenever a company bends it's guiding purchase away from actual client work TO just pleasing shareholder, well that is a recipe for collapse. Companies exist to do a job for clients and new biz - not make fat cat shareholders happy.
Frank still has a job because he is doing what the shareholders want - maximize the share price by increasing sales (ha!) and reducing costs (thats you!)
I really don't know how he still has the job. The stock performance has been pretty sh---y. Maybe he has some dirt on the right people ?
While I'm certainly no fan of Frank let's be fair....atrocious raises were happening under Yabuki's watch as well.
Frank owns the rest of that list though.
You forgot taking away company phones, atrocious employee stock discount, key stroke monitoring