Thread regarding Fiserv Inc. layoffs

FB’s philosophy on layoffs...”never let a good crisis go to waste”. I’m sure we will see more news on this next month with Q1 earnings.

Has there been news on additional layoffs due to the covid crisis. Trying to understand how badly revenue is being impacted. Most revenue is recurring and planned but if transactions are down I fear how Fiserv might react and use that as an excuse to reduce staff even more. Any insight is greatly appreciated

Frankie B likes to come in and promise the stakeholders profits that are generally accomplished by laying people off and then creating almost impossible scenarios for their employees (60 hours a week +) to meet promised deliverables. This has created for FD and is creating in Fiserv a toxic environment. Stop treating your employees like c-ap. Let’s replace a senior management person who accepts millions in compensation but lays off his employees to appease stakeholders. Get rid of Frank’s boy.

Biggest mistake the company ever made. Took on unnecessary debt and screwed over their employees. I worked fir FD under Frank and it was a nightmare. The Fiserv culture has been completely destroyed.

Fiserv is a good company to be FROM. Looks good on the resume. Glad I got out when I did as it will be tough for associates to find new jobs at the moment.

I feel most sorry for the Dublin employees going through layoffs right now, as scheduled.

I was there for the acquisition too. Tom had a legit man crush on frank. Looks like he got layered to not be a direct report anymore. Bet that was a bad breakup

@1qzm+14e5x5Ri I am not at Fiserv now but I promise you that when news came out over a year ago it was totally positioned as an acquisition. Many of us at OFS were thrilled at first then horrified when reality hit us.

I have some shares so don’t wish the company to collapse, at least until they recover and I can sell them. Then they can go to hell.

Here's what I find humorous about the whole thing, Jeff thought he was doing something positive for Fiserv and he was flat out wrong. The numbers will bear this out. Additional mistake was not acquiring First data but letting First Data (the smartest guys in the room, some of you will get that reference) takeover. Their management style will s— the life out of every employee there and will completely de-motivate you.

It was really Jeff over reaching. He’s had a really nice run with great returns But he’s surrounded himself with a– kissers like Tom allanson who encourage him to write books about his strategy. Not realizing that part of his success his timing and luck. Not there is anything wrong with that if you understand that fact. But jeff went into a mode where he wanted to be a star businessman. House on the beach surrounded by celebrities. From there do a big deal with a Jamie Dimon guy and he was thinking he’d be the next jack welch. But frank was smarter and then the pandemic hit. Big risk and got burned. But Jeff will get his $1.2 billion in synergy but not his revenue gains. So he’ll need to up the synergy number even more. $2 billion is not an unreasonable estimate. This is a pretty fair assessment

Feel free to call it what it was, a takeover from the Corp raiders at OFD. Clearly, OFD mgt had pictures of JY in compromising positions. Otherwise, it makes no sense for OFS