So many questions run thru my mind when I think of those 4,000 laid off. What is the benefit of losing teams of people with years and years of experience? Those people cannot be replaced easily, especially in these times. Those left behind are already at capacity and cannot possibly make up the work of 4,000 people! Anticipate a huge loss of good will - and why ? If an exec thinks that we, the front-line, think they care at all about the client or the associates they are as crazy as we think they are. The work to work plan is an ill planned debacle crushing the Fiserv spirit. Is there anyone with a backbone going to fight for us? It's obvious to a 3rd grader that taking on processes from a failing company along with their 17 billion debt was a bad decision - but let's add to it and keep that Pres in place to run a good company with amazing people in to the ground. Where are you Jeff? Of course this is an anonmous post because no one is allowed to say anything about the layoff due to the Fiserv code of conduct expectations that associates are held to when Executives clearly are not.
#jeffyabuki
27 replies (most recent on top)
@2huh+14QMAssn You don't get to dictate the terms of this game, little man.
@2mqw+14QMAssn Spooked prey makes the meat tough. Give it time, it will come.
LOL @2huh+14QMAssn sounds frightened! Talk tough some more, little guy! Wouldn;t want to be you on Monday LOLOLOL
The ITIL functions are the next to go. OFS staffs those functions with retreads and low performers. Complete synergy opportunity
@1tam+14QMAssn Some of you know who I am? So you have an IRL club to track me down? That sounds very threatening, I'm super scared. Send me an email since you know who I am, I'm looking forward to learning about your secret club. Unless you really know who I am and are afraid of what I might do to those who still work at Fiserv.
BTW I have no fear of being laid off today tomorrow or at any point in the future. Please worry about your own life and the guy who was laid off last week and lost his house this week.
As a shareholder no longer at Fiserv I hope there’s a PE play. That will give the stock a nice bounce so I can sell.
Premier had a team of 3 overseeing release management, and all were RIF’d last week. Additionally, all development roadmaps have been removed and are no longer accessible by frontline Service Partners, who periodically share this information with their clients. For a product, that is supposedly the flagship platform, what other reason could there possibly be for these actions, other than a future sale? This is pretty much a dead canary indicator. Fiserv is clearly being prepped for the world of PE. Say goodbye to the pressures of quarterly earnings targets, and hello to the pressures of quarterly EBITDA targets.
@1gea+14QMAssn Today's smug is tomorrow's bereft, and some people will only learn that the hard way.
If you think you can toady your way into keeping your job at Fiserv while acting like that, you're sadly mistaken. Some of us now know who you are by your writing style, since it is rather distinctive; your writing cadence and habitual errors were pretty easy to match up.
Sleep tight snookums, and have a good weekend. Oh, and welcome to the age of ML.
@1yfs+14QMAssn You are very gullible to believe your managers. They just didn't want to admit that THEY chose you. It is common for weak and ineffectual managers to blame someone 'higher' when in fact they made the decision and just don't want to accept responsibility. Also, I'll pass on the meet-up. Its not you, its me; I'm straight, happily married with 2 very spoiled kids. Sorry you lost your job, your house, your car, can't pay your bills and your kids are starving, but you have so much to offer I'm sure you'll end up in a more suitable role where you can offer fries with your life lessons.
@1wwl+14QMAssn So what you're saying is, you are responsible for turning the company into the p-sspoor state it is today? You said you were around when it was great and since it devolved on your watch you must be part of the problem. Great work guy! A+! Enjoy your early 'retirement' while those of us left clean up your mess.
Hey a–hole(@fro+14QMAssn ) if you had a clue or have been around as long as some of us old "Sunshine State Systems" employees, you 'might' have an inkling as to WHAT this company used to be(good) but take your opinions and insight somewhere else as you are CLULESS!
@fro+14QMAssn I didn’t say I’m already behind on bills or about to lose my house. What I am saying is with the current Covid crisis, companies are hunkering down and not hiring as freely as normal. I’ve been with Fiserv for less than two years and came here if my own free will and have not s—led anything, nor have I ever “s—led off the government”. I have never been asked to leave a job or laid off in my life. I just spoke to my boss AND his boss today who both assured me this decision came down from the top and they had no input about who stays or goes. It’s simply a numbers game to appease the shareholders. From your posts, I’m guessing you’re quite young and new to the corporate world. Especially if you think First Data and FB are not notorious for lay offs. My suggestion to you is a simple life lesson. Karma is a b–ch. One day you’ll be in a tough situation and you’ll regret the way you treated others. Best of luck in your future. Oh and the offer does stand, if you would like to meet in person I would LOVE to teach you a few more “life lessons” you can put on your resume
I have no idea why you’re in here attacking people who have just lost their jobs. I can tell you it’s been a very emotional time for us and your hurtful words are simply untrue and uncalled for.
@dfw+14QMAssn You were laid off days ago and you're already losing your house and behind on bills? Sounds like you need some financial management skills. Just s—le off the government for a while like you s—led off Fiserv for years. Go ahead you're entitled to it :-)
You’ve got to be kidding me “You were not essential enough to stay employed so s— it up and move on.” I have had excellent reviews and am loved by my coworkers and customers as were MANY of those affected. 4 THOUSAND PEOPLE Laid off through not fault of our own and your entitled a– as the nerve to sit here and tell me to s— it up??? I can’t feed my kids, pay my bills and we might lose our house but you tell us we’re not “essential” enough? I hope you catch fire. What a complete piece of sh–. You must be prior First Data. PLEASE let me meet you in person sometime, anywhere, I’d love to have a further “discussion” with you.
@hhs+14QMAssn Here come the entitled Frank-cronies out of he woodworks.
not your Fiserv? Ok Cool, You know where the door is? Good! I'm tried of all the nay sayers on here shouting about how essential they are. You were not essential enough to stay employed so s— it up and move on. For those still left, First Data leadership will find and eliminate you. The NEW Fiserv will move forward and be successful without you.
when I came to work at Fiserv I read the reviews , I couldn't believe the negative reviews on Indeed, Glassdoor, 9th worst place to work in the US, the place in all numbers based , among all the places I've worked this has to be the lowest , we push our software that hangs up , mobile apps crash , the mobile app server hangs up its one problem after another , I've never been at a place like this before , no wonder there are bad reviews on Glassdoor, Indeed
So now our customers go back to long wait times on the phones for someone, poor customer service , I know I'm not taking of the slack
Jeff is out! Frank is in!
Fiserv has been slowly blackballing itself for years. Nowadays, only the H1-B, desperate, or the naive will bother working for them in the smaller tech markets, because they simply burned too many bridges and word has gotten out.
When I worked there, I started with another person at the same time. He left within two months. He told me why since he heard about it from a friend of his who was an ex-employee, so he jumped to another job as soon as he could. I should have followed his example, but I was dumb enough to think that skill would trump executive greed and politics. Instead, I won the layoff lottery two years later.
Almost every other year now during the perennial Fiserv hiring surges, I get recruiters sniffing around my door asking if I'd be interested in going back to Fiserv. Even though I'm fully eligible to, I've always refused, and unless I ever become desperate, that will remain my answer.
Speaking for myself personally, I don't know of a single person who is disillusioned enough to even remotely think that any of the management cares one flying f— about any employee at all. No one iota.
There is such a misconception among us. We think, or we want to believe that the leadership of this company cares about the front line; cares about quality; cares about the customer or cares about me - the employee. We, unfortunately are sheep. “We care” but it is like pushing a boulder up hill and eventually, the boulder wins.......
For Fiserv, this is the very cyclical philosophy that has happened again and again. Regardless of the acquisition, look at the cyclical journey we have been on. Convenience and messaging has a lot to do with things too - maybe now more than ever.
Cyclical, meaning, quality drops; we impact clients; we lose clients, we impact clients lives and we end up in legal suits like the internal project planning and DCO implementation in Wallingford. We ramp up some brief change, we change one ineffective leader for another ineffective leader, there is a brief moment in time where everyone rallies around quality........until it is clear that it is unsustainable and another quality incident happens like February 16th 2018, then again in June and then again in July. The height of ugliness of such disappointing and inexperienced leaders. Who’s left that were forced to sit on those calls where those ineffective leaders used such disgusting profanity threatening everyone on the call. When you are a terrible, ineffective, inexperienced leader who really brings nothing to the table - you have to rely on disgusting profanity to try and save yourself - make yourself look relevant. You aren’t - never we’re!
Even after such a disgusting period - quality was cyclical. Short periods of improved quality where it looks like the dated leadership tactics might work AND then, a return to poor quality after that boulder of internal, toxic mess takes over and wins the battle.
It’s a culture that existed at Fiserv and now, it is worse than ever at this FD run company.
Now, because of this virus, we have a convenient excuse to allow poor quality to creep in again. We can dispose of years of talent. We can get rid of the only people who know how this ancient technology works. When that technology fails, when we inconvenience and disrupt customers lives - we can blame the quality on the hardship of the virus. It’s convenient. Blame something / someone. Put out messaging that is as shallow as a puddle. Embarrass yourself as a company, as a leader. Continue to deliver poor quality until one of your biggest bank clients threaten you with SLA penalties and contract default and start the messaging all over again - rah, rah, rah. Except, we don’t have any talent left - we got rid of everybody. All we have left are a bunch of desperate hacks that couldn’t cut it anywhere else - hold my beer - I’m going to lead us in a quality movement.
The people who call themselves leaders, who profess to be leaders should be embarrassed that even the sheep know that they are fools. It’s not about people, it’s not about of quality AND it’s not about the self-funded “most popular place to work / most respected companies” awards. Those awards are paid for by Fiserv - it’s a fact, look it up.
When quality gets so bad that we start to lose customers AGAIN - we will go through this cyclical pattern AGAIN. We will blame the virus. We will blame the people. We will blame the cost cutting of a billion dollars they will blame everyone but themselves.
There will only be sheep remaining. Sheep without any dedication, motivation or morale - just is sheep.
What we have here is a total insult to the FINTECH industry! Not all companies operate like this - other Financial Services Companies actually have talented leadership and run respectful operations and have technology that was at least implemented this century!
A big piece of the picture on why some teams are targets for layoffs is most of the management is Old First Data who honestly believe that anything Old Fiserv was working on can just be picked up and ran with by the teams they are familiar with. This attitude makes many Old Fiserv teams appear to be merely redundant work force and expendable.
I think you make valid points but if you think that when JY and FB weigh meeting earnings and making sure stock price is at a happy level vs keeping employees that actually know what they're doing....well as the saying goes, I've got a bridge I'm looking to sell.
Lot of managers at Fiserv are non technical and they have no idea in technology terms what the employees are saying they do a google search and decide who to give the work. The person giving technical ideas to non technical is like always trying to explain them and that leads to other problems as the manager goes and ask another person in team same question and gets multiple answers due to lack of knowledge of other team members. Finally the person giving proper answers is let go as the manager does not like them.
It is really interesting with the changes going on. I’ve noticed incidents are taking much longer and green engineers are stepping in for the talented people leaving or being let go. I thought the data centers were run poorly before, but it seems like Fiserv has inherited a bunch of amateur hour guys that just buy new tools.
Bottomline, talent is leaving the company, decisions are being made ad-hoc without regards to impact (They are running the first data playbook) and when things break no one seems to know how the knowledge of how they worked. Client will start getting upset enough to leave the company as they did about 4 years ago for the same stuff, and I would expect it to occur when contracts come up.
Long term outlook of Fiserv is looking pretty bleak with its current management.
I think that we hit an inflection point this week; this recent RIF and those that are supposed to be coming could and probably will really blowback from a client perspective, could really blowback from a brand perspective; the latter is less likely because COVID-19 provides the perfect air cover for it all to go unnoticed.
Everything seemed short fused and based on numbers on a spreadsheet rather than any kind of logical order. Some people now have many, many more direct reports and didn't know they would be getting them until right before. It's an uncomfortable feeling, and we're being asked to feel and behave normally about it. How can we?
I can only hope that someone at Earnings will bring this all up, but I'm doubtful, and don't think we'd get anything more than a scripted response. I have lost faith in our trajectory...I'm looking around. It's a bad time to do it, but it feels like the writing for the direction for the company is on the wall...and I think it's time to find the door.