Sadly this is true. This place is making more layoffs than you can blink. No region will be spared. This is not fake trust me I’m involved in the discussions.
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@ae the details are on fuel. Depends on your pay grade and tenure. What su-ks about it is the huge tax hit you have to take when they pay out the severance.
When are these layoffs planned? Is it cost or performance based (ie take out teams on low-yield products vs stacked choice ranking trim 20% of every team)?
Feels like this place is in a death spiral anyway. Even if survived this round feels like would already be lined up for the next one. They have zero answers for how to actually win back market share as they aren't willing to invest in actual long term fixes. Everything has just been short term survival till next quarter talk even with the new leadership.
And to top it off they've backed clover as the growth engine. When it's a rubbish product in comparison to much more nimble competitors out there. And also one of the tightest margin spaces that exist in payments.
When?
What sort of severance does fiserv pay? Anything above statutory requirements like other tech companies
Get rid of svps. Simple. Stop frikin having people who do nothing but only absorb cost savings into their pockets.
So they waited until JG was out the door until they performed a mass layoff. How deliciously evil. He loves layoffs, so by waiting until he is gone it is the ultimate F U to him.
Lissen, buddy, lemme tellya...this new gig I got ain't no walk inna park, arite?!
They got me on dual duty over here, as NOT ONLY! the Commish uh Shosh Secure-ty,
BUT ALSO! as CEO uh duh frikkin' Eye Are Ess!!
I don't know if I'm comin' or goin', what wit all this here happening.
I feel like I'm in that painting in Goodfellas...One dog goes one way, the other dog goes the other way, and this guy's sayin', "Whadda ya want from me?'
I know. There are massive cost cuts coming. Ironic to hire more svps and vps though who do nothing and no wonder no costs get saved
Yes its true. Its happening quietly already. Its worse than frank era.