Hello! I cover Fiserv for the Milwaukee Business Journal. I'd love to interview employees or former employees about their experience working for the company. If you're interested, particularly if you're open to speaking on the record, please consider reaching out: tnykiel@bizjournals.com.
https://www.bizjournals.com/milwaukee/news/2021/09/29/fiserv-hq-will-remain-brookfield-consolidates-hubs.html
27 replies (most recent on top)
I'll guess a total of $165 million for the year - adding $120 million from Sept onward to the baseline of $45 million already recorded.
You REALLY want to fire humans to spend that much 😂
One nugget here..
Fiserv recorded $45 million in employee termination costs in the first nine months of 2021, compared with $105 million in the same period last year, according to the company's third-quarter earnings report. It recorded a total of $131 million in employee termination costs for all of 2020, up from $32 million in 2019.
As WE know the majority of the involuntary separations began in September..Bets on how much $ is paid out in 21..
teddy if you were just looking for happy fiserv employees you came to WRONG place. If you want to real skinny read on there are many posts so many any journalist would conclude where there smoke there is fire.
There is nowhere near 900 in Brookfield. Maybe they are counting the ones that work on Brookfield projects and IT infrastructure from other locations. Even still it's a very inflated number.
I’m disappointed in that story. It really doesn’t address anything we have shared. Nothing but a fluff piece.
Here you all go. I paid for it. You're welcome.
By Teddy Nykiel – Reporter, Milwaukee Business Journal
4 hours ago
As financial technology firm Fiserv Inc. consolidates its U.S. offices, employees at locations the company is exiting have the option to relocate.
"Associates based in locations we have chosen to exit can relocate and are encouraged to pursue internal opportunities at any other Fiserv location," Fiserv vice president of external communications Ann Cave said.
The company declined to name the locations that the company is exiting or the number of employees impacted. It has around 25,000 U.S. employees and a total of around 44,000 worldwide. Around 900 workers are located in Brookfield, where the company is based.
Since its $22 billion acquisition of First Data Corp. in 2019, Fiserv has closed or is in the process of closing around 100 U.S. offices as part of a new consolidated location strategy, according to a September memo from the New Jersey Economic Development Authority regarding tax incentives for a new Fiserv location in Berkeley Heights, New Jersey, that would bring 2,000 jobs there.
Fiserv (Nasdaq: FISV) previously told the Milwaukee Business Journal that it intends to keep its headquarters in Brookfield, one of the seven hub cities it's focusing on as part of the location strategy. The other hubs are Berkeley Heights; Alpharetta, Georgia; New York City; Coral Springs, Florida; Omaha, Nebraska; and Frisco, Texas.
In addition to those hubs, Fiserv will continue to have "numerous" other locations, Cave said. She declined to name those locations. On its careers website, Fiserv features Atlanta; Lincoln, Nebraska; Hagerstown, Maryland; Indianapolis; and Sunnyvale, California, among its U.S. office locations, in addition to the hub cities.
Fiserv recorded $45 million in employee termination costs in the first nine months of 2021, compared with $105 million in the same period last year, according to the company's third-quarter earnings report. It recorded a total of $131 million in employee termination costs for all of 2020, up from $32 million in 2019.
@1kcn+1dEN4HZz Something is seriously wrong with you if you think the person authoring the story about corporate greed, unfair employment practices, potential corruption and political games by the C suite is the problem INSTEAD of the actual perpetrator of all those things?! LOL..... You are so defensive YOU MUST be one of those at the top. Well narcissist, the employees, customers and now the rest of the world are on to you. Take your gaslighting elsewhere. Good luck.
Would love to read the story. And what Ann had to say about it.
I wish I could read the article! Anything noteworthy in it.
looks like Teddy wrote this story published today:
https://finance.yahoo.com/m/12c59b93-8bb3-31c1-b0ce-90512759981c/fiserv-employees-in-locations.html
Look into Sapience and now it’s been deployed across Fiserv
It would be terrible if a bunch of employees were about to be fired. If they were fired, then they wouldn't have any non-disparagement agreements in place. There would be nothing stopping these soon-to-be-former employees from talking to reporters and saying terrible things. If they knew that the terrible firing was coming ahead of time then there would be nothing stopping these employees from talking to a reporter right now. What is Fiserv going to do, be terrible and fire the employees a few days earlier?
Don't listen to me, I have terrible advice.
Terrible.
Sorry, i would be highly suspect th6st anyone would go on the record. What we are saying on this board is true. It is an awful environment and all changed avter the ceo was put in place,
Truth - WFH is being eliminated except for those positions that are classified as work from the road, think sales
Truth - work from the road peple are being asked to swipe their badge x times a week
Truth - office staff needs to swipe their badge 3 x a week if not, they are called by their VP
Truth - tenured, knowledgable people are being told to move to an office or lose their job
Truth - some were not even offered a chance to move
Truth - customer support is suffering
truth - morale is in the tank
Truth - the great resignation at Fiserv is real due to retirement, other opportunities, or mntal sanity
Truth - people don't respect the new ceo
Truth - benefits have decreased since the merger
Truth - raises suck
Truth - Fiserv no longer pays for phones, yet expect sales and support people to foot the bill or allow a Fiserv app on their phone
Truth - FB has brought in his cronies
Shame on you coming to this site soliciting like a door to door salesperson. If you want a story what don’t you write about the scumbag yapucki who was fired.
I'm sure alot would give an interview but not sure about ramifications. Dig into how many people have left, are leaving and continuing to leave. That would be an interesting read. All because Frank is a Narcissistic @sshole and lives in the 90s. Nothing but deceit from Frank, Guy and Pete. I gave an exit interview and laid it all out
All the former employees had to sign a non-disparagement clause to get their severance so talking to you will cost them a fortune.
You should cover Fiserv's repeated violations of the National Labor Relations Act.
https://www.nlrb.gov/search/case/fiserv
you can background your story by researching the JP Morgan scandal, and the fact that the "Three Amigo" sc@mb@gs are all high ranking members of FiServ
Is Brookfield still a hub? New Jersey will be corporate in a year unless Wisconsin can come up with better tax credits.
Be careful or the new york mafia will come after you. :-)
If only the wifi walls could talk, you would get an interesting earful.
Ummm.. aren't all employees required to direct such questions to the public relations department?
I could be wrong, but I don't think employees are even supposed to go on record saying something as positive as , "I'm glad my company is staying in Brookfield".
I’m sure you could write an amazing story just from the comments on this site about Frank the tank. Most won’t risk jeopardizing their severance to give this topic airwave time. But it IS a story that needs to be told. Frankserv is falling apart….
Make sure you call it by its proper name - Frankserv
Off the record / on background would be OK too
I'd love to speak to you but I won't risk getting fired or sued by Fiserv!