Thread regarding Fiserv Inc. layoffs

"Seven go forward locations"

I've seen a few comments on here about Fiserv having "seven go forward locations." Was this announced or just a rumor? Other than the obvious New Jersey location, what would these locations be?

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Post ID: @OP+1dgGxXBP

17 replies (most recent on top)

Hagerstown MD will be a active site. A group of 45+ was told that was their relocation option today.

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Post ID: @2mqm+1dgGxXBP

The facility in Atlanta Fiserv built, they sold and now rent , shows they have no commitment to Atlanta can leave at any time, Georgia tried to get Fiserv to come to Georgia with the NJ office , but NJ won out

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Post ID: @1noi+1dgGxXBP

@lvw+1dgGxXBP But that's not a press release, that's a news article referencing a "memo." I believe this is the memo https://www.nj.gov/governor/news/news/562021/approved/20210929a.shtml

However the news article says "the company has closed or is in the process of closing around 100 U.S. offices as part of this initiative, the memo said."

Nothing along those lines is in the nj.gov post. This article is referencing something I cannot find. I guess i'll email the person who wrote the article.

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Post ID: @1nwp+1dgGxXBP

7 large campus locations…we have 40 more smaller locations such as Chicago, Pittsburg, all of our output sites, etc…

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Post ID: @zop+1dgGxXBP

From the press release (had to be sneaky and print screen before the paywall shot up, lol) I typed this out from the screen capture, hope y'all appreciate the effort.

By Teddy Nykiel, reporter Milwaukie Business Journal
Oct 8th, 2021 11:30 AM EDT

As part of a new location strategy, financial company Fiserv Inc. is consolidating its U.S. offices and focusing operations in Wisconsin, New Jersey, Georgia, Nebraska, Florida and New York.

The company's headquarters will remain in Brookfield, Wisconsin, which it considers one of its strategic locations, according to Ann Cave, a Fiserv VP of external communications. The other locations are Coral Springs; Berkeley Heights, New Jersey; Alpharetta, Georgia; Omaha, Nebraska and New York City, Cave said.

Fiserv (Nasdaq:FISV) announced it will add 2,000 jobs in New Jersey by establishing a new Berkeley Heights for technology and product research. The $105.6 million project will receive $109.2 million in tax incentives over seven years from the New Jersey Economic Development Authority (NJEDA), according to a NJEDA memo.

Fiserv began evaluating its national real estate footprint after its $22 billion acquisition of First Data Corp. in 2019, according to the memo. the company has closed or is in the process of closing around 100 U.S. offices as part of this initiative, the memo said.

Fiserv Inc. is looking to concentrate its presence in approximately seven cities or 'hubs' across the U.S., the memo stated. "Accordingly, Fiserv Solutions will be evaluating its remaining locations to determine whether it is most appropriate to consolidate, expand or exit a given geography."

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Post ID: @lvw+1dgGxXBP

That bizjournals references a "memo" but never provides the actual memo. Where can I see the actual "memo?"

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Post ID: @brt+1dgGxXBP

Didn't the Texas deep freeze and the pandemic teach us that diversity in locations is a good thing?

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Post ID: @atu+1dgGxXBP

Wake up. In a great bull market run, Fiserv is down 15% overall. Does that scream operational excellence to you

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Post ID: @qop+1dgGxXBP

Yes, its public knowledge.

As part of a new location strategy, financial technology company Fiserv is consolidating its U.S. offices and focusing operations in Wisconsin, New Jersey, Georgia, Nebraska, Florida and New York.

https://www.bizjournals.com/southflorida/news/2021/10/08/fiserv-hq-will-remain-brookfield-consolidates-hubs.html

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Post ID: @kak+1dgGxXBP

@jzg

Frank knows most people won't want to commute from Lincoln to Omaha. Lincoln will almost certainly be shut down in the long run.

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Post ID: @apq+1dgGxXBP

I heard hubs. So like Nebraska is a hub because of Lincoln and Omaha. There wouldn’t be room to shove all of those people in those buildings if they closed one of those locations down.

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Post ID: @jzg+1dgGxXBP

Oops, yeah meant to type 'Coral Springs' instead of 'Coral Gables'.

Either way though, it's gonna be hot a humid as !@#$.

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Post ID: @lyb+1dgGxXBP

Coral Springs is the right location in FL. (Coral Gables is also in the Miami metro area, must have been a fat finger)

I know some of my friends who were given Houston as a relo option. Doesn't make much sense if Houston is not go forward.

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Post ID: @dyc+1dgGxXBP

For sure: Berkeley Heights, NJ; Alpharetta, GA; Coral Gables, FL; Brookfield, WI; Omaha, NE; Houston, TX (production for FOS)

Maybe: Frisco, TX, Sunnyvale, CA, other production sites like Indianapolis. Not sure what the long term plan is for Indy.

Rumor: Pittsburgh

Kent, WA production is being shut down and transferred to Houston.

When you count 'production' sites, there may be more than seven 'offices'. The production sites are much more like warehouses than cube farms, however.

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Post ID: @nsc+1dgGxXBP

There are only six. Alpharetta, Coral Springs (FL), One Broadway (NYC), Berkeley Heights (NJ), Brookfield and Omaha.

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Post ID: @hso+1dgGxXBP

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