This is the decision FB has to make in 2023. Bigger: acquire more companies that directly compete with Fiserv or that have adjacent technologies that he isn’t willing to invest in developing in-house. Or…split the thing apart. Yes it’s true: Clover is all he sees. The merchant side of the business is what he cares about. Will he figure out a way to sell off card issuing and other businesses? Either way, the current company make-up is not sustainable. Not if double-digit growth is the goal.
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99 million is only the equivalent of 5 CEOs. That would be about 43,995 people left at Fiserv.
$99 million in severance in the last two quarterly reports. Isn’t severance up 6 months of pay? Every $1 of severance equals $2 of annual pay. Based on the current run rate that is equivalent to nearly $400 million in annual salary that has been let go. Wonder what Q3 will be? Trending to be a much smaller company. Long term clients leaving. Interest rates rising. More layoffs ahead as revenues shrink and interest expense soars
Hello Frank or one of his minions. We appreciate you enlightening us. But as usual you don't know what you are talking about. WAY more than 200 people RIF'd out. Including people who had worked remote long before your du----s came along with years of experience. So go pound salt.
Last quarters earnings lol. The ones bolstered by massive layoffs?
I'm remote. There were something like 6000 of us prior to the pandemic, after fiserv spent years flattening business units and closing physical locations. Now that Frank is in his Delorean taking us back to 1985, if there really are only 200 of us left please just severance us out and be done with it.
PS - we aren't at 44k any more. It's like less than 36k. That is your "earnings". I'm watching my BU tell clients no, fail on projects, due to mass understaffing, and defections of key employees.
The 200 of the 44,000 guy is back! Perhaps you should read Frank’s recent comments. Realize that double-digit growth is not something he can do on his own. He never has. He has to acquire or divest.
There is no rationale for your nonsense...the company is performing exceptionally well. Yes 200 of 44,000 don't like having to come into an office we get that...but breakups occur when a company isn't doing well --- see NCR.
Fiserv is an exceptional performer --- see last quarter earrings.