Thread regarding Fiserv Inc. layoffs

RIFs are happening and will continue to happen

Anticipating a rough holiday season the execs are tightening “our belts” not theirs. The RIF is absolutely happening unfortunately. Just once during these exercises I would like to see our execs say I realize times are tough and will take a pay cut myself. I really don’t need to take an annualized salary of 50+ million this year. Instead those impacted are going to have to worry about how to feed their families during the holidays amongst some of the worst inflation in the past 40 years.

Taken from @1kgt+1iVThGr0 because OP is 100% on point.

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Post ID: @OP+1iXDDhHn

6 replies (most recent on top)

Fiserv is headed for serious trouble. Most of the knowledge and talent has either left already or was “retired”. They cannot attract new people with knowledge or talent. So what is left?

  1. Lots of “yes” people and snake oil peddlers that don’t really do anything but talk a good game
  1. Fresh college graduates that are desperate for their first job or MBAs who think textbook = reality
  1. People who cannot work elsewhere because their skills are terrible and they suck at their jobs
  1. People who are stressed out and hope things will get better but feel like they are trapped and drowning

This is the toxic company that Frank built. It’s a hollow shell of a functional organization, and things are only going to get worse as long as he remains.

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Post ID: @1awr+1iXDDhHn

Remote contractors are first in line in our BU

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Post ID: @duk+1iXDDhHn

Getting my resume revamped professionally. Still employed at Fiserv but there are not many happy people there at my office. Chance favors the prepared.

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Post ID: @axe+1iXDDhHn

(R)educton (I)n (F)orce. For some reason they think giving "layoff" a different name somehow makes it better.

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Post ID: @qyw+1iXDDhHn

D-mb question: what’s a RIF? Assuming it’s not “reading is fundamental…”

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Post ID: @pab+1iXDDhHn

You need to understand the new world order. Associates are not valued. They are corporate assets...like a chair. And a pesky expense...to be managed as an expense. The company will manage its assets as it sees fit. Should executives who cannot forecast expenses or manage a company be held accountable? Certainly not to associates.... I know the tax treatments are different...but issuing hundreds of severance packages paid out in Q4 sure seems like an "expense" spike to me...not my pay grade. Frank-enstein has shown only tricks and no treats since his elevation....

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Post ID: @hkc+1iXDDhHn

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