Thread regarding Fiserv Inc. layoffs

Public information you should know

As an SVP, I will not be here today without a very talented team that made my job fun, look forward to the next day , our associates took care of our customers 24/7. God bless them and their families. Amazing folks. Very deep cuts tomorrow. I will share with you public stuff you may not know about the family business:

Frank operates like a NY mafia and changed the prestigious Fiserv name to Fiserv and Family Inc:

  1. Morgan Besignano (aka Mrs. Lituchy) married (2016) to Sam Lituchy - A Fiserv VP (New York)
  1. Alexa Besignano, from a post I read here, getting married (2022) to Pete Niotis - Another Fiserv exec. (New York)
  1. The prestigious Fiserv name is gone! Hard work has no meaning. Both will have a job on Monday. Every one in NY has his back.
  1. If you google Alexa, Morgan Lituchy and FB, search results and pics from BFA.com suggest they are in NYC Galas every night. In one dining table, i counted about 20 bottles of wine! This explains his speech impediment issues.

Look 18 months ago we converted from the top notch vanguard institution to ML. One reason , ML is in NYC and friends of the Galas!

Why would Frank follow the tradition of the 3 previous CEOs and report to Brookfield for work? Noooo! Brookfield is a backward town for him, he needs to run a family business and attend the Galas! Of course be close to his little grand son. Instead, he wants to get all peasants to NJ , few miles away from him, He absolutely does not care about you, your family, your community or our customers. He-l with your kids and your grand kids. His grand kid matters to him more than Fiserv, and he won’t move to Brookfield, but if you don’t relocate, you have been let go or will eventually be fired.

Folks, this is a serious matter. Something must be done! Where are the Wall Street analysts? Where is the Fiserv board? Where are our customers? We need help. The only thing that gets investors reaction is Fiserv stock devaluation to $30 or our customers to start sending letters to the board.

A lonely SVP without authority, but with an amazing skeleton crew. Are you willing to give up at this stage?

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Post ID: @OP+1iZpfl9c

17 replies (most recent on top)

I left Fiserv over a year ago and thank god. I was so unhappy there and not proud of their promotion and compensation strategies at all, among other things. I left because I let it get to me, and I started being rude to those around me, many who didn’t deserve it, but some did. Regarding Sam Lituchy…just gotta say, that guy is pretty sharp. Not going to be a popular opinion here but he always impressed me (I was an SVP). Bisignano is not a popular guy, but he doesn’t suffer fools. Lituchy is effing smart.

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Post ID: @4spe+1iZpfl9c

This turned out to be completely BOGUS

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Post ID: @4euz+1iZpfl9c

Yes, it was simply an oversight. I am human. I am totally drained by this and actually expected to run a profitable business with 35% crew. I meant Monday and some BUs on Tuesday, sorry for the confusion.

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Post ID: @2iez+1iZpfl9c

I agree with @1msh+1iZpfl9c,

So, what did I miss? Where are the rumors coming from about a layoff this coming Monday?

The OP posted on Saturday about 'Very deep cuts tomorrow', which would indicate Sunday/today. This makes me think the OP posted this from another country/timezone, where it was Sunday for the OP, but Saturday for the US.

Could be a simple oversight, or just could be someone from across the world messing with the folks here.

Guess we will find out, tomorrow!

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Post ID: @1sge+1iZpfl9c

More I learn, the more I feel absolutely gross working for this company and earning a paycheck from such shady, disingenuous people and practices. I know so many examples of this mafia mentality. Way more than just these two. It goes beyond family and friends. Many senior leaders are below board, not just Uncle Tony and Frank. I desperately wish I could quit or be RIF’d. I’ve raised my hand more than once over the last year and they won’t let me leave. It’s he-l. I can’t afford to quit. Can’t find something else right now and am sick to my stomach every Sunday. Truly awful.

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Post ID: @1onj+1iZpfl9c

@1msh+1iZpfl9c

Not a rumor, it is fact, thanks to all directors, managers, vps, svps , and individual contributors uniting and sharing info!

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Post ID: @1pyj+1iZpfl9c

So, what did I miss? Where are the rumors coming from about a layoff this coming Monday?

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Post ID: @1msh+1iZpfl9c

The most recent reply to this post is the best analysis of the situation to appear on this site. First Data was under siege by this creep long before the crooked merger went down. Talented and dedicated staff have been brutally excised over the years because this jerk thinks he runs an equivalent of JP Morgan Chase. He does not and never will.

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Post ID: @1fcl+1iZpfl9c

Be aware that only the Fiserv name remains from the merger. And there is no guarantee he’ll keep it. It’s common for a struggling company to rebrand itself. Given the trend towards single word corporate names like Meta, Alphabet, Toast, etc., expect something like that one day. Maybe Data. Or even Frank. And for old Fiserv folks understand that it was always a First Data takeover even though the money was flip-flopped. Frank was always going to win. Brookfield will not even be around let alone the hq. Give it time. It was probably negotiated in the merger. And don’t blame ex First Data. He did the same to them when he took over in 2013. Atlanta., Omaha, Coral, Hagerstown all can’t stand the guy.

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Post ID: @1eqm+1iZpfl9c

I am a remote employee. I was hired as a remote employee. Every single member of my team is remote. And none of us are near an office. I have no intentions of moving to New Jersey. I hope my team is spared. But knowing FB’s track record, who knows? I’m praying for my fellow associates.

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Post ID: @1wgl+1iZpfl9c

Yes I think Monday is to be a tragic day

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Post ID: @rof+1iZpfl9c

And just try to find information about the FiServ board and board meetings…this should be public knowledge and it’s hidden….

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Post ID: @qky+1iZpfl9c

So much for being OAs. With the Zo being owner

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Post ID: @hpv+1iZpfl9c

Thank you, SVP!
Per the form 8K filed with SEC in DC , you are correct. It is not illegal, however, is it ethical? would Sam Lituchy progressed to where he is today without Frankie?

His lawyers will be all over you! It is disgusting , but let it go, let’s focus on the issue - FB must go!

The filing has this:
Mr. Bisignano’s daughter is married to a current employee of First Data, Sam Lituchy. Mr. Lituchy currently has a base salary of $165,000 per year and is currently eligible to receive incentive compensation.

Disgusting! Now it is more, I just grabbed 2019 filing.

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Post ID: @swu+1iZpfl9c

I am a director of an original fiserv team and myself and most of my team is remote (except for those recently hired to be in an office). I am very concerned myself and team.

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Post ID: @fha+1iZpfl9c

One had a negative reaction to the post. May be Sam? 😂😂😂😂😂😂😂😂😂😂

Great post! This is a public company, not a Besignano playground. Let’s unite and save this company, whatever left from it.

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Post ID: @aun+1iZpfl9c

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