These massive RIFs are indicative of a reactionary CEO that can't manage expenses or forecast them. It should be a point of embarrassment vs badge of honor for "managing expense pressures."
While continuing to tank productivity, quality and morale and revenue most likely. It is incomprehensible as to how this joker has any credibility on Wall Street.
This implies there is leadership here. There is no leadership here at First Data Fiserv
The exec leadership has no ba--s... FB keeps carrying the clown group where he goes. it's the same story playing out that happened at First Data. Make the org lean, lucrative so you can sell the soul out in a whim. You and I are just numbers on a spreadsheet... not worth sweating it out here... Keep enjoying the MoonShine while it keeps flowing.
I don't think anyone in Tech knows how to deal with things any longer. It's not just Frank. It's all the things allowed in accounting now. Relocationbexpense, severance expense, labor expense, etc... Post COVID I don't t h ink CEPs know how to handle things. It doesn't soften the blow if yiuvare laid off though.
Maybe he would do more if we paid him less?
But he is o e of the highest paid CEOs in the country. That’s why we need to do more with less