Thread regarding Fiserv Inc. layoffs

We pay for Frank's mistake

When I joined Fiserv, Jeff Y was running the company and all was well. Fiserv and First Data merged and next thing I know Jeff is retiring and Frank takes over. Frank decides to move the mgmt to NJ from WI and buys a huge building that he needs to fill to get a huge tax break from the state. So, not only do a lot of families have to move to NJ, but the entire company stops allowing remote employees and staff MUST work from an office and ALL new hires have to be working in the NJ office. This strategy didn't work and Frank didn't meet the employee numbers he needed and the company DOESN'T get the tax break it expected. So round two of layoffs for 2022 is taking place and there are more to come.

FRANK, please get your head out of your a-s and think of ALL the people that work below you instead of just for yourself. Do you even care how many people you are affecting with your poor management skills. People that have worked at FISERV for 15, 20, 30 years were either leaving on their own because you were making them work in an office for the first time since they were hired. Or, you were letting these senior people be laid off because you didn't think they were needed, when most, if not all of them have more knowledge of DNA in their pinky than you have in your entire body about how DNA functions.

Just because Frank's interest is with payment systems, he seems to forget that the body is made up of many body parts and each has a valuable function. If DNA wasn't making money I could understand running it into the ground. DNA helps bring in the money you need to buy all these little payment companies that you like to play with Frank. What is going to happen now?

Am I upset I was let go this week, yes. Will I ever work at FISERV again, he-l no. That place has no regard for their employees. As a lot of people have said, leaving FISERV was the best thing they could do because they found themselves better of. I'm hoping in a month or two I will be thanking Frank for letting me go and finding the job of my dreams.

For those left at Fiserv, I hope you are not being overworked and worked to the bone. Don't give that place your time or health. They are not worth it.

Thank you, rant is over. :)

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Post ID: @OP+1jcIGBa6

9 replies (most recent on top)

Sale of the core would only work if the buying company was going to add investment to them. Most companies would try to cut off the fat to make them more profitable.

Not a good time to be working on a core.

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Post ID: @2rmh+1jcIGBa6

Sale of cores is the only hope for the CU and Banks stuck with Fiserv, otherwise they have no choice but to go through the painful process of deconversion. For their sake, hope it happens soon. Most of us loved our customers.

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Post ID: @1wqn+1jcIGBa6

Frank is not a leader and the fact the board has allowed this man to continue his reign is why I've chosen to leave the company after 20+ years. I feel sorry for the people I've left behind because they are going to struggle as all the SMEs are now gone. The only outcome that can happen to change the direction Frank has set is enough top performers leave, Frank panics, and changes his horrible company policies, and starts focusing back on employees and clients. Even then I don't know if it will be enough to bring people back.

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Post ID: @1dpm+1jcIGBa6

another coverup of him SVP are being fired and they are calling it as retired..

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Post ID: @ksd+1jcIGBa6

Post your message on Glass Door so others can see it. Thats where potential employees go to look.

Frank is following his normal play book. He cares nothing about people or historical knowledge. He believes everyone is replaceable. He did this when he joined First Data and is doing it again with the legacy Fiserv biz.

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Post ID: @cpw+1jcIGBa6

You're under the assumption Jeff retired. I understand Frank went behind his back (presumably to stab it) to the board to have him removed. He chose to say he retired. I believe Jeff was a decent enough guy - when you don't think like an evil person you don't think it could happen to you. Its a shame on many levels. Special place in hexx for Frank.

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Post ID: @qpl+1jcIGBa6

FB/Guy don't care for anyone other than them. Italian mafia is ruining this place.

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Post ID: @gur+1jcIGBa6

I'm 100% convinced he's leaning things out in prep for sale. For core banking at least. JH? FIS? Who knows. The real question is will he force himself into the new management or take his money and retire when that happens? I sure hope it's the latter. JH and FIS don't have antiquated policies on WFH. Maybe they'd reset things if he bows out.

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Post ID: @qet+1jcIGBa6

You forgot to mention the debt that Fiserv took on when the merger occurred and the debt that Frank keeps adding... he has no clue what leadership means.

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Post ID: @jjv+1jcIGBa6

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