It is incredibly difficult listening to this call. We care about Clients!. A large portion of the Company just lost Staff. We are being tasked to do more with less. What universe is FB living in? Frankly, listening to this is even more demoralizing.
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It doesn't matter if I am in person for a meeting or Teams to collaborate. Infact' if I am on Teams I am multitasking. Being in the office is actually less productive.
I love the part where they told everyone to applause.
Frank kept checking his phone to see if Fox Business was going to have him on today
Once upon a time the Titanic was touted to be unsinkable. Hmmmm….
Yes there was a Town Hall today and yes the above comments are spot on. Frank spent the first half of the meeting playing on his phone. When he did speak his words were jumbled and incoherent ramblings about fast food joints. The stuff about clients wanting staff back in the office was more than just BS, it was downright insulting. Clients don’t care where anyone works from. They (rightfully) care about results. The entire time it felt like fluff was added to pad the meeting time to not allow for Q&A. Sure, anyone can add their comments to “your voice” survey. A sure ticket to being next in line on the layoff list. The whole thing was embarrassing today. No real content. No empathy for the many lives impacted from the RIFS. Those on that stage have clearly sold their souls.
FB is a hot mess. GTFO for the good of the rest of the planet.
The few times they stopped to pause for clapping for themselves was an absolute joke.
If you needed any more reasons to close the door on your FBserv career... We made "investments" of 1.1B in capital improvements for products, but 700M was acquisition...leaving 400M for existing product/platform care and feeding...that doesn't really seem like a lot. We (try to follow along here) provided value to our shareholders by spending 1.7B in stock repurchases... Let's just let that hang in the air a minute. We provide value to our shareholders, by buying them out. But for closing thoughts, lets list all the fast food restaurants Frank can think up off the top of his head... The self-congratulating back slapping was painful. As was our CEO continually fumbling with his cr---h phone. Stock down 2.88...Wall Street wasn't quite as excited. Someone also needs to collect the coffee cups from HPs office! On the plus side, the gang clearly controlled the messaging so no one spoke to the RIF and expense pressures...
I had a interview today and they asked why I was moving on from Fiserv who is a giant in the game. I told them it wasn't my choice it was because they no longer want remote workers. The look on their faces was so good with a puzzled look and a this is the Fintech company Fiserv. Haha! Just too perfect.
This RTO stuff is being pushed by the big financial institutions which are heavily invested in commercial real estate... they know if trends continue there will be a lot of big $ loans that will default, investments that will drop like a rock and they are scared sh*!less
That "clients want us back in the office" schtick is bar none the d-mbest line of nonsense they continually trot out, and that's really saying something. Most of the people I work with are spread out over different offices in different states and there is no "collaborating" either. It's all Teams calls and screen sharing. I can do that from anywhere including home.
I started at Fiserv years before Covid and you know how many clients I interfaces with at the office over the years? Zero. Zip. Zilch. It's absurd. It's all just big brother monitoring. Slimy and gross.
$3 Billion not Million
Such an 80s/90s mindset. When Guy brought up how it was before Covid and getting back to that. That the clients want us in the office and collaborating. No the clients want support people to help them, be knowledgeable, AND available.
Did I hear that correctly? We "invest" $3 million in actual innovation.
That seems low, but if feels right.
I like the part where he had twenty minutes left, then just started listing random companies. Then eventually, we are five minutes over, so we only have time for one last pre-selected question. No time to actually give the employees a voice.
If you can’t support your associates fairly with great compensation and benefits FIRST…with paying Shareholders your top priority and servicing clients second to none…you can’t have or expect it all to work together…I couldn’t watch much
Pretty sure he was rambling to eat up time and not have time for an actual Q&A.
The town hall meetings are all fluff and no substance. FB rambles on like a mindless drone. He’s so hard to listen to.
Wasn't there supposed to be a town hall today or is that the one your talking about?