Here's our latest story -- https://www.paymentsdive.com/news/fiserv-sheds-korea-unit-3q-milwaukee-move-headquarters-payments-third-quarter-earnings-cuts/635122/
We continue to follow what's going on at Fiserv. Thanks again to those who've reached out or shared their time with me -- would love to speak with more of you. You can reach me at cmullen@industrydive.com
Thanks,
Caitlin Mullen
Reporter, Payments Dive
Lol @ the increase in basic productivity claims. I worked from home for nearly a decade there, didn't take a lunch break, and was over 60 hours on a regular basis. When I went onsite for a client, it was typically 70-100 or more for a go-live, and that's not counting the travel time.
If you think someone is going to work that long at the office away from their family and then drive home after they've missed their family's life, I've got a bridge in Brooklyn to sell you.
As a journalist, Caitlin needs quotable sources and facts. While what we say here is interesting fodder, she needs something more substantial.
No one here is going to want to talk to you when neither article tells the story told here. You very clearly are writing this through Frank's eyes.
Lies upon lies. 44000 employees my ar-e.
Honestly…this is why I left earlier in the year.
No matter how much I was told this wouldn’t happen, I had the sinking feeling it was the plan. Thankful I got out before I had to go into an office or be subjected to an RIF.
Plan has always been this... Main office Berkeley Heights with huge offshore presence in India. All other locations are either closing as leases run out (or if owned when sold) or are "vanity" locations such as NYC & Milwaukee.
More business as usual for Frank. They sell multiple buildings they have owned (not rented) and continually laying off employees in the Lincoln location. They combine them down to one building and continue laying off .
There used to hundreds in the buildings now you see very few. They fire all the US employees and hire in India.
“Basic productivity” (people doing their jobs) does not increase profitability. It maintains it. No one called him out in that simple economic fact?
It's really gross listening to Frankie Diamonds trash remote workers, especially after they carried him through the pandemic. His obsession with monitoring, micro-managing, and mistrusting employees makes him reek of small-minded pettiness. It's amazing to me that this jabroni has gotten to where he's gotten to. Watching him drive a once solid company into the ground is mystifying.
Lies, lies, and more lies……
Bisignano called out the company’s “hybrid workforce strategy,” and its focus on large hubs like its Berkeley Heights, New Jersey campus. Meanwhile, Fiserv has closed more than 70 facilities during the past two years, he said.
Hau said some profit margin expansion will come from “basic productivity” now that offices have reopened and “our associate base is returning to the office.” Former Fiserv employees have said the company is shifting away from remote work and cutting some of those who don’t live near a central office.
Is the hybrid work strategy, the elimination of it? Basic productivity? Really?