https://www.paymentsdive.com/news/fiserv-ceo-employee-cuts-part-of-merger-strategy-frank-bisignano/639073/
"Fiserv hired “thousands” of employees globally this year, even as others were cut from the payments technology company because they were unwilling to relocate, the company’s CEO said in an interview with Payments Dive."
GLOBALLY
lots and lots of india offshore teams who are definitely very good workers, lol. Can let every single one of them on my team go and wouldn't notice a single difference.
I think FB could be the white house press secretary. Spin, spin, deny, deny.
Constant state of crisis and damage control…notice of contract terminations/output service issues/customer service issues due to so many associates riffed…”they” don’t care about the associates…continually looking at what to take away from associates…and all the continual gloating about FB…very interesting place…
Hired thousands after laying off tens of thousands. Lmao
"declined to share a more specific figure" = I am not being truthful
I never print anything(esp since Fiserv restricted printing) but I printed this at the printer near Global Brand, walked over to the nearby bathroom, and wiped my ar-e with it.
That's what I think about this article.
Lies and I'm sure he's lying to the board as well. If that was the case my LinkedIn wouldn't be blowing up with people being let go and wasn't there an article recently that included the increased severerance expenses for the year, I would love to present that to FB and see what he says. It's just going to increase as a lot of people have a 12/31 end date still
Hired where exactly? Over 6,000 across the globe let go since June and more to come after the first of the year. These hiring numbers are just smoke and mirrors so they still get their tax breaks at the BH waste of space.
He is such a liar. People were cut that were mot offered the opportunity to move. People were cut that wers assigned to a hub locations. Roles were eliminated.
Year OFD OFS Total
2011 24000 20000 44000
2012 24000 20000 44000
2013 23000 21000 44000
2014 23000 21000 44000
2015 24000 23000 47000
2016 24000 23000 47000
2017 22000 24000 46000
2018 19000 24000 43000
Post merger
FS offshore US based
2019 44000 16000 28000
2020 44000 17000 27000
2021 44000 18000 26000
Anyone actually read all the annual filings OFS, OFD and current FS? What does Workday say, about 35,000 roughly?. So investors, employees, customers, and reporters are to believe that the synergies resulted in zero employee loss compared to the two companies pre-merger? I call BS.
I hope she took a shower after that interview. I felt dirty after reading it knowing full well it was the exact gaslighting he’s doing to the employees, clients and the street.
Keep the pressure on Caitlin, Frank-enstein is starting to feel the heat…bring on the torches and pitchforks….
What an Orwellian double speak exercise. We have not replaced everyone with a newer hire. That would defeat the expense cutting expected from the merger. Yep, FB doesn't have time for those who refused to pick up their families and lives to move cross country to the new shining palace...how dare they not buy in to his vision! I am genuinely torn as to whether he understands what he's doing or how this is effecting the business he purports to run. S-B may actually believe his own press releases... He's either a skilled liar or totally delusional, not great choices.
Apparently. Caitlin touched a nerve and brought out the snippy in Frank. The “didn’t want to move” people are dead to him.
Word must be getting out so he is doing damage control... plan has always been to replace "expensive" experienced workers with cheaper college grads & off-shore. Unfortunately, there is no SME's to train the college grads & we are a 3rd tier employer in the India tech market.
It has always been a numbers game for FD leadership.... but there is a lot that's missed in only looking at total headcount.
“We did not let people go this year, other than we hired thousands of people in new locations, and other people didn’t move,” Frank Bisignano said Friday. Wow, talk about spin and lies. "...and other people didn't move" so we fired them all even though they were highly talented and experienced, and "hired thousands of people" who know nothing about the products they support so our clients now pay for sub-standard service while these new hires try to learn the products without mentorship from anyone knowledgeable.
Lol. Frank n beans keeping up the narrative. Still not sure how that's possible when we are down 9k employees since he took over.
Somebody really likes fudging numbers. Wonder when it will come back to haunt them?