https://www.bizjournals.com/milwaukee/news/2020/05/07/yabuki-stepping-down-as-ceo-of-fiserv-former-first.html
“The synergy work is not complete...”
They target is now $1.2B. They are going to cut, cut, cut. And by so doing, lose any hint of the vison/people they need to become the best fintech on the planet. You can’t spreadsheet filter your way to client success and wellness. You have to think... — read more
Jeff won’t be protecting anyone anymore
Jeff’s current or former direct reports must be really nervous right now...they will shortly be pushed out if they don’t jump first...
Jeff out, Frank in
You guys called it! I had my doubts but it happened.
#notmyfiserv
So many questions run thru my mind when I think of those 4,000 laid off. What is the benefit of losing teams of people with years and years of experience? Those people cannot be replaced easily, especially in these times. Those left behind are... — read more
But Jeff
But Jeff, why did you have to wreck this company? "Because it's wreck-able, all right?"
FB’s LinkedIn page
Aside from the fact that he feels he needs one (obviously written by a professional writer) it says nothing about Fiserv in it. You’d think given his ridiculous contract that a year later he’d update his profile. What’s wrong, Frankie...ashamed to... — read more
Can I volunteer to be laid off?
I'm done with this place, might as well try and save somebody else's job in the process of leaving.
Preparing for sale
Given franks history and the desire of the top executives to cash out, it’s pretty clear the company is being prepared for sale. The actions in the last year line up exactly with what one does to accomplish that starting with massive staff reduction... — read more
Hillsboro IT
Good news that the walking ego in Hillsboro's IT department is on his way out as a result of the covid slow down. That stuff pretty much runs itself anyway so it's no great loss. When things go back to normal, if this is true, Development can get... — read more
More Location Changes
If you don't live within 30 miles of a "Fiserv" location when the company does decide to let associates go back to the office they will let those associates go. Nevermind they are forcing Alpharetta based associates to now report to Marietta when the... — read more
Is this true?
"Does Fiserv have 4000 contractors. I know for a fact all contract positions are eliminated effective tomorrow/ 4/30. My understanding is that there will be more layoff of full time staff every month." I'm asking about contractors - what are the... — read more
April RIF's
I hear Over 4k RIF's coming tomorrow across Fiserv
Make this work for you
Instead of getting upset with the behaviors of these leaders (which are poor) do something to change this to your advantage. The stock will be a good investment for 3 years (no longer) as Jeff and frank have hundreds of millions of dollars at risk. ... — read more
JY
Jeff's thinking in 2017- "Hmm, I need someone to gut this company. Who can I get?" "Ah, word on the street is FB is the best in the biz at gutting"
Salt Lake City Closing
Salt Lake City offices will be closing. Announcements should be coming within the next 2 weeks.
Dublin office closure
Seems the Dublin office closure announcement becomes reality next week. The final end to the checkfree legacy
Burning furniture
Tommy Boys big joke when Fiserv bought FD was that they were burning furniture to stay warm. Meaning that debt was causing them to cut costs so deeply it was a major burden to operations. Well who’s burning furniture now? Is it possible to right... — read more
"Acquisition"
Merger? Acquisition? A little over a year later and we now know that this was neither. This was an overthrow, this was a coup
Peter Cavicchia and Frank’s Past with Palantir
Some disturbing and eye opening stuff. https://www.bloomberg.com/features/2018-palantir-peter-thiel/
Actions prior to May
Any rumblings on reductions prior to the earnings announcement. Fiserv is going to need to make a big splash
Arizona
Why was one side of the building sent home? Did someone get sick?
Agile coaches
Is there still an investment in agile “coaches”? Literally millions of dollars of shareholder money has been spent leading to budget overruns and the firing of long term associates to cover the gap. Ask about it in your next town hall. And ask why... — read more
Jeff - don't be a gutless coward
Stop hiding behind the Fiserv name! Call the company what it is - First Data
~500 LANIDs disabled on the OFD side last night / this morning.
I have it on good authority that ~500 LANIDs were disabled in the last 24 hours. Not sure of business unit, etc. but that is quite the number. 500 people just lost their jobs in a market that nobody is hiring in.
Book? uh-huh
Jeff is going to have a book written about him alright. It's going to be called "The man who destroyed Fiserv"
CLARITY
Another loathsome time waster is clarity. Anyone else having to do this task brought over by OFD?
Earnings call
Will the earnings call impact layoffs? Meaning do they wait until after to take action to hide those numbers?
Thoughts on the Covid-19 update will from Jeff and Frank last night?
What does this mean for us? What can we expect? How impacted is Fiserv's business by this crisis? Which business units are most affected? So many questions! Feeling pretty in the dark... Can anyone weigh-in on this?
A small note:
As you're being laid off from Fiserv, be certain to double-check and read all of the paperwork thoroughly! They will try to screw you over on your way out, especially by forcing you to shift to arbitration-only and to promise not to sue them for any... — read more
Covid-19 All Hands
Anyone else feel like these weekly Covid-19 All Hands from leadership mirror the daily WH "Press Briefings"? All propaganda and failure to really answer the questions around layoffs and general direction. There's no real sense of comfort to the... — read more
Are we expecting anything today?
What's happening with layoffs? I heard quite a few people were hit yesterday. Is it over or will there be more?
Card services -contractors laid off?
I hear that many contractors have been laid off and some reshuffling happened this week
Proxy Vote
FB And JY will have a negative vote from me, not sure if they can search using my control number and retaliate by terminating..
Salary
Jeff’’s 2019 salary was $27 million. Thanks for the lay-off jackass
Revenue guidance
Jeff is likely regretting upping the revenue guidance alongside the synergy numbers. Synergy will be hit easily by the New York gang. Revenue is going to be a problem Which can only mean more cuts to compensate From the beach and boats in... — read more
Paid
https://www.usatoday.com/story/money/2018/12/21/highest-paid-ceos-2018/38756663/ 2018, a year before the merger
Layoffs on 4/1
This board said more layoffs occurred on 4/1. Any info on what business units? Was electronic payment affected?
Laid off - Card Services -NJ
I was let go on 3/12.