I’m not going to call people out by name but the guy from FIG who told us today people were RIF’d last week because they were low performers is complete bullsht. We’ve all been set up to fail by fiserv with Sapience, which inaccurately reports our work time, and by badging into certain areas of offices. They can call it what they want but it’s obvious they’re making very thin excuses for reducing the number of employees at year end. I’ve always respected the presenter today but he fell far in my eyes as nothing more than a tool for Frank.
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Not BS, there were low performers let go and good riddance. There were several people that for years I could not understand how they were still around. However they were accompanied by some good performing people as well...sigh.
Fiserv didn't make the third quarter numbers. So we laid off personnel. If you made too much trouble for your boss you had a target om your back.
They say the do not do stack rankings. But they are absolutely still doing that.
So by employing FB/OFD logic Cutting the c-suite with high salary's and low peer performance scores is well over due.
Yeah logic, that went out the window with the takeover.
@1gmy+1vGVMk0O Typically Fiserv leadership (and I use that term loosely) cuts the lowest performers based on stacked rankings or performance indicators AND the highest paid. So you may have top performers being cut who have healthy (and often well deserved) salaries - maybe they have been with the company for many years. That's how they select. You never want to be at the top and at the bottom. I left Fiserv a while ago but curious, are they still budgeting for performance ratings on a curve where they assume so many in that group will perform low? I remember one year where a manager refused to give a bad rating to any of his high performing team even though the budge was for two to be at the lowest rating. Its a horrible system used by a horrible company.
Did they lay RIF people who made too much money? Was that why they were cut?
I'm trying to make sense of whatever logic c suite is using.
They forced people into early retirement and NONE of the people I knew in this last riff were low performers in fact just the opposite! So the low performer thing is total BS….
“Have they no shame?”
“No shame, you ask? No shame? Why no, sir, there is no depth to which they will not stoop, for they are utterly shameless.”
Stating that the last RIF cycle was performance-based - and repeating that message several times in different ways - reveals their true face.
Completely unacceptable.
Whether or not the RIF was in fact performance-based, you just don’t do that.
For a lot of reasons.
What level of integrity does this demonstrate? What level of trust does this inspire? What level of respect does this show - and engender?
To top it all off, there was the suggestion that it was done “in fairness” to those who did not get RIFed.
Are you serious? This was done on our behalf, so maybe we even should be grateful?
And of course we all know it was really about the money - and shaking folks up “because we mean business” as an extra benefit. Just about the money, and not - definitely not - about performance.
Did you notice questions were not shared so they could cherry pick which ones to answer? I’m just waiting to see if my manager comments on my rather pointed question.
He lied straight to all of us. Two of the top performers on one team were let go. It was a cost cutting exercise. That’s what they told the associates before letting them go. And they turn around and say something else to the staff they left behind after asking them to pick up their slack now. All right before Thanksgiving and Christmas. Sh-t company.
I was far from a low performer and I got cut. They are gaslighting you if they are saying that's the reason.
he’s just repeating the bs that comes directly from the top. that doesnt excuse it but it’s not like the leaders that gave the messaging today created it
However RC sprinkling in that he thought it was positive and the right decision while he wished everyone well for tgiving was a disconnect from reality. so f him for that.
Another multi millionaire that couldnt care less about ‘his team! so long as he hits his numbers.
not even a sorry. zero remorse. cold cold man
If they lay you off, aren't they obligated to pay your a severance?
You don't let go of that many people at year end simply based off performance. They think we are stupid by trying to sell us that load of cr-p. We know it was to juice the numbers for year end. And by calling it performance were they able to avoid paying severance to also help the numbers?
Lots of respect lost today on that call.