The only way Fiserv can survive if it can go back to the George/Les/Jeff era - Respect employees! Fiserv has no employees. Most fired, rest shifted as an expense to Infinite, and Frank sold all his shares for $550M.
Think.,,,
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After ten or twenty years of work (I forget which), an employee gets a paid six week vacation to do whatever they want. I heard that Jeff cancelled sabbatical while someone was on sabbatical and that employee was required to show up to work the next day. Luckily they weren't traveling at the time.
@ex Sabbatical?
Jeff was very difficult to work for/with. Would go off on staff including senior managers cursing and yelling. Took a lot of Bennie’s away and got cheap on stock options. Brought in McKinsey, paid them tons only to tie up staff toxprovide data only to regurgitate it back
Not a nice guy, no soul, but knew how to maximize Fiserv results
LOL, Jeff didn't do much for employees, he took away the sabbatical, profit sharing, destroyed the benefits. He almost never funded the bonus at 100% (for the few lucky people that got it). He was still a 1000% better than Frank though.
@ab
Frank let a lot of long-term employees go who knew the systems and banking.
Frank also did NOT allow for any capital expenditure to upgrade hardware and software applications for years, and it has left Fiserv and its customers vulnerable. It is hard for Fiserv to compete against companys who made the right investment in technology to keep pace with client needs.
Fiserv is in survival mode. It lost 75% of its stock value last year. Opps.
In the dev space, it is -35% US w/ ~20% American
@ae company was started by an American. Not a ton of thinking going on in these threads.
@ab Newsflash... nothing that impressive about American workers.
@OP Can you please clarify what you mean by "...Fiserv has no employees..."? Last count I saw was 30,000+. What do you mean by this statement for those of us who have less insight into what's going on behind the scenes?
Agreed. It was an amazing comp at when Jeff was ceo. Now it’s not. We used to be happy. 3 days in office and 2 days at home. Also frank let go of a ton of American workers.