I hear Over 4k RIF's coming tomorrow across Fiserv
42 replies (most recent on top)
@4pxt+14I5B8oH Did the direct managers choose who would be let go or we’re they told who in their team they would be letting go? I heard a rumor that front line managers were asked some time ago for the names of those that they would be cutting from their teams, is there any truth to this?
I was laid off effective 5/15/20. Came out out nowhere and I was there for 8 years
Here is a little helpful hint for any #FISVPROUD ladies and gentlemen...
Be very careful using Fiserv assets. Check to see if Sapience is installed on your machine by going to Start - Control Panel - Programs and Features - Sapience Updater. There is a lot of spyware on your machine, so understand every keystroke is monitored. Also synced to your badge swipes. If you start showing up late, it will be noted. That means you are 'disgruntled'. If you take too much time between badge swipe and first keystroke, it will be noted. Too few keystrokes per minute, it will be noted. (hint: 1 keystroke every 5 seconds to be a productive little bee).
Remember, mister P.C. (rhymes with Cedar Paddikia) is now a Fiserv executive. You might want to read the following article:
https://www.bloomberg.com/features/2018-palantir-peter-thiel/
@4xmz+14I5B8oH I am so sorry to hear that. I feel for you. It sounds like you were a model team member. I had to let someone go but it wasn’t a laughing matter. It was extremely serious and sad. I hope you bounce back.
As much as I want to say I am shocked, I am not. This is typical Fiserv. Management does not care about employees or families. Face it, the company has never built anything. They simply acquire a better organization and then do a c-appy job of integrating it with the rest of the company. ONE FISERV is a joke and CLIENT FOR LIFE is even more of a joke. I’ll do everything I can to tell the truth to existing clients and prospects how c-appy of a partner they are getting into bed with.
Got laid off Thursday, last day is 5/15. Worst part is the person who let me go had the nerve to laugh when doing it. I’ve never felt this worthless in my life. Always gotten great reviews and respected by my peers. This came out of nowhere and at a time where no one is hiring because of covid19 really has me scared for what is yet to come when me, my wife and kids are homeless and starving. I went from a six figure salary and loved my job to unemployed with no prospects in a matter of 10 minutes. This company is pure evil and I wish I would have never taken it in the first place.
Not only does FB like to be in NY he has a contract guaranteeing it. Brookfield is fine for HQ. Alpharetta is pretty but if they had to shut it down neither JY nor FB would shed a tear.
FB likes to be in NY. So the ehadquarters will stay put or move closer to NY
There was a long time rumour years ago that Alpharetta would be the new headquarters if they ever moved it. My theory is Alpharetta is going to be use for corporate/most suit and tie like business since its pretty and better to show possible customers/investors, and tech people would go to other sites.
All those people in FTS living in Forsyth and Cherokee Counties must be thrilled to be relocated to a dump in Marietta.
@2rtn+14I5B8oH Their standard technique for salaried is to offer 1-1/2 to 2 week's pay in exchange for signing an agreement to not disparage the company and to not sue them,. but to go to arbitration for anything outside of an actual EEOC complaint (which they cannot legally force into arbitration, but they'll never tell you that.) Not sure about hourly folks.
WARN requires an additional 2 weeks' pay for no-notice (less than 60 days' notice) layoffs as well, salary or hourly. However, in many places and states Fiserv got around that by posting WARN act notices back in February, dating them out to 4/30. Someone posted a link to the one for Ohio in this thread.
Yes they get a severance and they get insurance thru end of June at least BS area.
Are they offering severance packages or just kicking people to the curb?
have a friend RIFed yesterday in FTS....he was sad and gloomy but at the same time relieved because of the hours he is putting at work, and the stress...this RIF came from nowhere for him.... strange...execs should be more nimble with change management and redirecting workforce... good luck ...my 2 cents..
Is CUS - Credit Union Solutions?
CUS - Credit Union Solutions
BS - Bank Solutions
FTE - Full Time Employee
FTS - Fiserv technology Servuces
CUS- No idea
What's FTE, FTS and CUS?
So sorry for those notified they were laid off today. Terrible day. Seems like Fiserv when Fiserv executives said they were giving up their base salary, they knew they'd make it up with their stock options. Gut the worforce to make the stock rise a penny.
Yep - getting ugly. This one came true today: https://jfs.ohio.gov/warn/current.stm
@1mxk+14I5B8oH - Oh no. and WOW! I am so sorry. What business unit were you in?
Yep, most of the team gone, including me. All FTE's.
40% of my team including me and my manager was let go today. CUS
It’s not all contractors— a bunch from Brookfield we’re let go effective 5/15.
Confirmation of layoff in BS
@1vzn+14I5B8oH - No, I was a standard employee who worked in one of the smaller groups. Was out of nowhere and my direct boss didn't even seem to know it was coming.
@1jgz+14I5B8oH - Were you a contractor of a FTE? What group/location are you in? I am so sorry to hear you were laid off. When the world starts moving again, there will be better opportunities for you. Those of us left behind are getting more miserable by the day with the overwhelming work load increased by every FTE and contractor we lose. Meanwhile the former JPMC executives/ FB's cronies will make millions and get huge bonuses.
Lost my job today, my position was eliminated.
A 10% RIF is pretty massive and unlikely to not leak out. That’s one data point, however Jeff and his boys need a HUGE win at earnings. So get your popcorn
@bku+14I5B8oH WARN act doesn't trigger unless the layoff is for more than six months. Fiserv is sleazy enough to say that it's temporary and then conveniently forget to call the laid-off workers back. In the sea of layoffs, who in the soon-to-be-understaffed typical state labor board office is going to check, let alone follow up?
relevant info: https://www.felhaber.com/the-warn-act-and-covid-19/
Why would they move people to Marietta from Alpharetta (which isn’t a trivial change like across town, it’s 20 miles) unless they plan to move others into Alpharetta or sublease part of the building?
It's not going to be safe to sit in an office with other people for at least a year at this point.
There's a ton of Fiserv folks that live north of Alpharetta. Good luck convincing those folks to commute to Marietta in 2021.
All of FTS in Alpharetta will now be relocating to the Marietta office. That’s the news. They are moving people’s things wile everyone is out of office due to Covid-19
They packed up peoples stuff in Alpharetta office. It's a fact. Some are staying where they are, some are moving to different locations in the that building and some are being sent to Marietta office. Believe they are sending tech people to marietta but don't quote me on that.
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 don't know about Georgia specifically, but I have also heard there will be RIF's tomorrow, but I've heard nothing about the numbers. My little bird of information didn't give me any specific numbers.
- they announced recently that they are moving some alpharetta ppl to the marietta office, and that they would box up those associates' stuff b/c the offices are temporarily closed due to covid. Could it be that?
They couldn't survive a week if they cut workforce by 10%.
I could see a lot of contracts ending tomorrow, but that wouldn’t be a RIF.
What does that mean - ‘they packed everyone up’? Isn’t everyone working from home? Are you saying they packed everything in the office while people are working from home?
You ‘hear’ over 4000+ RIFs tomorrow across Fiserv? Are you actually in the office where you can hear this? Cause those that make the decisions talk loudly enough for others to hear? Why even post this and cause undue stress to those that may be overly stressed at this time? What is the point? Trying to invoke panic? With the state of the country at this particular time, people need to be more responsible and consider how their postings may affect others.