Just pulled into a meeting, more layoffs for remote people to support the “client first initiative” clients need us in the office.
More layoffs coming but they started this morning.
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My team at Fiserv is very toxic. All permanent senior employees including VP are very rude to the contractors. No ethics even though they take ethics training. They talk against other religions, female openly in the office. In the meetings they yell at the junior or contractors. All bachelor employees or OPT students work just to survive in this country. How much we work, they’re not satisfied. Not even one line of appreciation. They want the work to be done on the same day or in the same hour. No agile, no sprint. Don’t know how to talk politely or respect the employees. Everyone looks stressed and frustrated in this toxic, hostile environment
@zw Agreed. I am now a rebadge as of January. I am hoping the same. This atmosphere has drastically changed. Unfortunately I won't get a severance and not sure if they have plans to lay some of us off to cut costs but personally still hoping and looking.
Its become a place I do not enjoy working at anymore. There's no "team" atmosphere, no laughing anymore just silence. Hope to be able to move on soon or let go, it will be a relief.
What gets me is that a sn-t-nosed kid on my team slips by untouched. Dude literally throws a fit when he doesn't get his way and then gossips about everyone.
Yes, happened to me and that’s what I was told. “Customer first initiative” and remote
@kq issuer solutions also publicly shared a blueprint 400 devs -> 150
@kz why not just be under the assumption that layoffs are always imminent? It’s pointless speculating if and when they happen. I was expecting to be laid off a year ago and that didn’t happen. I’m not going to waste the mental bandwidth thinking about it. If it happens it happens. In the meantime I am going to do things to prepare for it. This is just not a stable organization right now for employees.
Anyone know if layoffs going to continue happening next week. I'd rather be on the list sooner then keep wondering and waiting. Getting more work thrown at me to cover the workload of staff who were let go.
Well that deck certainly just elevated the risk of all our jobs then. I'd be very worried if the work I do could be automated, outsourced or replaced by AI. But is Fiserv willing to actually spend the money on updating its products/processes to fully embed AI though? Lot of the products we sell to clients are straight up cr-p and outdated, how long would it even take to make new products and migrate clients over.
Either way I expect some aggressive headcount reduction based off that deck for sure. Scary times ahead.
@kn literally said look at the investor day materials - it’s in the power point slide on the investor relations page
@jp source pls ?
Would they only 🔥 Americans or reduce FGS headcount also?
Read and watch the Investor Day Material, they were not shy. 500 annual million in savings by 2029 under the banner of Project Elevate with “Personnel Realignment” as one of the pillars. That could be anywhere to 3000-10,000 less roles as part of that portion.
This place and workload on staff is impossible if she is really looking to get rid of 60% like you say. I see people working hours on end just to keep up with the workload. In the end to just get laid off. Sad times.
Get ready FIG colleagues D wants to get rid of 60% workforce. Believes AI can do these roles. Mike can’t stop her!!
@gd How is it working? You must be a manager who spends the whole day on pretend calls patting each other on the back. Why us workers keep you employed. I bet you couldn't even do or explain 90% of the work your staff does.
@fg Yes. Many let go. So much for Fiserv. This is another cold, harsh First Data style yank.
No more rebadge to Infinite. Divya is executing her strategy and it’s working.
@fp I don't get it either. We are so short staffed on our team as it is ugh.
Why arent some of them being transferred to Infinite as rebadged. We are running lean. im sure there are rebadged staff at Infinite that could be replaced and seat given to someone with knowledge and maybe a better choice/fit and experience. . But i guess in layoff rounds no one notices or checks in on them since they are not employed by Fiserv. They are the chosen ones I guess.
Sorry to our coworkers affected by this again. Heard a lot of shuffling of staff and consolidation going on in many areas.
Output Solutions is impacted.
Can confirm. I wasn’t remote, but I was laid off yesterday. Kind of relieved actually as I honestly just hated that place.
Not remote. Michael Thornton has gone
@as fair point.
I haven't heard of any layoffs today or yesterday normally there chatter but im sure its coming. Anyone know what departments will be hit again. I sure we will find out soon Investor's Day.
@a2 remote doesn’t mean someone. It assigned an office.
D-mb
Which business unit is this?
Laying off remote, but remote is typically who is in the client’s office?