Thread regarding Fiserv Inc. layoffs

@df $29B in monopoly sweep dirty sh-t under the rug for years money isn't $29B of value. lmao get a clue

Dude! $29B in value was erased this week.

Don’t forget, there’s still $30B in debt to service.

How do you think Fiserv will reinvest in support resources to stem the client losses?

You need to ground yourself in reality. Layoffs are coming. There’s no way around it.

@bh None of it matters. Get rid of the brain dead zombies people need to deal with regularly. Half of the issues at Fiserv left will disappear automatically without the bottom -10% of id--ts to deal with. There is no accountability in this sh-t hole every day.

Yeah cause the CEO would be d-mb enough to suggest mass layoffs causing panic and further issues in the company. Layoffs will happen, but maybe after December instead of before the holidays like before. We have not been doing well as a company and the minute they took away the coffee machines and even better quality utensils back in march/April should have been a major indicator of crisis to come.

@bb Frank B. ph**k'd the company big time

Almost everyone who was valuable to Fiserv have left, some retired, some were tired of the complete mismanagement, some found better opportunities…. Bottom line, the cream of the crop are gone leaving the less talented and the incompetent. I don’t see Fiserv coming back at this point, it’s too far gone, too little too late, too bad….

The obscene thing is that management think they know their stuff, but they are the most incompetent people I’ve ever seen. Turn out the lights.

If nobody is fired I will be disappointed. The average intelligence is too high but the lowest 20% of employees are fu--ing stupid and waste too much time.

@a4 Well said: Add Joey Profetta, who I have noticed has sailed off into the sunset last year, and the incompetent crew he brought along, especially all the execuitve castoff hacks from BAMs. And there were willing sellouts like Dan Charron, and Bob Nadeau who pitched in and enabled the nonsense when they should have known better.

Especially when you observe some of the other big company layoffs that will be happening..at Fiserv they may be quiet while they continue to hire low level associates to keep the tax credits..does nothing for your career.. look out for yourself as it will not be a fun place to work.

Frank was evil, and even a potato next to it will look good. Yes, Mike has accountability. But did he had any option? Numbers are facts and they never lie. There was no way he could cover frank’s mess.
He might be well qualified, but in finance, building reputation takes time. Sure they will hire more. Cant expect a different outcome with no action. It will take time for the management to bring riches to the company. But in this current recessionary climate, it is borderline impossible to expect results within atleast 2 years.

Until 2 years, costs need to go down. The only way is layoffs. Its not going to take toll on the image as there’s layoffs seem to be common in the job market recently.

I am more of a realist than optimist.

@a4 Well said Sir.

It’s very noble of you to assume there won’t be any layoff. A catastrophic event like this all but guarantees massive cuts. Let’s hope they cut the excess fat and not the muscles and bones! Good luck to
Everyone!

I agree. The last CEO was a criminal. But at least this guy seems honest.

I was looking at the Fiserv stock with my Robinhood app and a pop up came up and said Elevated volatility - This stock has recently experienced elevated volatility. You may want to proceed with caution.

I don't think it's the time to be optimistic unfortunately.

Also headlines about Fiserv erasing THIRTY billion in market values. Yikes.

@a4 thanks for the realism. Some people need to accept this.

Don't be fooled. The house of cards that was built under the prior regime has collapsed. The institutional knowledge in the brains of employees with decades of experience within the company were told they weren't needed and unceremoniously told to leave. Employees gaslighted and targeted by a complicit HR team for daring to comment on "anonymous" surveys about the nonsense going on within the company, when it was clear as day what was being done every three months to prop up the share price. Clients paying for support from new hires who had to read manuals to learn the product because any mentors they could have had were told to move to New Jersey or be fired. How long do you think it will take to rebuild a once thriving company when your reputation has been damaged this badly by the Bisignano, Chiarello, and Marino criminal syndicate? The company has now been publicly exposed. Is there any coming back from yesterday's disastrous quarterly results?

yep keep spending and shrinking those margins while $30 billion in debt, great plan !!!!