Fiserv will dip below $50/share next week given horrible execution, bad employee morale, and irresponsible management incentives. Mike will take tens of millions of dollar home. Leaving shareholders holding the bag. Mike has promised no lay off, but now lay off is a routine feature. Mike has never bought a single share of our stock in the open market.
This ship called Fiserv, is going to zero.
16 replies (most recent on top)
@r4 Takis is as legit a payment guy as you can ask for
The day we get a leadership team that has a background in either payments or software is the day we get back to being a real company. As long as we’re run by career bankers nothing’s going to change.
@az+1kmxhr3ef sounds like you have a grudge against Mike.
I am grateful not having that blowhard tyrant running the show and the reason why we are in the situation we are in. Talk about unethical and evil.
@ah And we know someone who was.
If anything Fiserv loves keeping low performers. Boomers have been promoted into leadership and are utterly incompetent at it, so to hide their own incompetence they hire and promote incompetence. Last thing they want is to have a smart underlying pointing out where they are failing, so it’s obvious to everyone they are terrible leaders. They want d-mb a-s in chair minions who won’t speak up. If you do speak up they’ll mark you as the low performer just to get you out and lie about their “top” performer buddies who keep their mouths shut, show up to the office and contribute hot air.
Seems to me that the people who spend their days roaming the halls of Berkeley Heights and Alpharetta are pi---d that someone is catching on. Here's an idea- when you get into the office, try not going downstairs for a 40 minute breakfast. There's plenty of work to do.
@a4 yes market is down but tell me why you think Fiserv is down over 70% jn a year? Your blaming the entire market on this ? Lol really do you have a clue on what is happening here do you really work here and havent a clue ? Not all needs improvement were let go in this past round if you were here you would know that. Not all people who will be let go up until May 3qst will be needs improvement. Many states may be affected that will not meet the Warn notice guidelines but will have layoffs. The days of you "blaming the market" at this point is a joke. How many top level managers were let go vs how many people actually do the work? I guess you have no clue but im sure you will blame that on the market instead of looking at the real issues why the stick is down and what the impact of layoffs does to a client facing company.
This is not the place to come to if you want to bash Mike. Everyone here defends him like hes their mother. Its bizarre and creepy to be honest. Mike is a terrible leader. Just accept it. Stop defending someone that would treat you like the sc-m on their shoes. And for crying out loud, go get a job with a real technology company!!!!!!!
@a4 BS. Yes there were low performers let go, but I know many who were anything but.
@a5 it wasn’t necessarily a promise of “no layoffs” but rather he’s signaled every quarter how he wanted to position Fiserv for long term strategy and growth. He’s not interested in trying to make each quarter look good by having layoffs. He knows the company has had too many layoffs in the past which have hurt the company. The real issue for Mike is when shareholders aren’t seeing progress and demand something, and he might change his turn and do a big layoff to signal that to investors.
At least Mike is trying to right the ship instead of just posting a bunch of self-promoting gunk to his Wikipedia page like Frank would do.
@a4 It is not getting rid of the low performers when some managers are told by senior management they must rate x% (ive heard 10-40% for certain teams) of their reports as NI regardless of if anyone is actually poorly performing. Many teams are already lean after the many layoffs, attrition, and lack of backfills, so now these " performance based " layoffs are taking out good people
I know someone that was let go who was far from a low performer.
When was there this promise of no layoffs that some keep mentioning?
Entire market is down. And latest job cuts weren’t about money. They’re finally getting rid of low performers, and it’s about time!