Thread regarding Fiserv Inc. layoffs

What do you plan you accomplish that helps long term.

@a6 I’m genuinely glad that Julie, the head of IR, is gone now. She was a horrible communicator to the Street and she customarily defends FB!

@a5 this is plainly false. If you read a financial statement, their 4Q capex will be higher than expected.

@a5 this is true regarding the AOP and budget. I've been a FiServant on the Finance side and the story is always the same. Execs set unrealistic and unattainable budgets and forecasts and then every month end close is a scramble to flip over the cushions and realize that nothing is ever there. Thus begins the "selling of the house" so to say. Fiserv's issue (at least at my time) is related to margins. They quite literally GIVE IT AWAY for the sake of "business relations" which I can understand to a degree, however once they start increasing prices/margins to big clients like Capital One they threaten to go elsewhere and the dance begins lol. Fiserv doesn't want to lose plastic/print volumes so they "justify" 0% margins and just get scr-wed in the process.

The problem is management. It always has been and from the looks of this board, it continues to plague the company...

Annual Operating Plan and the budget are set for the year. You won't see any change in investment until the next fiscal year starts. Right now they can only make policy changes.

@a1 Hm.......
"Self-Inflicted" Problems: ML acknowledged that the company's challenges were largely "driven by our own doing". This included a prior management focus on short-term revenue and cost cuts that deferred necessary investments in technology and client service, ultimately limiting long-term growth and execution capabilities.

I think our Leadership team needs to work Harder and Smarter to steady the ship.

Shall I continue? I think we should.....
70% earning drop just this year, $30 billion in market loss. That should be a slap in the face to the Leadership team.
Lawsuits against the former executives made false and misleading statements about the company's growth potential - aka Clover. Now there is a downward growth on the product.

And for those who have worked at the company for years, the loss of development funding and hardware upgrades has been nothing short of a lack of caring for the clients. That has been a 5-year issue in the making. (If not more).

Operational and Cultural Problems: I think most will agree here - a poor internal culture, including a lack of clear leadership and high employee turnover. The d-mbest move was to get rid of the team members who knew the old systems like the back of their hand.

Any further questions? or do you need more examples?

@OP Meh. I say give him time. The guy just got here and is probably still uncovering ways in which Fr@nk destroyed the company and have scr£wed us all over. It will take a while to turn around the ship.

In the meantime, find ways to get work done more efficiently so this place doesn't burn you out and insist on work life balance.

Why don’t you just switch a job? Mike here, very pi---d by your words, I’m not buying any shares in the open market because folks like you.
The company will sail to zero. So if you can’t stop whining, find another job.
Oh right. You can’t. Well, that’s not my problem.

60 for 6, work hard, everyone!