Revenue down, missing expectation all around, and they’re still buying back shares, rather than paying down debt? Sounds really delusional. And Mike and Dhyvia is about to implode this thing. Bo-b it completely.
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I was let go and severance after tax is not enough to pay the bills for job hunt period. In this job market would have preferred rebadge over this BS!
Why would anyone invest their future, while missing their life events, with Fiserv given these conditions ? Your life is more valuable than sailing on a sinking ship..
@bx no I am a rebadged employee we all were given the option to take the rebadge job or if we did not it would be considered our resignation no severance either way since they were offering us an alternative company . No 401K, much less vacation days worse health insurance and will not pay any severance. Same rules applied to all we were on group calls with Infinite explaining it all. I took the job because I wouldn't have even qualified for unemployment in my state "i cheecked" because I was offered a "alternative " doing the same exact job just a different company paying my salary. I need to pay my bills....
@bt my understanding is that folks were being directly transferred to Infinite. There was no formal termination and then a severance and then rehired by Infinite. Even if Infinite does bill Fiserv that wouldn’t reflect in those severance numbers unless that termination then severance then vendor hire is scenario is true
They still get billed for those rebadged employees just saved all the overhead costs and severance. Infinite has a contract with Fiserv for a few more years But correct the rebadge can be let go at any point with no severance or notice. Im not sure if they have been impacted by the recent or future layoffs or if they are now safe.
@bk and the rebadged staff to Infinite they are at will employeesand can be let go at any point with no severance.
@bj can’t be because that wouldn’t fall under severance. The whole point of rebadging employees to a 3rd party vendor is to avoid paying severance
@b4 And thats with rebadging with infinite
They don’t intend to ever pay down the debt.
@b4 those severance numbers point to even more layoffs in the coming quarters
Severance expense of $73 million up from $15 million the year prior. They sure are letting people go still versus trying to fix things.
Dhivya doesn’t have the legacy people with the knowledge to fix it!!! The team she compiled will only help her sink faster- not proven leaders of anything!! Bank, CU and Enterprise are doomed!!!
@a7 that’s true but the results still show organic revenue is negative, Financial Solutions is shrinking and margins are compressing materially
While I don’t disagree the trend is the wrong way I think you are forgetting how all these number are being compared to 2025 when FB was inflating numbers, moving revenue, cutting deals to prop up long enough to take his golden parachute. The real test will be q3 numbers.
These buybacks are functioning as a support mechanism for shareholder returns and not a signal of strong internal growth opportunities