Mike Lyons has said repeatedly he cares more about the long-term goals of the company and not trying to do as his predecessor did with layoffs before every quarterly earnings calls. And that's also echoed with other C-Suite executives who have signaled before that the previous labor cuts have hurt the company's position in the market. Fiserv can't afford to trim more staff if they want to retain and attract new clients. So someone explain to me why people here keep saying layoffs are imminent because there are no signals of it from senior management.
33 replies (most recent on top)
Because a boatload of people were RIF’d today and we all have normal sized adult memories to know this happens every year in spite of ALWAYS being told it’s not going to happen.
On the eve of "Clover" day - how fitting 😂
It is not BS. Your lower level leadership is not informed. We were just told the notices for today were delayed. Who knows what the circus is doing.
@nk what an id--t, why you post bs on top of bs, find a job, do something useful.
@nk what does that mean they sent cancellations?
HR just sent cancellations for today. It’s still happening, just not today.
Good luck to all! If it happens to you just remember that is just a job. This is not who you are or what your worth is. There will always be other opportunities! It is a business decision and nothing personal against you. You will find something if you try. Have faith!
@kn its a math problem with finite HRBP to help with the exits
What company does a layoff over two days?
@f1 I’m glad they rebadged me in December. Have got 10+ calls for roles with Infinite as people are worried
Project elevate is Mike’s directive project
You can be cut at anytime for any reason on very short notice like just a phone call. I have seen that happen at Abbott Labs. Bo-m! Just like that. Bye. I hold zero loyalty to management ever! Only direct team colleagues
@bw Cut the low performers. Whoever invented Project Elevate deserves to be cut since they do this re--rd sh-t instead of cut.
Why does ANYONE in corporate America assume there's no layoffs? It's been like this since the early 1900s. Wake the fu-k up.
Because every company does layoffs. Mike Lyons seems like an alright person, but he's not your father.
@f1 The claim was every department in Fiserv is going to be affected.
Some were laid off a few weeks ago, more this week Monday and Tuesday. And no, these are not people being shipped to Infinite. It’s not speculation, it’s fact.
@ef I guess we’ll know if it’s true on Monday and Tuesday. People have said similar things recently in the past that turned out not to be true.
There are plenty of people in the know who post here. This is not a rumor, gossip, or outlandish statements hoping to cause grief, pain, discomfort, or what not.
People will be terminated this week. Lets try and show some compassion for our associates and their families.
@dm there needs to be actual layoffs or enough evidence of imminent layoffs. Spreading false rumors is not the same thing.
Rebadged Infinite employees were asked to join a last minute 4:00 call yesterday. They were asked to fill out a spreadsheet since starting how many clients they were working on currently how many tickets they had opened/resolved, applications they are working on and the job functions etc. This spreadsheet needed to be completed before they left at they end of the day. Whats that about.
Why are people talking about layoffs on a layoff message board? What a mystery!
Which is better for the company (clients/ employees) -
cut 15% low performers
or
15% RIF as most companies in the market are doing
Dive in Project Elevate with commitment. It will be disruptive and much needed.
Are they plan in to cut people with low ratings or does that include people who got meets expectations as well? If you know please answer
FiFail will cut massive amounts of staff on Mon/Tue, shove AI and crypto down the remaining associates' throats, and then implode spectacularly.
Have they cut back on stock buybacks? It's hard to believe anything will change unless they start reinvesting in the company instead of buying back stock.
Remember that leadership was required to have a certain percentage (~15%) of their associates marked as either Needs Improvement or Does Not Meet. They were informed that we would use this as an opportunity to reset how performance was measured and growing people fully into their roles. But this ends up being a lie. We are about to exit 15% of our workforce. You can believe these are all people we can afford, and it is true Fiserv will persevere. Included are historically high performers who had a bad year. But oh well. Good luck to our clients.
@aa the meetings are set. Separate from company Mo and Tu
@a3 are you part of the leadership team? How do you know this?
Hopefully all the remaining whiny wfh people get the axe
This is consistent with Mike's messaging of cutting the "low performers" and "democratizing dollars" towards business needs. Which is code for requiring a certain % to be marked needs improvement depending on business priorities of a product and firing them. He's not a change maker he just looks better than Frank because he isn't committing fraud
Shifting staff to Infinite Computer Solutions are layoffs from Fiserv
No speculation anymore, leaders were informed this week that Monday and Tuesday there will be layoffs and they will be told who.