Almost 400+ people have been laid off in the past week, Why is no one talking about this ?
I thought the news will pick it up by now
7 replies (most recent on top)
I was let go earlier this year. Fiserv has laid off or lost @14,000 employees or 28% of its workforce over the last 4 years.
It is a completely different company now, all former values we worked so hard to build, now gone.
Not sad to be gone now, but feel sorry for those left and the customers we’d spent decades creating relationships with.
@ggu+1rI6k7Un FB/KKR started making cuts in Jan 2020 well prior to Covid nothing to do with the downturn. Fiserv is unlike any other company making cuts other than they repeat the same mantra. Plan remains push out the 50+, the WFH and the pre-merger Fiserv.
Spoke to a recruiter and they asked what is going on at Fiserv as she has seen many resumes from Fiserv workers
Because it’s happening everywhere and a lot of cos. are making far deeper cuts. The economy is on the downward turn.
Probably because 400 is spread out across cities and states. Layoff news is mostly reported for local impact and the numbers are relatively low by location.
The news thinks Frankie is doing a good job. Cramer has interviewed him postively if I recall but only about 30% of workforce (what is left) approves. Media likes "trimming the fat" and getting rid of excess workers. Do-nothing IT staff for starters. (How is Pune working out? ) Abbott labs outsourced all IT a few years ago and it made a mess for a time and then went away. They fired the CIO and she found a new job at Johnson Controls and had all IT staff there outsourced as well. So it is the norm and not new at all. GET OUT - Fiserv is not the place it was.
I suspect it is because it is becoming the new norm… I have a few weeks left and then I’m out along with a lot of others. Unfortunately this company isn’t what it used to be.