Thread regarding Fiserv Inc. layoffs

Digital Lending Org gutted

Monday they let go off the entire Sales Team in Digital Lending Organization, specifically for loan complete, and mortgage director.
On Tuesday Loan Complete product group was shutdown and within Loan Complete was laid off. That includes support, professional services, product development, director level on down. Clients contracts and and existing engagement are being abandoned, with clients yet to be notified.

Rest of the week more cuts to follow for additional products. Mortgage Director is alive for now but with no sales team you can bet it's on the chopping block, and Nautilus(FRMS) is just keeping the lights on.

Good luck for those who are left.

by Anonymous
| 2423 views | | 5 replies (last October 12, 2022) | Reply
Post ID: @OP+1jaPjkE0
Comment! It's anonymous!

5 replies (most recent on top)

At a better company there was one rule. You can do whatever you want, just don't harm the company's reputation.

This harms the company's reputation.

You can bet these institutions will never buy another Fiserv product and will deconvert at the next opportunity. Then that bank will merge with other banks and the new bank will deconvert.

This is a colossal misstep.

by Anonymous
| | Reply
Post ID: @fyu+1jaPjkE0

FB has gutted this once great company and reduced it to a shell. To any clients out there, you deserve far more. It is literally impossible to support you because there is no one is left. If you think your service is bad now, buckle up. Today was eerily quiet. Thousands have been riffed. What was once #Fiserv Proud is now #FI-Sorry.

by Anonymous
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Post ID: @tgn+1jaPjkE0

I am one that was let go from DLO and can confirm 100% what the OP said. And I heard of clients reaching out directly to whoever they had personal information asking why meetings were not taking place.
Job security for the legal team it looks like.

by Anonymous
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Post ID: @aem+1jaPjkE0

This is an absolute bloodbath... A total FU from FB to folks who genuinely cared about their jobs, teams and clients. This isn't due to inflation or economics...it's due to fully incoherent leadership and clueless senior management chasing a dollar. Write today down, it's when Fiserv closed up. Change the name back to FD... FIS is absolutely giggling with joy...if they can figure out how to profit... Clients should be worried as heck... Survivors...start your job search too!

by Anonymous
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Post ID: @lyr+1jaPjkE0

The strategy is getting clearer by the day. This thing is breaking up. Parts are being prepped for sale.

by Anonymous
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Post ID: @jrm+1jaPjkE0

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