There will be more RIFs March 2025 according to gibbs. There will be no severance either. Get out while you can
11 replies (most recent on top)
I know this to be true, it's truly pitiful but it's something we do by quarter and the heaviest quarters are 4th and 1st. With the new policy in place they will terminate those people out of compliance first to see if that meets the metrical objective of reduction in headcount and if not then they will go through the stacked ranked list and sever those. Sad, but true.
I looked at the labor laws and companies don't have to give a severance when they layoff. It's up to the employer.
The "no severance" threat is to get people to resign so they don't have to pay severance. Severance is never given out of the goodness of their hearts, or even particularly due to policy. Severance exists for only one reason - to prevent lawsuits. Settling lawsuits is very expensive. When you sign away your rights for half a year's pay, the company figures they've come out ahead of the game.
You all are naive by now to think that a Fiserv actually follows policies or legal stuff. No severance regardless of policy. Policies can be changed. It’s all of you do thought the rest were rumours that you still stayed and then learned the hard way. Try to believe next time!
HR has already let senior leadership know, you can't just fire people based on feels - you actually have to have documented policies or you'll get sued up the wazoo! That is why they gave severance to even the RTO resisters.
But now they put in place a policy - look for them to fire people across all of Q1 2025 over it.
Nothing new. Been posting March 2025 for over a month now.
If they are actual RIF's they have to pay severance, I don't think they can do it without paying those. Maybe they can, I don't know.
With reviews rolling out at time of year they may be able to claim them as performance related which I would not rule out.
They do RIFS every March, or leading up to it. No surprise there.
Yeah… will happen got confirmed at MC leader meeting. Yup I’m a whistleblower
US HR here - I can confirm this. I’m leaving before this happens.
RTO and sapience will be used
How about everyone resigns. Frank can do all the work that fa---t. Another source today confirmed the same