Frank Bisignano seems like the worst possible replacement for Yabuki from what I can see, at least in regards to employees. I'm sure shareholders are going to love him when he starts cutting costs. Was there really no other, better alternative that would be good for both the company's bottom line and us?
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“It has all been taken away”
@ctg+14UiCt9y Hate to say it but it’s like that at most tech companies now unless it’s a VC unicorn.
It would still be worth it though just to see the looks on their faces. Be worth it just to see someone stand up to those toads
I would support a union at Fiserv.
@1crt+14UiCt9y , normally I'm anti-union in tech, since you can almost always get a better deal if you have the skills.
However, I'd advocate for it in Fiserv, if only to see the look drop onto FB and JY's smug little faces when the new union rep strolls into the next earnings call and says plainly "These are our demands. You have three business days to meet them or 80% of your employees stop working, and we picket for scabs."
However, reality says they'd find a way to root out and fire anyone agitating for a union. Too many toadies and lickspittles around.
I would favor a union. I have friends who are part of white collar unions and they have awesome benefits including retirement and high salaries.
My first years at original Fiserv before JY we had 3% matching 401k, employee profit sharing of up to 6% if your business unit hit target revenue goals, good health plan, 4 week paid sabbatical after 10 years and every five years after that., 15% ESPP. That has ALL been slowly taken away. I’ve never thought that a union was needed in a tech company but I have changed my mind. We have no say or bargaining power. We are scattered across the country and have to take any decision that is rolled out. All employee benefit decisions I have seen since JY came have been taking AWAY benefits. Who is in favor of this? Would you join if one was offered? Google and other employees are starting to think this way.
@kwr+14UiCt9y If you’re a day trader, no. But if you are holding for a while, definitely. I don’t trust Frank but his hundreds of millions of dollars in shares have to be speaking to him.
Doesn't seem like a good place for investors to me the last 2 days.
Everyone realizes it was a leveraged buyout now. Did not know that at the end of 2018.
@uzf+14UiCt9y The specific reasons involve a leveraged buyout. If you can leave, leave. Let the OFD rats drown when the ship sinks.
@uzf+14UiCt9y Fiserv is now a good place as a shareholder and not an employee. As long as you already own FISV shares because by cutting 401K matching and ESPP there's no reason to pay full price for them.
It's an elaborate ponzi scheme, just slightly different. Traditional ponzi is you pilfer funds and make those up by getting more investors. Here, you pilfer funds and make it up by cutting staff. Each one has a dead end eventually
Frank kept First Data afloat by cutting staff. This is the future of Fiserv.
@uzf+14UiCt9y Of course not and that is quite evident but that is why no one on the OFS side wanted to see this happen. We knew where this was going (most of us) and it's going right where we thought it would. Albeit, most did not think it would occur this quickly.
The Board of Directors (which includes JY) — all major FISV shareholders — hired FB for very specific reasons. The Senior Leadership Team all receive millions and millions of $ in stock options each year as part of their compensation packages. This was never about what’s best for rank-and-file non-executive employees.
If you’re under 40, willing to work 70 hours a week for an under market salary, fill out the engagement survey correctly and never ever question leadership you’ll be fine