Thread regarding Fiserv Inc. layoffs

Caitlyn - @1hkc+1jcVxFiH account is accurate, many of us RIF'ed this year signed non discourser agreements in order to receive a severance payout we can not afford to take on Fiserv legal to go public (side note legal is swamped and they are also leaving on their own). Until these numbers are challenged on an earnings call, SEC filing or at a shareholder meeting the lies will continue. Keep digging where there is smoke there is fire. Look how active a layoff board is on Saturday!

Head count has fallen from 44,000 to less than 36,000

Head count has fallen from 44,000 to Bank Solutions, Signature and Cleartouch banking Cores are seriously impacted. Cleartouch has at most 50 left. DNA also impacted a lot; was widely supposed to be the future go-to Core for Fiserv. Premier and Precision relatively less. Impacted departments/disciplines (some are almost entirely wiped out) (essentially, there are no departments/disciplines that are not impacted):

• Product Management (in some cases, one or none left)
• Development
• Technical Writers (including Client Communication writers) Products will have to ship without updated documentation
• Product Support
• DevOps
• Professional Services (this is a real surprise as these guys make money for Fiserv)
• Client Technical Services
• Client Success Partners
• Training (no trainers left)

Many areas had Managers, Directors let go. So, it is now ICs reporting to VPs. And in some cases - like product management - even the VPs are gone. Data Center operations are going to be impacted. It might not be possible to do any enhancements to some of the Cores in the next year; just security fixes.

Reasons:

• Site Strategy
• Return to Office
• Nov decision that all people managers should report to an office (expanding RTO list)
• large-scale revocation of exception/astronaut status
• Layoffs with immediate effect (this month, especially)
• Expediting separations originally meant to happen in Dec

Caitlyn the real story is they have laid off well over 10,000 and doing it in a way to avoid having to federally disclose. They have gutted the best of the best from the original Fiserv and appear to be not done yet, still coming for the rest. The company is now run by ex secret service and government officials who know nothing about what real financial service is nor do they care. It’s the completion of a coup to take control of what was the best fintech in the states if not the world. All under the guise of an incoming recession. That’s cr-p, you don’t go this far unless you are completely incompetent. Many financial institutions nationwide are going to be adversely impacted by this and it’s only going to get worse. I’ve read your previous articles and interviews with those in charge and you are being outright lied too. If you actually care the real story is how they are avoiding federal regulations to not disclose real numbers of layoffs and not having any real honest message to our existing clients. If I’m not mistaken Frank is walking a very thin line when it comes to disclosures required to investors and the market.

Tony Marino is the head of HR. He enables all these layoffs. Ask him what the future is and he’ll tell you - more layoffs

An investigative reporter would take all the information provided on the threads and chase it. There is more story here than just layoffs.

there were more layoffs yesterday in the Digital Payments group as well. They are saying they are done but it does not appear anyone believes that. In a company that was already poorly structured and siloed they are creating larger gaps in product and company knowledge. All these cuts are going to hurt the client facing people and their relationships as they try to get things done.

Not sure of where the hate on the journalist is coming from...she's bound to quote the official word salad response from the corporate level. She's asking for the voices of those impacted to counter/add to the report. But as noted, there's a scary point of being vocal until those severance checks are cashed. The press relations mouthpiece isn't going to quote numbers or highlight servicing impacts.... Sure, we'd all like to see Mike Wallace roll up on Broadway, but that's not quite what is in store here.

I think the journo (Caitlin Mullen) is well balanced. Not ready to talk on record yet but I am sure you'll find a ton of folks who will talk.

Here is your story lady…. Longtime employees are being overworked and living with anxiety and depression as well as getting ulcers worrying about supporting their families through the holiday season when most companies don’t hire!

Do you work for Frank? Are you one of his shills posting fake numbers? Nobody here can help you with real numbers. Why don’t you ask the cavewoman?

Fiserv needs an en--a to clean out Frank and all of his cronies. Maybe it needs a douche to get rid of you too

What are you smoking? I read your reports - very neutral and far from the truth. You have access to lying Ann, which she believes we have 44k employees, workday disagrees, at best 34k, and probably you were hired by Pete Cavicchia, Fiserv CTO and former secret service agent, which he too getting married next weekend to another Fiserv exec. Go investigate the friends and family, Inc.

You have more data on this thread if you are really looking at exposing the crooks. You didn’t have the courage to even list this portal!

I read your latest piece. You seem to have access to their spokespeople, and you seem to give them more credit than the people really affected by all this. It is very simple to me - the company is being slashed to the bare bone so it becomes attractive to a take over. Whoever buys Fiserv will get a bunch of empty buildings or if not empty, a bunch of people with empty souls.

Fiserv is no more.

you understand the majority of his cohorts are ex Secret Service agents, company is ran like its a government agency aka no growth, nothing to learn, just there for service,