Thread regarding Fiserv Inc. layoffs

Please read: Let's bring back some balance...

Let’s face facts, the majority of contributors here (on the entire site, not just the Fiserv section) are selfish and blinkered. Everything that’s a complaint here revolves around the “Me, Me, Me” attitude, and to that end nobody should be surprised that there are continuous recounts of these supposedly incredibly talented people who are being completed overlooked and screwed over, which we all know isn’t a true representation of reality.

Remembering that employment at a Company in the western world is a choice, I find it challenging to understand that so much energy is channeled into abusing senior leaders, when most of the people making those comments wouldn’t be able to make it through a day if their job title started with the word “Chief”. Again, the distorted perspective on reality presented here most days assumes that Frank and the Leadership are deliberately attempting to make a misery of the lives of the people who contribute their essential pieces to the overall success of the enterprise. Simply not true, again.

People who have left, sometimes truthfully, will gloat over their new terms. That’s great, but unsurprising. That’s how I got more money and a different set of opportunities for my career: I moved Firms. It happens, quite a lot. But those reading these apparently fantastic offers that are out there and thinking that these are the norm will probably be surprised when they being looking for themselves. The economy will continue to decline for a while, and as the larger Firms with big people based risk surfaces scale back on green dollar spend I’d issue a word to the wise for others to consider the potential implications of assuming the grass is always greener. This comes from a place that’s not colored corporate orange, more from a place where common sense prevails.

Penultimately, just an ask to potential Thread Contributors: please be real. If you are looking for a vessel to improve your circumstances, then speak up at work. Talk to your Manager, or their Manager, or HR. If you want to make a positive change to your personal circumstances then develop a plan and go execute. Actions speak louder than words, and if you just flipped the script on the negativity then maybe you’d be in the position where you enjoyed what you have instead of moaning about what you think you’re not getting, and that it's everyone else’s fault.

And finally, instead of going straight to Fiserv when you load this webpage, maybe take a look at Wells Fargo, Dollar General, JPMC, Ford, Meta, or TGI Fridays. Basically, any other Company. The challenges at Fiserv are not unique, they are just like everywhere else, and if you break out of the bubble you’re in you might have the opportunity to realize that. If you can’t reconcile that, drop your address in here and we’ll make sure we send you a participation ribbon.

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| 2947 views | | 22 replies (last January 15, 2023) | Reply
Post ID: @OP+1kuuLkkr

22 replies (most recent on top)

You abuse your employees.

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Post ID: @duyp+1kuuLkkr

As is common with most of Frank's goon-posts, he lists a bunch of other big companies and then claims that they are "just as bad" as Fiserv. Why don't you try making Fiserv head-and-shoulders BETTER than those other companies, Frank? You'd sleep better at night if you were actually, you know, ethical.

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Post ID: @2pbp+1kuuLkkr

Adding to @1knz+1kuuLkkr....

Look at his approval rating on Glassdoor. It's abysmal, even with the shills posting one sentence fake reviews.

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Post ID: @1otw+1kuuLkkr

No matter where you work you must keep yourself and family first and foremost…everyone is replaceable

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Post ID: @1gyx+1kuuLkkr

Formerly, we did not always agree with Jeff Yabuki, but I think a lot of us, trusted him and trusted leadership. They grew the company and delivered with a robust growth stock. When there were layoffs, they were targeted and there was communication, often stating that there were no further layoffs planned for the year.

On the whole, employees do not trust Frank Bisignano. Why is that? Why doesn't he analyze himself to understand why he is a poor leader and why employees do not trust him? A good leader would invite honest feedback and look to improve while also working to gain trust. Good CEOs do this. FB is a horrible CEO and his work history proves how bad a leader he is. He's been forced out of other companies along with his unethical partners that he "re-installs" at the next company.

Quoting a survey that has questions about trust which are only attributed to local managers is a masquerade. Why don't you have direct questions about the CEO and leadership team related to trust? Delineate and know the truth. 87%? FB would never get 87% with an honest survey that is tied directly to top-level leadership.

Why has the stock floundered since age of FB? Fiserv stock has never done this in it's history.

A good CEO and a good company would not produce this much hatred from it's workforce. You really need to self analyze here.

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Post ID: @1knz+1kuuLkkr

Jolly_Molly, A lot of employees that were laid off were remote employees that were either hired to work remote (like myself) or had their office closed a few years ago and were told they didn’t need to be concerned about their jobs and that they were now considered full time remote employees. Some of these employees had 30+ years with Fiserv. After proving that we could effectively work remote, we were then told to either move to an office, which in some case hundreds of miles from home or be laid off. After FB took over the whole culture of the company changed for the worse. We kept hearing about how important the clients and associates are, but what was said sure didn’t match the action that the “leadership” team. The employees saw it and the clients are sure feeling it. So, Jolly_Molly you can kiss my laid if A$$!

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Post ID: @1eli+1kuuLkkr

What we'd enjoy most, dear Molly, is to work for a company that we felt actually cared an iota about our well-being. From massive layoffs, to forced RTO, to menial if any raises, they show time and time again they absolutely only care about financials and stock price (which they are doing a poor job on btw).

You also mentioned talking to our managers if we feel frustrated. I guarantee you everyone of us have. You know what my manager told me? That communication now only goes one way. Top down. It's a "my way or the highway" type management system. But you already know that.

I've watched many highly productive people in my own area and adjacent areas leave for greener pastures. I've yet to hear from any I remain in contact with that they regret that move. But keep pushing the corporate talking points, as we edge closer and closer to the scrap heap. I'm sure they think you're doing a fabulous job with the messaging.

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Post ID: @1rbo+1kuuLkkr

anyone find it ironic posting about company morale on a layoff board

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Post ID: @1orl+1kuuLkkr

70 upvotes already? Obviously posted and spam-voted by one of FB's goons. I hope the clients are watching this page to see where their money is going.

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Post ID: @1sbm+1kuuLkkr

"people based risk" - The company has mismanaged finances so badly that they are unable to make regular payroll, so they lay off more people.

This post just tells me that this HR employee knows that more layoffs are coming for Fiserv, but they want to extract the maximum amount from the employees before the employees are discarded.

They don't view you as a person. They don't even view you as a worker. To them, you are only "people based risk". Something to be eliminated.

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Post ID: @1pmn+1kuuLkkr

Great answer from @1vyu+1kuuLkkr. Thank you, and yes, I respect and acknowledge the points you raised there.
Moll

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Post ID: @1due+1kuuLkkr

Thank you for adding logical balance, you sound like someone who works at a level that sees both sides of the complaint. That said, I do think a catalyst for the negativity, specifically about FB, revolves around the disparity between the bottom and the top levels of the company. When a the man making $40M is scrutinizing a .19 cent raise for an employee making $29K it doesn't exactly cultivate respect. When that same man sits back and watches countless qualified people leave the company (ultimately wants this anyway to meet his financial targets) and then hires his relatives and friends, these are not exactly morale-building actions.

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Post ID: @1vyu+1kuuLkkr

The OP’s use of the word firm instead of company tells us that they’re FB’s insiders. Employees never say firm.

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Post ID: @1inx+1kuuLkkr

The OP sounds like a 1950's parent lecture, saying "just be thankful you have a job you miserable pleb". Meanwhile, I'll have a meeting or email this week telling me how much leadership "cares about associates" because "we make the difference". Lol. Sometimes the jokes just write themselves, don't they?

If leadership spent as much time listening to employees and actually doing things to improve the culture as they do trolling layoff and Glassdoor, this might not be such a miserable place to work. Pretty telling what they chose to spend their time on.

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Post ID: @ifq+1kuuLkkr

Most people are normally engaged and genuinely want to excel at work. You should be asking what is wrong with this company that creates so many hostile current & former employees?

Instead of truly understanding - they want to blame people who have historically performed well & gas-light the new workers.

Hint - Toxic leadership is the cause... it is obvious that they don't value their associates!

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Post ID: @ape+1kuuLkkr

@coy+1kuuLkkr

One SVP told us the same in a meeting - That people who left called and told him they had made a mistake. I asked him privately, if he can tell me who those people were. Crickets

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Post ID: @jve+1kuuLkkr

Sorry @coy+1kuuLkkr; I just have a different opinion to you. That's allowed, isn't it?

And - @nec+1kuuLkkr; Schmucks? Couldn't it be a Schmuckette?

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Post ID: @wne+1kuuLkkr

Many of us have spoken to management and shared our true thoughts. You know what management has done? Twisted the thoughts, didn't bother addressing them and instead shared a narrative they want to push. They don't address anything.

It's curious that you mention the grass not being greener... a lot of upper management repeats that phrase. Almost seems like a scare tactic to keep people from jumping ship. Also of interest is how leadership keeps pushing the message of things getting better. Of course they'd say that to keep the masses contained.

Balance had long left the building. The fact that you're trying to state otherwise shows that you're part of the problem.

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Post ID: @coy+1kuuLkkr

I'll agree with you one thing, most people posting on this site, regardless of the company, are pi---d off. Have you ever looked at the other forums for different employers here? Most have very very few posts. I'll bet dollars to donuts that Fiserv is easily the most trafficked employer on this site. Now why do you think that is?

Also, I've never seen another employers site here where the corporate schmucks have to repeatedly swoop in with their tu-d polish and defend a truly abysmal system of leadership. Again, pretty telling huh?

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Post ID: @nec+1kuuLkkr

Lol.

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Post ID: @eiy+1kuuLkkr

Nice one Darling and crew.. upvoting your own reply 30 times in a row. Bravo!

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Post ID: @ykz+1kuuLkkr

Brilliant post. Thank you for adding some sensible commentary here.

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Post ID: @rel+1kuuLkkr

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