Anyone knows how many people were laid off this week?
Also, I've tried to find media coverage - cannot find anything... Why is this?
26 replies (most recent on top)
I'm all ears if anyone here -- or any current or former employees you know -- wants to talk. My email is cmullen@industrydive.com -- Caitlin Mullen, Payments Dive reporter
People record PL meetings for record to show his behavior, language and illegal and hostile behavior. His day will come. Lawyers love to take on little men like him
Have you ever seen PL's office? The man is obsessed with military and warfare. Not surprised by his management style at all.
Someone mentioned above PL being ruthless. That is an understatement! He is a mini FB. Both are totally lacking any sense of empathy-dead inside.
Our new name should just be Second Data at this point.
Frank is directly attacking all original fiserv employees. Closed our original building, firing FISERV staff, while keeping the fiserv platforms…. Except for credit. Meaning they are laying off people who can do the job efficiently, leaving fiserv with a skeleton crew to meet his promises of a higher EPS. Then force people into the office, what office? Force people to move to New Jersey because the governor gave him money. I wonder if the investment matched the decision… I highly doubt it. Clients will pay for this because there are no resources to implement almost anything. No one knows nothing. Leadership is just riding this waive while they make 100k or more to just say “we don’t have resources to do nothing”. Clients don’t have support because they keep merging with other companies, those said companies are not FOR FISERV. They treat referral clients and competitors better than their own fiserv clients because that was their agenda BEFORE the merger. I feel really bad for fiserv. It is such a hard job to master and they will suffer with little to no resources, but who cares clients are stuck with contracts that last years. What’s a little hiccup for a year a two? Maybe a refund here or there? Frank called the fiserv buildings like Oregon (which fiserv paid to remodel to just be closed) and the Florida office as redundant buildings. How does an original fiserv building become redundant? My rant is not over, then take away from employee benefits from 15% to 5% discount when buying FISV stock. A Fortune 500 company… insane. Why is the board not doing anything? Glad I am gone but they must be called out for their attack on original fiserv employees! It should be illegal and not one report to the state. However most if not all employees from Florida and Oregon lost their jobs.
Hi there, I'm a reporter with Payments Dive and I cover Fiserv (I wrote about earlier cuts). If you're willing to talk with me about this, or you know someone who might, please reach out -- cmullen@industrydive.com. Thanks!
About 1,000 this week. There will be another 1,000 next week.
Geo distributed, cannot pin it down.
Sneaky...
I heard 2000 let go
“Just drop the Fiserv name and call it First Data.“
Anen!
It has been a bloody week at Fiserv with the layoffs. I don't think any group was spared. Very dark mood in our offices today die to the layoffs. I feel for those impacted. Yiu will get through it.
I am not sure how DNA will be able to function after all the cuts they have been doing. This is not the first or second go around. I feel for our clients.
DNA training department decimated.
I have heard of impacts in Card Services, PL's org, as previously mentioned. The man is ruthless.
Just drop the Fiserv name and call it First Data.
What business units?
media coverage reporting layoffs at Fiserv is like reporting that water is wet
If the numbers for notifications to reporting agencies within a state are at the threshold they stay a few under to avoid scrutiny
What media is going to cover this kind of event? It's not as if 2000 people are being let go in a single location, function or business unit even. 10 people here, 30 people there, 1 person...it does add up though. And there's not even clear communication downstream. Direct managers may not find out they or their people are impacted until that day. And no one is discussing numbers. RIF info is always on close need to know basis, which is understandable. Change management isn't good. No communication comes out listing names. You may have worked with someone but they just suddenly disappear in Outlook, then you have to find out who takes over their role/assignments. If industry media engages, they will hear a tale of recession and expense reduction.
Because frank knows how to play the game. He is the worst CEO i have ever worked under.
Some are happening next week too. They stagger them.
I heard from my manager that we may be in a 1,200 to 1,500 range. I am not really sure, if feels big but then I really do not know. We'll know soon. Good luck to all of us.
My BU has not been impacted, I’m hearing that it will be later this week.
Hearing 1500 - 2000 total.
This week - Monday through Friday : 1.300 associates.
https://twitter.com/TheLayoff/status/1577701279073292289
this covers june '22 layoffs:
https://www.paymentsdive.com/news/fiserv-makes-staff-cuts-layoffs-employees-payments/628821/