It’s actually pretty brilliant in a sadistic way. They have plans to either sell it or replace it by an acquisition. Either way, they’re going to get rid of a Lot of people sometime over the next couple of years. Also either way, they don’t really care about what we’re delivering, as long as customers don’t start leaving beyond a threshold.
Their goal is to get people to rage quit and/or pick up the pace on looking for another job. They won’t backfill, so the more overworked people are, the more their lives will su-k. And if they can, they may start putting people on pips to fire them for not doing their 3 jobs. If annual reviews are harshly graded, we’ll know that piece at least.
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If I were to guess, FB plans to sell off the Banking side of the business. He is just collecting termination fees for a while, then selling to the highest bidder. It is what venture capitalists do (KKR). It is a sad situation to take a stable, profitable, viable, and reliable company for clients, employees, and investors and turn it into a shell of a company where no one cares or has the knowledge of the platforms, software, and banking industry. Fiserv employment agreement with FB to serve as President and Chief Executive Officer through December 2027, he will be 68. Time is ticking. And where is the BOD on all this calamity?
The banking side suffered and is suffering because clients were fed up with Fiserv. They incorrectly thought that big clients would pay to move to the new platform, and many decided to move elsewhere or in-house. Some of those that moved to the new platform have already or have plans to de-convert to somewhere else. Now they are consolidating platforms and cores. A strategy that is a decade late.
Sorry @OP+1vKlqotd your late we have been singing this story since late 2020. The only question is for "coach" is when does KKR see the flash sell sign.
Lets face it - coach is getting sla-ghtered on the banking side due to his bad play calling. What he needs is someone to tell him to make the necessary adjustments to win. Instead he has surrounded himself with yes men. He tells himself that the problem is the players, they just aren't working hard enough, and the yes men go along with it.
He can acquire any company he wants to - get a whole new roster of players - but that will never fix the bad play calling & we will have another losing season on the banking side!
Coach, start asking people other than the yes men what is not working. The problem is you may not like the answer!