Thread regarding Fiserv Inc. layoffs

@be PIPs at Fiserv are a pure Fraud

@a8 i agree with you partially, but it still doesn't explain the ones that were laid off were stagnant. 2 people that i know were forward moving talented guys but were let go, and i know people who do jack sh-t are still dragging along

@bb that's what puzzles me what convoluted formula is used to get rid of people that fails all rational reasoning. Since you are at director level any idea what was the criteria? or was it pay scale that comes to mind

To be fair, this is only half the truth. Management of the company also develops targets based on budget numbers or headcount numbers. Rarely do companies really look at team inefficiencies. Layoffs are designed to reduce the budget thus management typically will not do the hard work to look for inefficiencies in the org, instead the number of people on the payroll with each department getting a target while being kept a secret. Then those people depending on employment classification typically are sent to HR and legal to review to make sure the company isn't violating the law in big ways. Once all signed off and the quota's are met, management sits back and waits for the day or the week. How often does management or leadership teams actually take a comp reduction for the sake of the employee? Ha! Putting the blame squarely on the employee is short sighted, the larger the company the less likely the high value or high performers will not be impacted. For finance and leadership, people are sadly just a number. People should understand the days of the companies acting like families or taking care of their workers is over and has been over for 10+ years. Companies have gotten lazy not holding leaders and managers accountable for goals, inefficiencies, and treating the human element of employees as just a number on a spreadsheet. Managers and leaders have been taught to grow their empire at the cost of the very people to get the next carrot instead of figuring out what is best for the firm. So for employees, go in eyes wide open.

@bq OP here. Sorry to disappoint, but it's true. And I didn't say I was the d-mber one, rather the lesser employee.

But I do wish it was me. I hate it here and have been looking for a new job for a couple months now. I'd gladly take the grade 13 severance and that sweet release.

Its random, no logic and not perf based,
Age was a factor, n products in mainteanace mode with no investments, rifs are due to employer, not employee, needs improvement were let go in april, for the rest staying what are you happy about? No increment. No bonus, 5 days in person jail, what more?

@bb be Honest, you were the one who was laid off and think that you were better than the other manager. No one will come out and say, ‘It should have been me,’ because I was the d-mber one’

@ah Take ALL PIP based dismissals at Fiserv within the last 6 months as a CLass Action Law suit.

The Truth will come out based on the impacted long term employees' profiles, employment history with Fiserv, their true contributions to Fiserv etc..

Class action law suit is needed.

Fiserv excessively used this PIP to get rid of people without paying any severance..
When they put you in PIP on their sole decision, Manager makes sure that you will NOT come out of it.

1. Puts in writing that I need to see VERY SIGNIFICANT improvement ( and what was that ? )
2. You can't COME INTO OFFICE on those days when you assigned WFH..
   He-l with this.. Fiserv in 25 years NEVER told me NOT to come into office to work.. but this manager says don't come into office..
3. Don't work on weekends to finish the backlog while on PIP..
   Fiserv never said not to come into office on weekends at your own will if you have genuine work to finish.

They put you in PIP to get rid of you, period.. could be any reason.. Age, someone else needs to be the manager.. whatever.. So how can a manager put someone in PIP and tell them not to come to office on certain days and weekends ??

@bb Thank you for your honesty. This is called True professionalism.

Over the years at Fiserv, I did the same, if my competetor was better than I was, I accepted and commended them truly for doing a better job than I did..

@ah Damn Good point..

Some folks cry that ' oh my god there is no diversity in the senior management where there is real brain required, we are not being represented' ..

The he-l, is there any diversity in NBC or NFL.. Do you see 60% white people in NBC or NFL to represent the general population ?.. are they crying that there is no diversity in NBC or NFL.. they just support NBC and NFL teams..

I'm one of two Directors in my department. The other one was objectively far better at the job than I am. More experience in the role, more engaged, more confident, etc.

And they were let go yesterday while I'm still here. It's absolutely NOT performance based.

@OP

🥾👅

Nice AI-generated zero-thought post there.

No one is indispensable period. They lay you off because they hey want to and most likely someone doesn’t like you.

I wish I could be in the room when @OP gets walked out the door. When they finally realize that nothing they do matters and management has just been throwing darts when deciding who gets let go. Their temper tantrum is going to be legendary!

@a7 Totally agree. If you are too talented and high professional at Fiserv, at some point you will be shown the door to exit..

It's pretty simple.

Are you Indian or an American? If the latter, you will eventually be laid off.

Just check your up and down votes, that tells you everything about your intelligence.

You should have been laid off.

@a9 Stop screaming dude! either you didn't read my post correctly or what? i just gave examples of what the original post was about. if I were mediocre i wouldn't have given myself as an example for that original post said.....are you out of your mind...just look at you...losing temper started screaming and pointing fingers....i think YOU need therapy

I completely agree with this post, although I recognize that it is a difficult message to hear.

People are not laid off because it is easy or enjoyable. Decisions to reduce headcount are among the most difficult decisions leaders and managers have to make, and they are rarely made without considerable thought and deliberation. When a business must reduce costs or headcount, the reality is that leaders have to make difficult choices based on the needs of the business, performance, capabilities, and the contributions individuals are making.

The best way to protect yourself in any organization is to consistently bring value. Be exceptionally good at something, continue to grow your capabilities, and work with purpose to help the organization and those around you succeed.

I understand that being impacted by a reduction can be incredibly difficult and, at times, shocking. But rather than simply hoping you won't be affected or placing all of the responsibility on the company, I believe there is value in taking ownership of your career and your contribution. Focus on being someone the organization needs, continue to develop yourself, and make a meaningful difference.

Ultimately, we may not control every business decision, but we do have significant influence over the value we create, the reputation we build, and how we show up in our careers.

@OP i totally disagree with your typical rant i've been hearing from HR and managers and placement companies, coaches, historically. let me start with myself...when i joined Texas Instruments long ago i was the only Masters guy amongst a group of PhDs as the grp was a tech development grp. I rose to the ranks, got in the top 5%, was always the main person that the grp director was ready to hear some news on my findings....guess what when the time came i was let go. my teammate at Fiserv that was let go was a guy who stood out, talented, skilled, proactive...what you're really saying doesn't fit well.
Just FYI...spoke to a cyber guy yesterday that said while some talented folks were let go on the other hand the mediocre were not impacted.

@OP
Not really the full story there.

It can also depend on the Product or Business Unit you work for.

If Fiserv starts to stop adding Dev hours to a product, and you start to see product managers getting laid off or moving somewhere else, you can bet that the downstream teams will also get laid off. So not always about skill set. It is "Does your manager Like you as a person?", How much you make vs the other person on your team. The more skills you have, the more you make, the more likely you are next on the chopping block.

End of the day - it is a well-played-out numbers game that is planned well in advance of the actual point in time you got the Meeting invite from some unknown HR Person.

Just keep an eye on the Stock price - that is always the key indicator of forthcoming RIF action, down to $48 +/- lately.

I would expect a sell-off of a major part of the business sometime in the next year. Frank's greed brought everyone to this point.

Cr-p Take

L take. Half the time the difference between worker A and worker B is the one laid off has a higher base salary.

How'd you manage to get this into the taste of boots without having a clue about how business budgets get balanced towards the end of the fiscal year

Yeah, except look at all the EVPs who are still around with no clear roles who turn into vice chairs or advisors or all the new SVPs who are still leftover from the last CEO’s ego and don’t have any background in finance and are now hiring their friends…your logic falls apart. The closest you are to being right is that everyone should expect it.