Thread regarding Fiserv Inc. layoffs

@an when Mike came to Fiserv, I did go out to PNC in LinkedIn and saw that a lot of the employees at PNC loved Mike and we’re sad to see him go! I think Mike came to Fiserv to try and fix what mess our old CEO Frank Bisignano left. FB destroyed Fiserv. I wish Mike the best.!

What a strange post OP

From my experience. He didn't really do anything. Saw him visit us and that was it. Alot of promises and optimism as always. But lay offs came at the usual time anyway. We even got a co-president now. I think its like this. If truist is doing good no problem, but if your doing bad, good luck. He won't move the needle.

Here is what I would do if i were at Truist, sell whatever stock you are holding and buy puts, chainsaw Mike is coming to town. There will be constant turnover at the top and no real coherent plan. People will get rich, it just wont be you.

@av

Blink once for yes, twice for no:

Are you having a stroke?

ML is a genuine people person. Je came by our office earlier this year and held a ton hall. He threw FB under the bus and received thunderous clapping from is that we're there. Ialso wasn't ro point out my office is a former First Data office and contains a ton of former First Data people. In the end though ML couldn't unscrable the 140 businesses under Fiserv. When I asked ML in person to fix the business unit I'm in he mentioned it was a great undervalued product. It's still not fixed and won't be despite generating a large amount of revenue. I wish ML the best. We were told to do lore with less.

The word I would use to describe Mike is meek. He’s not a tyrant but he has a very nervous presence in person. He did get shot of a lot of bad underperformers and toxic people at the IC and management level so that’s one good thing but he came in after Frank who had torn down our culture and he did nothing to fix that. Some tiny tweaks to in office mandates but after a year morale is worse if anything.

Mike as a person is likeable. As a leader he is a complete and total lightweight. Was over his head from day one and never got better - in fact the last 6 months was completely ineffective and got nothing done. No true management system or accountability system --- very aloof with other members of the management team and never even spoke with the CHRO. Total failure if objectively measuring performance - it a nice guy! loL

My sister works at PNC and she had good things to say about him. Then he walked into the train wreck that is Fiserv…Check in with the PNC group, they’ll be able to provide a like for like.

@aj so true! First 90 days playbook/ circus begins all over again. Good luck to all of us!

Why are you not only asking this of Fiserv employees, but those at BofA
https://www.thelayoff.com/t/1kv65t4yb

& PNC, too?
https://www.thelayoff.com/t/1kv65pne8

Weird@ss Shill.

It seems like he understood the client frustration and what was going on but either didn’t have the will or the aptitude to stay around and try to change anything. So in the end he was a massive expense hit that didn’t lead to any improvement. He let us work remote 2 weeks a year though so there is that, otherwise he didn’t really seem to do much. I just feel bad for the clients who get whiplash with constant leadership, organization, and account team changes. Fiserv’s only messaging for several years now is “don’t trust us because whoever promised something will leave in a week and the new guy won’t follow up”

You're coming across as being inauthentic with the "folks" and "appreciate the real talk" phrasing.

Best guess is that you're some sort of smarmy marketing/PR person, trying to "take the temperature" of the room, in preparation of "creating buzz" with a lame propaganda piece, touting the new leadership as being "for real for real" and "down with the peeps in the trenches" type of spin.

Later, TryHard.

@OP I think he means well but was somewhat ineffective at Fiserv. Seems like he could’ve made sweeping changes from day one but we were told change takes time. And then it never happened. Plenty of Frank’s people are still in leadership, which I think tied his hands. Maybe Truist will have better luck.

Well, to be fair, he did give more flexible work days and deleted Sapience. So better than Frank.

Ok well! If this is Mike, thank you for your leadership. You tried your best but that wasn’t enough. You still get walk away with $70M while the rest of us bleeps get $20k in severance. Appreciate how luck you are and use that to do some good in the world.

Lyons was pretty much invisible. We all wanted him to lead…and that never really happened. The last town hall diminished him in my eyes, still too nervous, didn’t really exude much confidence. I heard a rumor from his time at PNC that he cared about people but never really saw that during his stint here. Didn’t do much to break from the abysmal Frank era status quo.

@a2 what difference does it make at this point unless this is Mike’s headhunter. Looks like he’s already found himself another job so, what’s the point exactly, Truust and friends?

@a1 It was a serious question.

lol! OMG the comedic content on this site is fire today. Keep it coming.