Thread regarding Fiserv Inc. layoffs

@as Vishal is great, but some of the product teams under him are narrow and stuck in their old ways, and becoming a product-led company is a long, winding road. I can't say how CoreAdvance is progressing, but DNA is a mess. And 'Fiserv will bounce back'? Whoever wrote that must be new here. Bounce back with what, though? Most full-timers have been cut to bare bones, and the plan is to fill the gap with contractors and offshore teams who'll give 100% of exactly what's in the SOW. Great people, but nobody gets 'One Fiserv' out of a ticket queue.

The analysis is correct, but also calls out the biggest issues we face here. Prior to the new leadership, our messaging and strategic direction was borderline non-existent. You had folks like DW awkwardly stumbling through the CoreAdvance story, leaving clients and the market terrified. Now that new folks like Vishal are in and have had to understand things and explain them from an outside in perspective, clients are catching on. The hurdle now, delivery. It will take investment and FOCUS on work key to the strategy as well as care to not over consolidate the product space. This means Fiserv needs a clear vision and roadmap, at an Enterprise level, to ensure we are spending our ever shrinking capacity of talent in the right place and ensuring we cover the gaps left by our own consolidation (partnerships and strong product bundles). Common components is key to this as well are finally attempting to deliver on the “One Fiserv” concept and the work should reduce dev/PS/imp overhead for clients. The biggest risk though remains what it always has been here, politics. If you want common components and reduced friction, sometimes money doesn’t go all to one product vertical, so how we manage P&Ls that contribute to a comprehensive client contract is a massive hurdle when every executive just looks at the current quarterly forecast. So the shift needed to succeed is becoming a product driven company (remember Fiservs selling point has always been bank infrastructure) that sells according to client need (segments CAN be a winner for us if we finally do what clients have been begging for and PARTNER with them to ensure they can deliver on their own financial strategy). The good news: our biggest advantage is scale, clients are not looking for us to provide the very best of breed service or latest capability. They want us to be a solid backend and to provide them turnkey opportunities to add in more innovative technology (be that first party OR third party). So the really meet and exceed client expectations, we just need to improve the way our silos work together. As anyone who works here knows, we have tons of good, long term folks at the director level and below who genuinely want to help clients. Where we falter is the revolving door of nepo-hires and VP nobodies who stop all efforts those lower level folks attempt to make. Clean up the mess at the top and ensure executives give a clear vision (and continue to ensure it’s adhered to) and Fiserv will bounce back to its original place as the best financial services provider in the market.

This is an outside-in view trying to raise stock price/value by fooling people into buying into this POS place for their own exit liquidity.

Those who work here and see how the sausage is made know a very different story.

"attrition peaking" but still occuring