Laid off on Wednesday. Decent severance package. I’ve noting they are not making anyone permanent where I work but they are keeping people on stretches. Essentially, paying them less to do a higher position. I have a feeling they will be cut too.
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What does "decent severance package" mean? That's very subjective.
I am from First Data now Fiserv so I guess my work from home days are numbered along with the rest of my team.
@11AjO3Em-bgqt, I'm sure Jeff knew what he was getting. But Frank is the President and COO which holds a ton of power. I bet Frank is responsible for all of the integration and making the $$ work. Fiserv also added FD board members to its board, all friends of Frank. Frank also has buddies in major Fiserv roles.
This was not an acquisition, this was a merger of similar companies. And many of the big jobs are now run out of New York.
I don't see Frank leaving in the next 24 months without a massive payout. Like so much it would hurt Fiserv's bottom line. Jeff sold his soul to make this deal work.
At. Fiserv there is a high degree of accountability and metrics. If you aren’t pulling your weight it becomes obvious very fast. Sounds like Frank B has insecurity issues and needs autocratic control. From what I hear he was not respected at FD and now Fiserv culture and happiness is going to tank. FD was in huge debt under his watch. Something wrong with this picture? I hope that Mr. Yabuki who led a progressive environment dumps this overpaid individual and a few more and keeps the real talent that makes Fiserv great
To the person that commented about remote people not working, not sure what company you work for but definitely not Fiserv.
Regarding Remote positions - When KKR brought Frank Bisignano in as the CEO for First Data, the first reduction in force was the elimination of remote employees. If they were close to an office they had to go in. If they were not located close to an office they had to transfer to one else take a package. He didn't believe that you could be collaborative unless you were face to face. Agree that some people take advantage of working from home by not working but others work around the clock.
What are they going to do about these remote offices where nobody is in charge and everyone "works" from home and gets paid for doing next to nothing.
Severance depends on lots of factors, but when I got it in the neck years ago from them, they gave me what state law required (two weeks' severance because the layoff was no-notice), and an optional two weeks of additional severance if you signed an NDA gag agreement that said you wouldn't disparage the company anywhere (like online for instance).
Agree - nobody being made perm so contractors are vulnerable. No hiring either so staff reductions are just eaten up by work passed to existing staff - over-worked and burdened. One more reason why halls and desks are getting empty
Agree on not hiring - some departments that have lost personnel have not had replacements so everyone left behind is doing more work with same pay and less time. The beatings will continue until morale improves
Minimums for severance vary by level: associate/manager, director, VP and above. People who were let go had to sign papers agreeing not to disclose terms.
How many weeks of severance?