Thread regarding Fiserv Inc. layoffs

Disconnect from reality - Advertisement on Glassdoor site saying how good Remote positions are at Fiserv. Grow your future, that kind of tripe. And never mind that progressive companies are touting remote work as a growing trend. FB taking it back to the stone age.

Based on comments from JY and FB on today's call, remote positions and sites with fewer than 100 people will be eliminated before the end of the year. Remote positions will be first to go in the next few months, small offices will be closed by the end of the year. Good luck to anyone who doesn't work in one of the main sites!

Any updated news on how they will handle remote workers?

You can not work as well when you're in office. I see it all the time.

Sure sounds like Frank is a dic—ad

First Data corporate office was relocated from Denver to Atlanta for tax purposes and the CEO prior to FB was located there. When FB took control he left the corporate office in Atlanta to continue receiving beneficial tax rates but declared the executive offices would move to NYC where he was located. The company renovated a few floors in the an office building in the city to meet FB's expectations of executive offices. I expect the same will occur with Fiserv.

They won’t be leaving Wisconsin, no. It will remain a hub office for sure.

But when you have the President and COO as well as other top execs and board members not willing to leave NYC what do you have? 2 HQs?

Who is willing to move TO Brookfield for a top job? Not many people. If Alpharetta or Atlanta isn’t it the only other option is NYC.

Having Fiserv Forum naming doesn’t mean HQ needs to be there.

They'll be staying in Wisconsin. Last year I was 90% sure they would move to Alphretta but now that they singed the naming rights to the Fiserv Forum so recently it's unlikely they will dash.

You folks are all wrong about FB's future. Make no mistake, JY will retire and FB will run the show. The golden parachute will belong to JY. FD wanted the Fiserv name, mission accomplished. JY leaves, HQ moves to NY and FB runs it all. That's how this story plays out.

Let’s hope that last seasons window dressing FB gets sent to the thrift store. His methodology and antiquated autocratic approach will destroy a great company and a great place to work. Long term. Fiserv employees love Fiserv and he is swiftly altering that. Hopefully he will get his golden payout before he leaves the trail of debt and employee dissatisfaction he sowed at FD, We don’t need to find Fiserv on the “on sale markdown” rack like FD. If he hopes to retain and attract young talent he needs to get out of 1970’s work concepts. He appears to be a one trick pony who doesn’t have any new ideas other than the slash and burn approach from KKR.

@11L4Uaop-ojqd He’s not only COO but also President.

I’d say almost like Co-CEO.

This is one of those “acquisitions” that in order to get done required JY to agree to a ton of conditions. Originally I thought FB would be window dressing, kept around for a year until he was vested and paid off.

Now I’m not so sure.

And make no mistake, FB is in charge of integration, which means unless you’re one of a handful of JY favorites you’re not safe at all.

Help me understand something. Frank was at the helm at FD, burdened with huge debt and now he has the keys to Fiserv?? How can that be? Clearly he was ineffective at FD and all examples thus far demonstrate he is horribly out of touch. Why is he the COO? Fiserv had a great culture, made tons of money and lacked debt. Do you leave the keys in your car so the car thief can steal it? Seems like that is what we have going on here. With all of the consolidation needed, how about dumping that NY old FD office and making all of them report to the boss at the corporate headquarters in WI. ? What’s good for the rank and file are good for all.

As we are all pushed to work excessive hours and hours at any given moment for an escalation, being confined to an office setting means a 3 hr per day commute in my world in which my availability before and after a reasonable start and end office will be spent in a car. I will deliver less and my availability will be less. Address those who are not producing or available vs penalizing those high achievers with ethics who use the non commute time to better support Client needs.

I know this first hand because I am in Facilities. There is not enough space for everyone, as is now. If everyone actually showed up - people would be spilling over everywhere. If Remote workers are brought home - we absolutely can’t account for that. We have not been told to prepare for that so we are anticipating an overall decrease in occupation. Herbert and Ryan B. In HR confirmed this so..........

Micromanagement now by First d.... eh, new Fiserv management types.

They do not count cost per sq/ft of real estate - wrong protocol. They count cost of employee, read that salary and benefits. The fewer of those the better and the more in office the greater control you have over them. The less of them, the lower the cost. They can then go home and not be an expense to Fiserv/First Data. See, easy.

Wait... So when did maintaining corporate real estate become less costly than provisioning Skype and VPN???

Desktop services is having an enormous number of laptops returned - wonder why that is???

The collaboration thing makes no sense. The majority of the remote workers who have offices near them, do not have other team members in the same office. Geographically they are scattered around so they are still having meetings via remote methods. Sounds more like 2 private plane Frank just doesn't trust his employees.

I personally know of a few remote workers who were recently let go. I think it’s going to continue.

Ending remote employment because its not conducive to collaboration is just an excuse the Frank used at First Data when they quickly cut expense. Regardless of the reason, he did it and I can imagine Fiserv employees (legacy and former FD resources) are a bit concerned with him leading the Operations. Has anyone heard anything about that benefit going away or are we just speculating?

I work weekends and at night so not sure how going to an office would be collaborative as nobody would be there. So I would assume they would keep remote workers with off hours remote.

“does that mean all international locations will be closed out in the name of face to face collaboration”

Usually that means doing more international hiring in low-cost centers and reducing the US workforce.

Absolutely disgusting, they are k–ling the free open honest Fiserv culture - for what - to demoralize and let people look out for other options? Collaborate more in office, does that mean all international locations will be closed out in the name of face to face collaboration - in today's world, this is like taking company back by 15 years. Nonsense.

Announcement - remote workers being consolidated into centers near offices. Does not mean remote is going away — yeah right. Bye bye anybody remote. New collaborative effort to bring teams closer together guess to a common bathroom.

Old First Data generally eliminated work-from-home jobs around 2015. There were a few exceptions for strong performers.

Henry Kravis??? He is a mega staff cutter and only cares about money - See RJR some years ago, and First Data is taking over many functions internal too.