Did I somehow miss there were layoffs at Fiserv? If I did, is there anybody who can share more info on it? What was hit, how many people were affected, what kind of a severance package were they given?
And most importantly, can we expect to see more today? Any info would be appreciated.
There have been many people who have given a great deal to make Fiserv the company it is today. I personally was working 12, 14, or more hours a day including weekends. Many times we worked 24 to 36 hour. I ended up getting pneumonia 3 times a year because my body just could not recover. I worked day, night, weekends and holidays. Every where I went I had my laptop (24x7) Now I am on LTD and I look back and ask myself why I let them do this to me. I think I undervalued myself to much. I know I was worried about feeding my family. My lungs won’t let me hold down a consistent job.
For all those moving forward, don’t undervalue yourself. Don’t allow a company to dominate every aspect of your life. Your life is to short and passing you by everyday.
380 people both on desktop support and helpdesk, along with other groups, were let go on April 15th. They outsourced the jobs to a company called HCL. And the complaints are coming in. Rumor has it the people that were hired are not very skilled in computers. To the point where they have to train them from scratch and Fiserv management is now looking at the resumes of the people HCL hired or considering hiring. I guess they figured out that you get what you pay for.
Some think original Fiserv ETG processes ate over engineered, I wonder if that is why ETG was hit.
Sadly, there are to many layoffs in the company. And it seems that we are taking on their processes and methodologies rather than they taking on ours. They don't seem to work well. Sorry to hear about your layoffs, I wonder when I will be next. Especially since long hours and hard work are not respected. I know of several in ETG that were let go and they were very good and extremely knowledgeable.
Makes me wonder how many more will be lost. But I wish everyone here the best of luck in finding a new position.
Unfortunately you are correct. They are indeed bloodsucking vampires and to them you are just a number they need to cut so that they can feed Wall Street. The year my FD office closed, your new COO took home compensation that landed him in the list of highest paid Executives that year. It was a disgusting amount. I am a conservative that is all for capitalism but draw the line at corporate greed and FB is a greedy m-f- I am sorry you are all experiencing his narcissistic management style.
These guys are all f—ing blood s—ing vampires. They don't sleep.
Good luck to people still employed. Upper management will enjoy shrimp and champagne with their layoff bonuses. Amazing how these folks sleep at night.
Severance just a few years ago was 1 week per year of service, reduced from two. But max of 26 weeks.
severence is 2 weeks for every year of service up to a max. With a minimum of 10 weeks. This is documented Fiserv policy. Better than First Data which is one week for every year.
Thanks Ryan B in HR for the info
Even a CIISP - one of the best security certs to have - does not do you for a cut here - one showed up on LinkedIn. Astonishing.
Orlando office will probably be targeted next. Extreme corporate greed in this country.
sorry you lost your job. but it does not matter how many hours or hard you work anymore. especially when companies merge like this, you will have overlapping and high salaries that need to go regardless of how good a worker you were. think about all the manufacturing jobs that leave and people making 30K or 40K a year lose jobs by the thousands every month for decades. its all about profits, outsourcing to other countries to maximize said profits. how much was your annual salary and job title? large american fortune 500 companies are no longer american they are pretty much 50 to 50 overseas workers. it is the world we live in and the one the democrats and republicans have put us in. the corporations are now running this country and sadly they are no longer "american".
"Around 90 were let go from ETG. I was one of them and I had gotten outstanding on all my reviews. I was being utilized about 50-60 hours a week too so it shows I was productive. A friend in upper management told me that they targeted high performers because the First Data management that took over ETG were out for blood after having to eliminate 15% of their own prior to the merger."
Begs the question - why would you work 50-60 hours for a place that doesn't give a sh–?
10 weeks severance, no matter how long employed
Would be nice if it was 1 month for every year
Stand corrected on the severance post - local sources can be in error. And it stands to reason that cutting severance numbers is always good for shareholder value.86
Incorrect on the severance, it is two weeks for every year.
Severance seems to be for every year = 1 month.
Supposed to be 5% across the board. Fiserv senior leadership s—s so First Data is going to eat them up.
Around 90 were let go from ETG. I was one of them and I had gotten outstanding on all my reviews. I was being utilized about 50-60 hours a week too so it shows I was productive. A friend in upper management told me that they targeted high performers because the First Data management that took over ETG were out for blood after having to eliminate 15% of their own prior to the merger.
Hit ETG - many long timers
Hit ETG - many long timers
yeah alpharetta, getting ugly.
Directors of departments being let go - duplication of effort with First Data. Also those with six figure incomes. And it is happening, no doubts about it.