Please use this thread to post anything you know about what’s happening after the Fiserv/FD merger.
Even if you’re venting, this too is fine.
As of 9/26, approx 200 ppl have been laidoff in total. In ETG alone, it is rumored they are trying to deduct by 25%. Additional layoffs are expected in January and March.
re: "With respect to dissolving ETG - it is long overdue..."
Is it being dissolved? I perceived it to be just a rebrand/rename.
Fiserv will also need to put a little money aside to buy a few more “Best Places to Work” and “Most admired Companies” awards. Wait - you didn’t really think those are real awards - did you? Sorry - fake news. Those AND the Employee Satisfaction Survey’s were all just for show - just tactics that can be propped up on quarterly earnings calls. The real results were intentionally skewed and reported internally falsely.
Someone should really peel back the onion and expose how dysfunctional Fiserv is internally and how the motto of “One Fiserv” is a farce!
Dissolving the legacy ETG Name is a good start and the next step needs to be moving the Legacy leaders (JM, HF, SH, etc.) of that group who created the culture that exists today. Failure to hold that walk of shame class of leaders accountable is just embarrassing. If you are truly going to change our culture - rip the bandaid off and start with fresh, engaged and experienced leaders who are truly qualified in their roles. Reach higher!
Gyft is already effectively dead.
What do you think will happen to all the remote companies spread out all over. First Data bought a while ago like Gyft, Transaction Wireless?
Fiserv did not purchase First Data - they think they did but in the real world, First Data is taking control of Fiserv processes and procedures without care. Thus a lot of staffers are worried and their jobs are just going into nothingness — why does First Data need somebody IF their staff can do the same job? Good reason for terminations. All nervous, all looking
More is happening in Alpharetta and it's going to be bad. Some really valued people and positions across various corporate functions. Good luck everyone.
This same level of hostility was created when Fiserv acquired Checkfree and that has yet to be resolved.. That unresolved tension has created the poor customer service culture that exists today. Now, with this latest acquisition; Fiserv has doubled down on the internal tension. The term one Fiserv is unachievable and unsustainable.
With respect to dissolving ETG - it is long overdue. The SlT that was under MP was a complete joke! People in positions that they just aren’t qualified to do. Poor decision making and poor leadership potential. A boy’s club that protected each other and failed at every point to truly lead their teams. Every single one of them should be held accountable for the terrible leadership decisions they have made and for the decisions that they were scared to make that has created the culture and poor quality that exists today. When will the SLT be held accountable instead of IC’s being the scapegoats? Good leadership is a critical skill that the legacy SLT just doesn’t possess and the IC’s have suffered because of this for far too long.
Maybe time to change the culture completely and try something that more closely resembles work cultures that align with 2020!
To the SLT - hold yourself accountable for your total inability to meet the expectations of the people you are charged with leading!
October 3, 2019 Judging from other posts I'm hearing more layoffs on 10/2 in Lake Mary and some other locations. From friends that are still employed, they are hearing that there will be ~1500 when all is done during this round.
I did a search of the First Data discussions and learned they too had done this earlier in anticipation of the merger. They had lRIF'd 10-15% of their staff prior to the merger.
ETG has historically been ground zero when it came to abysmally low customer satisfaction and Likely to Recommend (LTR) scores. So I am not surprised that ETG has effectively been dissolved and will be absorbed into First Data's Technical Services Group. I've never researched FTS' customer satisfaction scores so I couldn't speculate on the wisdom of this decision. Judging from some of the discussions on the First Data boards, they are still seething from the layoffs they endured earlier this year and there are more than a few comments expressing elation that Fiserv suffered similar fate as many of their own. Judging from some of the opinions expressed on the First Data boards, I would anticipate some hostility as the two cultures are merged together.
Fiserv is a very sad place right now as everybody in Tech services trusts nobody and I would imagine resumes are being updated and distributed now - everyone probably job hunting. Nobody feels safe and we do not trust the word of management. Be afraid - very afraid.
HF said no one is considered safe
That is always sad to hear news such as this. I had left Fiserv in December of 2018. As a former member of ETG, I could see the writing on the wall. I got quite a few calls and texts from former team members who had lost their jobs in the past few days. And a couple of offices I had built/supported had been closed.