Thread regarding Fiserv Inc. layoffs

I don’t know what to say about your lack of a promotion. The “freeze of promotions” you’ve been sold is a load of BS. I just promoted two people last year.

ofd here - I've gotten bonuses & raises (while both being paltry) every year I've been employed.

@4rie+191jPSeK

You are not kidding. I've been working with your team for months and I've only seen about five minutes of work from dozens of employees. That is five minutes combined, not each. It is unbelievable how little work the entire team actually does. It is the perfect example of how reality is irrelevant, what actually matters is that the reports look good. As long as your donut charts turn from pink to green everyone will be happy. I like how nothing is happening for my product, but somehow the report shows that progress is being made.

Prior to the takeover, Fiserv did have that list. Employees may not have always exhibited those traits, but Fiserv did.

An employer needs to earn the below list of things similar to how an employee earns theirs. It’s clear from the OP and the rest of the threads on this site that Fiserv (new, old, otherwise) does not.

Trust
Loyalty
Honesty
Integrity
All things missing in this situation.

Managers are put on a performance plan if their engagement scores are low. Prior to pandemic they hosted happy hours, gave promotions, special assignments, whatever it took to get a high score. One SVP actually gave the people taking the survey the goal of filling in high scores. Win/win!!!

In this time, if other options are readily available, pursue them versus staying in a situation that makes you unhappy and spreading that unhappiness to others.
Every person's experience may not be the same as yours and you could be k–ling someone else's dream. Can you honestly say that everything is 100% not your fault? Is there something you could have done that would have resulted in a different experience?

You get back what you put in.
Negativity breeds more negativity.
Try a little happiness.
Find the blessing in it all.
It could be worse....you could get Covid and die, hit by a bus, shot by a cop...
Just saying.

To whoever keeps posting stuff about engagement surveys:

100% of people “engaged” in a survey about the realness of unicorns doesn’t change anything about the realness of unicorns.

To: I Love working at Fiserv - assume not sarcastic FData shill, but if that is your work attitude, your sorry a– deserves to be fired. All my colleagues I knew had a work ethic!!! But if this is reflective of First Data? Enjoy the kool aid.

I love working at Fiserv. My manager just tells me i have to sit in a bunch of automation meetings but little does he know that immediately after joining the meeting I go outside and enjoy the FL weather. I have found that as long as i pump out a TFS automation script here or there it keeps him happy. he basically says i am untouchable and can continue working remote. the key is to drink the kool-aid and you can do whatever you want.

93% filled out the survey, the average participation rate in companies is 80%. Fiserv Engagement actually went up in the year of a pandemic and after a large merger. Typically these two events would normally bring Engagement down 9-10 points. By the way engagement went up in every category including our front-line workers who are hero’s who go into the office every day as essential workers keeping our country and the worlds commerce open. Fiserv scored in the top 10-15% in every category. With a sample this large nothing you malcontents can do to argue against facts. So it is you who actually believes in unicorns!

Your HR is showing again.

I lied on my survey. I'm not the only one who did. It is now standard practice in my area. I must be a slow learner because I just started faking my survey this last year. Maybe the survey should keep track of how long each employee takes to fill out the survey? Then you can see which employees bothered to read the questions before answering. I remember one year our managers told us which questions actually mattered. Those survey results were suspiciously higher than the other questions. Weird. Wonder why that happened? I bet it was because the survey results were completely accurate.

The original poster's experience is not anything new. It has been that way for over a decade. Pre-merger, merger, post-merger, nothing changed. It is a widespread and common practice in Fiserv. That post is 100% completely accurate. Things might be different at a management level, but if you actually do the work that keeps the company alive, then this will be your experience.
One thing you might have overlooked is that new employee salaries do keep up with inflation.

Hey HR, here is a little tip. Maybe don't brag about how bonuses are being paid after cutting benefits for a year and then permanently cutting benefits. That form of bragging might be less motivating than you think.

@1cqs+191jPSeK you must live a world of unicorn and fairies. First off lets say that company survey you are talking about is a little skewed. It doesn’t give HR and senior leadership the full picture of the health of the company. Especially, if you have people coming to this board to vent their frustration or see if they they are getting let go. This means you failed as a company to create a culture that thrives on empowering associates to do their best. Your C level leadership frankly doesn’t care about associates as stated in several “All Hands.” I’m paraphrasing “I don’t care about your ideas” was stated 13 times in roughly 20 minutes from two different D level executives at the last all hands .

Doesn’t this sound like toxic leadership at a high level in the company? Why doesn’t the survey ask deeper questions about culture, do you feel empowered to do your best, performance review satisfaction, 401k, ESPP, medical, Equality, educational development, etc.. It doesn’t seem like it is something you truly care to hear or fix. This is probably why you have a Fiserv venting board of “Fiserv” su(ks.

I would personally enjoy to see how many actually filled out the survey by % compared to prior years, and compare percentages of attrition in prior years to d level executives. I bet you can find the toxic leadership in the company. I would also look at people that had been at Fiserv for over 3+ years and talk to them about why they left. I bet it has to do with the new sh1tty leadership style that squashes innovation, and it is why talented people avoids this company.

If you can’t see the survey doesn’t spawn continuous improvement, what is the point of it? The major problems started in 2019 after the announcement of all “WFH” employees are fired if you can’t go into an office. This showed a complete lack of tact, and loyalty to employees. Why in the world would anyone want to work for a company that will say “It is just business” and let you go because you are reversing you policy on WFH regardless of how many years you’ve been at the company.

If you are having difficulty keeping up with the requirements of your job title, you should take advantage of the mental health resources offered by Fiserv. It isn't healthy to just whine about it!

Try not to get any in your hair.

You can always tell when a true post strikes a nerve because someone (HR?) quickly tried to post a BS thread about how awesome fiserv is lol

You can’t argue with truth, and the truth is.. Fiserv is not a great place to work anymore. Plain and simple.

@1cqs+191jPSeK - HR much?

Not a layoff thread really but agree with Fiserv - benefits - post. After three years I left just before the First Data tornado came in and about 80% of my department soon vanished thereafter, all on their own free will. Others in other departments terminated of course. Our manager tried to get an increase for our group - denied, and our work was significant. Even today, talent scouts cannot believe our pay rate - they laugh. That was Fiserv and FData has made it far worse. Used to be a kinda good place now a horrific nightmare. Work for Fiserv? Gone, work for First Data really.

401k 1.5% matching s—s. far below the industry.

You can speak for yourself, I’ve seen the results of a survey taken by myself and 44,600 others. It is a statistically valid measure of employees intent to stay and the level of pride shared by others. The results are exceptional because Fiserv works hard to do everything possible to support its associates. Maybe, you had one bad manager who isn’t represented by the 5,000 who also had stellar marks on the survey.It is obvious you didn’t have a good experience and that is possible but like the majority we are sick of those that hang out on boards and try to lecture us about our real life experiences in the hope that somehow what, we aren’t intelligent to reach our own conclusion. I commented not because you shared your opinion but because you weren’t providing a fair or balanced view to the original poster. Good luck dude you will need it!

Yes it does

The engagement survey that Fiserv does not accurately identify the state of the company.

The engagement surveys are always a fair and honest assessment of employees feelings They are legit

Well @tas+191jPSeK my experience was the same as the original poster after 10 years at the company. Note, I did move to new roles after a few years because that meager 2% raise doesn't cover inflation, and the performance review doesn't mean anything. The VP's are given a small amount of money for top performers, and if you are lucky you will get a larger than 2% raise. The larger raises would typically come around June after HR signed off on the increase. I was always the person that got highest marks on my annual reviews; however, i only saw 2% and my managers always said they wish it could be more.

The senior management still hates the idea of Work From Home (WFH employees were let go just before COVID); they still don't invest much into the development of employee's, they cut benefits, and let people go on a whim to make their financials look good. I'm not sure why you would want to come to this company. Unless you like fearing that your job could be cut tomorrow if you are not able to come into one of the main offices when the senior management just changes the policy (Like they did in 2019). Additionally, you are one of several companies that pay bonuses to employees during the pandemic, and i think you are one of the only companies that siphoned from the employees benefits packages to do a total of 2 billion in stock buybacks (Look at the Sec Filing for the company). If you decide the come to this company, remember you are just a number to them.

I’m not speaking “for” anybody.. I’m just sharing my honest experience with my last 6 years of employment with Fiserv. You tell me to stop speaking for others, then speak for me and incorrectly assume why I’m complaining lol, nice. It must be a FD thing to tout how many people responded to a survey vs what they actually said in the survey, because it was horrible.

Associates get bonuses? Great leadership? Flexibility working from home? The majority of other posts on this site speak volumes as to who is speaking for who. Nice try though

I'm in agreement with @tsh+191jPSeK ! Stop with the dishonest negativity.

Don’t speak for others you are just a disgruntled one-off.
For the person considering. Great benefits, competitive base salary, 401K, Employee stock purchase, Rewards, bonus. In fact we are maybe one of the few companies in the world paying a bonus in the year of a pandemic. Great leadership, award winning resource groups, flexibility for work from home, modern campuses, respect for diversity and inclusive environment, training and career development. 44,600 just finished an employee engagement survey and Fiserv scores in the top quintile. What you may be hearing from the negative Nellie is a former original Fiserv employee who is upset their ceo got canned and the current ceo actually expects a fair days work, (which is what our clients expect). Great secular trends in the payments industry. Great choice to join the new FISERV!