Thread regarding Fiserv Inc. layoffs

Thinking of working for Fiserv? Here is some info that you need to ask hard questions about:

This is what you're facing (or used to, at least until recently):

Environment: Most teams are a core team of good ol' boys who have been with Fiserv for years, if not decades. They are often very close friends. Also in this team are 1-3 sacrificial lambs, hired specifically in case of layoff. Here is how it works:

1) Fiserv lays off x percent of employees on a biennial basis, often newer. The sacrificial lambs are given their pink slips. The good ol' boys are safe.

2) 3-6 months later, Fiserv goes on a hiring spree.

3) The team takes on new people with little regard towards their long-term employment. Usually the new hires are either naïve, incompetent, or both. There is little training or ramp-up, and little work is given out to these newbies.

4) If a core team member retires, quits, or dies, one of the sacrificial lambs are picked, given more time/training/assignments, are quickly ramped up, and in turn becomes one of the core members. Otherwise, the lambs have a very slack schedule for the 18 months they are expected to remain on the team.

5) About 2-3 months before the Layoff Lottery, the sacrificial lambs are suddenly brutalized by the team's manager for being sub-optimal, underperforming, etc. The manager has already marked them for layoff, in order to protect his core team.

6) Go to Step 1, rinse, and repeat.

The only real hazard is that a given smaller region eventually runs out of suckers to hire on. The other hazard, the titanic number of negative Glassdoor reviews, etc.? HR and "Brand Managers" are deployed to put in fake positive reviews, pressure newbie hires to put in positive reviews, etc.

From the looks of things, it appears that We may finally be reaching the end-stage of this tactic. Nobody wants to work for the place. Customers are jumping ship. The C-level is having to mumble and lie their way through earnings calls, and investors aren't buying it.

The rest is just sitting back, munching popcorn, and waiting for the whole thing to crash.

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| 1641 views | | 7 replies (last May 12, 2021) | Reply
Post ID: @OP+1aMcN03Y

7 replies (most recent on top)

Two questions.

1- Do the temps to hire ever actually get hired

2-the job of sacrificial lamb doesn’t sound too bad for the first year. Where can I apply :-)

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Post ID: @2yyl+1aMcN03Y

Excellent indeed. I was a temp-to-hire contract only the latter word - hire - they hate to use and after 2 years, I realized AIN'T HAPPINING even though my group was rock solid. So departed and most of my group later departed, on their own. Temp to hire generally assumed one year ---- with pay increase ----and much as I liked Fiserv and now hate FD - I realized the truth. Learn something, then quit.

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Post ID: @1yod+1aMcN03Y

I heard that they are doing temp to hire contracts in some groups. I'm wondering how many group at Fiserv are doing that now ?

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Post ID: @hgh+1aMcN03Y

Wow, you’ve explained it perfectly. And I know. Good synopsis

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Post ID: @koa+1aMcN03Y

Avoid FiSlave at all costs. They are more interested in finding ways to skim from your 401K than developing you as a person. My manager basically tells people "wear a smile or else" - you are not allowed to suggest improvements at this prison.

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Post ID: @giz+1aMcN03Y

Getting popcorn. I've seen this first hand.

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Post ID: @tyl+1aMcN03Y

Well-said. Especially agreed regarding the sitting back and watching the whole thing crash part.. that is basically what I do in my role. I just kick back, browse LinkedIn and watch and laugh as the company frantically hires a ton of paper pusher positions that tout "agile manifestos" as a last-ditch effort to try to stay relevant. My manager has told me that the company is actually having quite a difficult time finding new talent who actually want to work at this company.

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Post ID: @gpo+1aMcN03Y

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