Thread regarding Fiserv Inc. layoffs

This is perhaps the most helpful thread on here so far.

One more question to add to the list — what about unrealized bonus? Does severance take that into account?

If one walks away to a new gig before severance kicks in, is bonus forfeit @ Fiserv?

Anyone getting actual info on their severance and end date IN WRITING? As opposed to just verbal promises?

Option A: Relocation
They offered me 30 percent cost of living increase and a pretty decent relocation package, and just 10 days to make a decision.

Option B: Separation Package
and or staying for 6 months transition period.

If relocation is not something you would like to pursue, the alternative option is working through a transition plan to enable the knowledge transfer. You will be offered a financial package that includes severance along with a bonus for your commitment to successfully completing the knowledge transfer process prior to your departure. If this option is selected, they will finalize the appropriate transition period as your last day will influence the total separation package.

I heard it could take weeks or up to 3-6 months, I hope is not as That.
What if you find a job before… ???

What teams are being asked to relocate? No one on our teams had been approached as far as I know.

I have not received a package nor any information yet and it’s been a week since I was notified about the relocation option, they gave me 2 weeks to consider it, but right away I told them I refuse to relocate. Hoping to get my severance package and the final date so that I can manage other job opportunities accordingly.

Glad I took all my remaining well being days off, as I heard that won’t be paid out. R&R hope they pay. Not insured.

They're offering a relocation package or a
severance and transition pay if you stay until the end date which they'll provide in the package and varies by department and role. Management and above gets a tiered package and everyone else gets a lump sum based on family/single, homeowner/renter. We had about 10 days to make a decision. If you're interested in relo they'll send you to jersey to check out the building, neighborhoods and have a group dinner event with Frank. You have to move within a year and have a 2 year commitment or you have to pay relo back prorated.

If you stay on severance is 2 weeks for every year worked plus transition pay. They do have the option to ask us to stay past our end date but we are not obligated to. Package is paid out in a lump sum 21 days after your last day. You will get 1 month insurance and the option for cobra for 6 months at your current rate. R&R will be paid out, well being will not. Taxes are not taken out of relo amount, severance is taxed.

That's what was presented to me. My opinion is cost of living increase was good. Relo amount and severance is low. We have a short amount of time to make a life changing decision and no one wants to move across the country in the middle of winter. Also, timing could've been better since we were given the ultimatum during Customer appreciation week and staying to train replacements feels like a slap in the face.

Yes you can get severance if you complete the transition and knowledge transfer.

Are they offering severance deals in lieu of relocation packages? No way I'm moving for this company.

Very nice cost of living increase and an option for either lump sum relo or “tiered” program. 10 days to decide and move either over Christmas break or end of the school year. Nothing here to “complain” about just don’t know yet if I can move.

After November if you decide not to take the relocation package, do you know how long the knowledge transfer process will be? I'm trying to get a rough idea of what my absolute last day will be.

My current guess is around November 12th

And no this ain't a honey trap. Be careful with what you post. No super accurate details, but let's get stuff out there.

They offered me 7-8ish percent cost of living and a pretty decent relocation package that likely would cover the move and some of the housing stuff. It's reimbursed, not lump sum. No telling how that'll go.

They defaulted to shortest move possible and clearly my name was just one in a spreadsheet; no thought given to if that location really made sense.

I was told I have until November to make the call.