No company can survive for long if its main strategy boils down to cost cuts instead of trying to win more business. There is a point where reducing costs (in this case, mostly getting rid of people) will no longer be a viable option since there'll be too few people left, and then what? The shortsightedness of our leadership is astounding.
5 replies (most recent on top)
Ok smart guy. First data turned out pretty good. We banked a ton of cash off of it then we took over fiserv. We’ll gut that pig of its cash and buy our Hamptons house. You all are just collateral damage
The company is being transformed into a pile of sh-t. It is using 1960's management style, and just cost cutting to get their big bonuses. Once those bonuses dwindle because they aren't winning any new business. Their company will go down a sh-t ho-e, just like First Data was. 17 billion in debt and a stock that flat lined. The stock price is a good gauge on how well a company is doing, and Fiserv's stock looks like cr-p.
My only remaining hope is that Fiserv tanks and gets bought out by a more competent leadership. Frank and Guy would be the first to be fired.
You know what else is FAT in New Jersey? The property tax, clocking in at 7.45% of the average income. Gee wh-z, on top of the income tax and the highest car insurance in the nation.
https://www.tax-rates.org/new_jersey/property-tax
The company is being transformed. They are cutting the non go forward businesses and are investing in talent for the next generation. Those New Jersey pay packages are FAT. Fiserv will be fine