FB allegedly took a huge payout during Covid and even gave hourly workers a 25% raise on a temporary basis because “times were tough, and spending was down”. Fast forward 2 years, times are tough, Covid is greatly reduced, but his salary increased, he sold a bunch of his stock, he took away the temporary increase AND he is now laying off all these people. What had happened? Is he getting revenge for RTO? Does he just hate people? Does he not are about the company? Just from retirements and the great resignation, we lost many of the most talented people. Now with layoffs, there goes the rest.
4 replies (most recent on top)
The only people that go the 25% where those that could not WFH. After the RTO thing started that went away.
The only person at Fiserv that Frank thinks cannot be replaced is himself. Everyone else is expendable.
This is why Frank wanted to get rid of the FD brand and go with Fiserv…. Bad reputation with disgruntled clients
I can't help but think about the clients that were left completely in the dark. I know the legal department can deal with that but the damage it does to whatever is left of the Fiserv brand is unimaginable.