https://www.bizjournals.com/milwaukee/news/2022/11/03/fiserv-headquarters-incentive-in-office-minimum.html
8 replies (most recent on top)
Selling Fiserv secrets to competitors is old hat and nothing new.
As an income scheme it skirts social security taxes and other taxes based on income to the employee since it is unreported revenue.
It’s an old and well known practice to many employees. Not sure about fiserv but many employees practice this.
https://www.tmj4.com/news/local-news/fiservs-new-headquarters-requires-most-employees-to-work-in-the-office-under-city-agreement
Fiserv's new headquarters requires most employees to work in the office under city agreement
60% of Fiserv's full-time employees' hours must be spent in the office in order for Fiserv to collect the full $7 million from the city.
Wow...just...wow. Brings new urgency to badge report analysis department, they're probably hiring...
Execs owning the real estate used by the company is old hat and nothing new.
As an income scheme it skirts social security taxes and other taxes based on income to the executive since it is lease revenue.
It’s an old and well known practice in many companies. Not sure about fiserv but many companies practice this.
I heard from a former Fiserv employee that the landlord of the Fiserv Chicago building is a Fiserv executive who's leasing the building or part of the building back to Fiserv. Not clear if this is true but I would not be shocked if other Fiserv execs are investors in commercial real estate and allowing remote work can hurt their bottom line. This could be a good journalistic investigative work from a journalist.
Wow...that actually codifies the 60% in office policy...wonder if same clause was in the NJ agreement. So...clients don't need us to be in the office, FB does to cash his rebate check...actually makes more sense...but underscores the lie. Imagine building a business model on vanity buildings and tax schemes vs delivering actual value or client support.
No paywall here.
https://urbanmilwaukee.com/2022/11/03/eyes-on-milwaukee-citys-fiserv-subsidy-includes-vel-phillips-plaza-funding-michigan-street-upgrades/
Can’t read the article but I suspect the city is saying they need the people in the office because they’ll shop and eat nearby. Tax revenue.
Lol, you expected less from Big Brother Frank? Guy is a total hack.