Back in November I shared with you the brutal layoff month. More layoffs to come on Feb 15th, plus this time more businesses outsourcing. Anything Frank doesn’t understand, he wants to outsource. More associates to be outsourced and transferred to the acquiring company , a way to avoid paying severance and showing growth through cost cutting measures.
There is no relief as Frank’s contract was extended till 2027. Only one option left on the table - poor stock performance.
SVP
I’ve heard that the maximum severance is going to be 3 months, starting this year. Any truth to that? I would be at 6 months, otherwise.
The key here is to not tell Fiserv you are going to a competitor they have no way of knowing if you keep your mouth shut
I sued Fiserv over a non-compete some time ago and I won. Don't let them scare you - it is a cowardly regime for sure.
I hope you are right.
https://www.hklaw.com/en/insights/publications/2023/01/ftc-moves-to-ban-non-competes-what-employers-need-to-know-now
LOL at the HR drone trying desperately to lie about non-competes! Jokes on you, little boy, because most of us actually do know the law.
I left for FIS and a fat raise last year and haven't looked back. Frank or his minions can try and get me, but one trip to the state labor board, and the fine Fiserv gets will be large enough for me to retire on.
Clue: Non-competes are only enforceable against selected top sales positions, and against SVPs and above on the food chain. Even a brain-dead catamite like Frank isn't d-mb enough to try and cross that line.
I see the February Layoff Lottery is probably warming up again.
I've known multiple people who left for FIS. None of them were ever hassled over a non-compete.
What kind of position was it that had to resign? A non-compete would generally be focused on strategic sales, marketing, product, development roles. And top management. Like Mark Ernst. But not overly broad or universal to all positions.
If you have any unvested stock then the company can claw it back if you break the non-compete. It can also go after your paid severance.
@1tuh+1kV6ApvM if you are laid off and receive severance no court will enforce a non-compete. Many states also won’t enforce a non-compete except if you are privy to proprietary information which 99% of employees don’t have access to.
I didn’t wait for Frank to outsource my job I did it myself.
I do the bare minimum, that is show up for the “reasonable majority” and wriggle the mouse or open notepad and rattle some keys every now and then.
I let FGS take the tickets and pretty much outsourced my job while collecting nicely.
By the time they actually do get around to outsourcing me I’ll have enough severance to actually not care, recession or not.
I have decent skills I keep up so I’ll be fine. I simply choose to not use them here and to make my “work” as much of a outsourcing venture as Frank would make it.
To the poster who has a guaranteed job lined up with the competition: read the severance agreement carefully.
Any percentages being talked about?
Frank could save a bunch of money by outsourcing sales to FIS sales people. We just pay the FIS sales to show our products along with FIS's products. What could possibly go wrong with that cost savings plan?
I can’t wait to be fired and get my severance pay. I have received 3 guaranteed jobs from the competition
To start day 2 after layoff, with an already agreed upon salary. I just want to shove it to Frank and get my huge severance package - let’s call it an early Xmas gift. Please Frank fire me - I am doing the strict minimum!!! Believe me the strict minimum!!!!! One hour lunch, do all my #2s at work, all my walks at work, vacation plan at work!!!!!!!! For me this has been personal.
Fiserv associates , you are amazing and talented folks, don’t sell yourself short when you look for a job! You are a hit commodity!
Please fire me oh please fire me!!! This is my last chance for a payout before I walk.