@d9 Revenue is reported on the income statement, not the balance sheet
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They can't and won't. Revenues 'lack of' is what trashed the stock. They are in the process of morphing into a MUCH smaller company, hence the layoffs. Eventually if they can keep revenues steady margins should improve as payroll reduces, other expenses shrink and maybe some favorable debt restructuring occur. IF that happens perhaps the stock MIGHT recover some, but not what it was.
Deconversion fees. As more customers become infuriated at Fiserv, they will be willing to pay extra money to get out of their contracts. This will be shown on the balance sheet as an increase in revenue and make it appear that Fiserv is growing as it is shrinking.
@OP RIFs don't increase revenue. They remove cost and help maintain margins in a declining revenue environment. Increasing revenue requires selling new clients, making existing clients happy and willing to expand their services or, to an earlier poster's point, the client expands their deposit/client/member base increasing recurring transaction & services costs. So, how's FISV doing at all this? Bueller???
@a5 Either you are naive or stupid. I certainly believe that you are both. Your manager or SVP won't tell you anything. Their orders were to not inform their employees of impending layoffs, period. If people knew they were getting laid off in advance, how do you think they would react? Most would call off, take PTO or coast.
Fiserv is going to reposition itself as a new type of financial instution, similar to a bank but by tech bros
Wasn't it supposed to be Argentina?
This has been asked by many for years. The company likes to tout organic growth which is a head fake. They’re taking credit for the growth of their customers. When a bank gets bigger it brings more transaction volume with it. True revenue growth - sale of new products, signing of new clients (above the loss of existing clients), contract renewals at attractive prices - is negligible.
How about you get off of layoff.com and talk to your manager or SVP of your function? You may actually get a real response versus some random on here pretending they know.
We got told today that they're saving money by offshoring our job functions to our offices in India. This is what they're doing and it's BULLSH-T.
I hope this place goes under. We have merchants migrating daily in my BU alone. They are fed up with high processing fees with non existent support. They think agenic AI is going to help streamline things. More people will be replaced. It was already outlined in late 2024 that Customer care folks will be replaced by Ai