With all the laidoff, is there a future for Elavon employee at USBank?
Nothing but laidoff
10 replies (most recent on top)
A payments enterprise is no better than its designated or self proclaimed senior leadership and that is the primary and catastrophic problem with Elavon/MPS. Too many inexperienced individuals with too much responsibility for things, business priorities and revenue positions they do not understand and have limited background or success with. The predictable end has already been socialized in department wide calls with 2027 performance to dictate the outcome.
Elavon/MPS is no longer relevant nor material in the payment acquiring landscape, having been fully mismanaged and misdirected by its parent, led by purported leaders with little to no payment acquiring experience, familiarity, skill sets or background. A once proud money making machine and an industry admired, recognized and awarded juggernaut is struggling as the parent tries to operate the business from locations where their critical customers, referrals, partners, relationships and their revenue do not reside and focuses on everything but its core acquiring business. The Elavon people who could have made a difference were silenced, laid off, demoted, layered and lured away by the competitors that valued those abilities, relationships and skillsets.
Depending on the parent's cash needs in 2027, the MPS business line will likely be dismantled, sold, merged or further contracted and reduced to an unrecognizable line item in an annual report.
Oblivion.
The problem is that the merchant card fintechs sell dollars for pennies.
@d8 It's still a USB subsidiary.
Customer attrition > net new business = No bueno. Add poor leadership and constant regrettable talent loss and you get a company headed to a discounted sale inside of 5 years unless there's a complete 180 or as GK calls it 'transformation' Elavon's juice isn't worth the squeeze for usb
@d4 probably sold to a fintech for pennies on the dollar. They're losing customers each year.
Today, I learnt that Elavon is still alive. Thought Andy’s One US Bank from years ago was supposed to put it to sleep.
Based solely on the way this post was written I would say not likely for you but you never know.
Dig in and elevate yourself.
Keep options open and resume ready.
Probably not. Elavon employees are very, very slowly being migrated to USB employees, and US-based USB employees are largely being laid off so their jobs can be given to India-based USB employees. We're all being herded to sla-ghter.