Nov 3 (Reuters) - Fiserv has cut its employee and contractor base by 3,000 since June, including a reduction of senior management by more than 10%.
https://www.reuters.com/business/world-at-work/fiserv-cuts-3000-employees-contractor-jobs-under-new-ceo-2026-11-03/
Its bad enough that before I got laid off, systems I had designed, built, and maintained a couple of larger systems were just left unsupported. About a week or two later I woke up to emergency text messages from former coworkers saying they needed immediate help since one of those systems was down. I had to inform them that I'd been laid off weeks earlier. They're not letting coworkers or other teams know before or even after they're doing this. Granted, the system I was being txtd about had declined in use and was pretty much just on life support by this time, so I only spoke to that team once every month or two, but I was literally the only support for that system.
@eb They should get rid of everything merchant related. Everything went downhill after buying FD.
They lay off the older employees as they make more $$ and cost more on Health Insurance.
They Keep the ones that they can push around and lay off the ones that speak up and actually have a clue about what is going on in the company around them, asking the right type of questions.
The stock price has bumped up a bit from the low of $48, but the company has a long way to go. The clients are not getting what they should from a company of this size.
Time will tell, but I expect a lot to be sold off in the future. It will be the only way the name survives. They will get rid of most things banking-related.
I'm one of the affected employees. It isn't lost on me how much bullsh-t this is. We gained nothing and lost even more knowledge
@bq Baby, I'd never lay you off. You're the only one who really knows how to get things done;)8=D
LAY ME OFF BABBBBBY :-o
Don't you like how he brags about it on the call though? It's like hey guys, we're saving so much money. Let's cut thousands of employees and lose so much institutional knowledge. Great for investors but will only sc--w us in the long run though
This isn't news