Seems like just another con job using the same old tried-and-true recipe.
Take over a company and then pillage it, break it up, sell off whatever’s sellable, outsource whatever’s outsourcable, slash staff, cut quality, reduce service, and in the process destroy a company’s most valuable assets: its reputation and its brain trust.
And when there’s nothing’s more to extract, ride off into the sunset with the loot, and lots of it.
FB destroyed First Data and made a ton of cash doing so. Now that he's locked into a 5 year contract with annual raises and bonuses for himself, he has his golden parachute all set.
It's obvious this company is imploding by designand once FB's contract is up, that's when what ever is left of Fiserv will be sold off. It becomes ever more apparent everyday seeing one merchant after another migrate to another processor.
Management keeps acquiring other busineses and touring new clients, yet we lack the ability to retain and service them. Merchants are leaving us everyday. When they find our their merchant acquirer is Fiserv, they flee very quickly. Our clients hate the b.s.
In the last quartely meeting post earnings, one of the executive committee let it slip that they want to make it harder for merchants to leave Fiserv. This is free enterprise and a company cannot force it's customers to stay. It only makes things worse from both a reputable and business view
Came here to say basically the same thing! This 'Client Excellence' strategy is nothing more than a RIF in disguise. They're fooling no one, it's not good for the client or associate or company. Which does beg the question what the h$ll is going on?
I agree with OP, this is a money grab or one could argue a power/control grab.
One Sick S-B in charge of this company screwing around with people's lives as he and his cronies make millions off of the people and clients that built this company.
Corporate America su-ks right now....
For FB, it’s rinse and repeat