Fiserv was never perfect but it was a place one could come in and perform and expect to be rewarded for a job well done. This culture was destroyed when First Data acquired Fiserv. I know the headlines say vice versa but it did not play out this way. Frank came in and manipulated his way to having complete control of the board of directors and Fiserv upper management. The bad debt obligations he made at First Data are now hidden somewhere in the fraudulent balance sheets that he and his KKR buddies pass off to Wall Street. Once Frank and his fellow parasites su-k the corpse of Fiserv dry, they will leave and the rest of the unfortunates who still work there will be left with the dry bones. To those who cannot get out for whatever reason, I hope that you are able to sustain employment until the very end. God bless!
11 replies (most recent on top)
7 more workdays until I escape! Crushing work load and stress filled days. I’ve had a long career but I’ve NEVER worked in a more dysfunctional place. We and our clients are dependent on other departments who couldn’t get out of a tunnel with a bright light! Every day is a painful exercise in hoop jumping only to find yourself in the same place you started. The culture is circling the toilet bowl, and you’ll eventually end up you know where…
Original fisrv was a better place to work than orignal first data. Had a friend in coral springs tell me not to apply after leaving Ultimate after the kronos sale.
Excellent post!
Money talks and clients walk.
To the previous two posters, I see your point but Fiserv did indeed buy First Data. Jeff Yabuki wanted to expand Fiserv's business adventures and delve into Payment Solutions, which was First Data's specialty. There's nothing wrong with that decision and it makes sense because that's where the industry is going.
However, where things went wrong, in my opinion, is that JY took a nice compensation package and handed over the reigns to FB. He had been CEO for 15 years. What more did he have to prove? Had JY stayed in "power" at Fiserv and kept the same culture as we had before, we wouldn't be in the current situation. Now, did JY know this was going to happen? I can't imagine he didn't, but money talks.
First Data didn't buy Fiserv. But they most certainly duped Fiserv in every possible way on the deal.
They tried to make us believe that Fiserv bought first data but it's obvious that is not the case. All the legacy Fiserv management is gone and all the roles are filled by First Data management. Now they don't even try to hide the fact that First Data bought Fiserv. It's a mess and it's only going to get worse. We will look back in a year with our new company and realize that forces severance will be the best thing that could have happened to us.
We were forced into our office before they closed our office and the only thing we collaborated in person about was how much more focused we were working from home. When we had questions about the work we still used teams.
Agreed, as a family, we’re trying to figure out our best next move. Uprooting us to sit at a desk is crazy, My clients ask me for repeat projects. Losing a ton of knowledge and talent, so unfortunate.
Truth
FiServ has become one of the companies I tell people to avoid, if you must take a job there, then use it only as a stepping stone to get a real job somewhere else.
I agree with the OP 100 percent. I could never have imagined the downward spiral from what was a cohesive, well functioning business unit to the dysfunctional mess we have now. All of this is totally to blame on executive suite decisions - layoffs, layoffs and more layoffs. Poor raises, few promotions, cheap budgets. Bad infrastructure - every permissions a struggle. Now forced relocations and remote terminations. DONE after pouring my heart and soul into 20 plus years.