Thread regarding Fiserv Inc. layoffs

A not insignificant portion of Fiserv earnings in 2023 was due to clients paying penalties to get out of their contracts. We had so many deconversions. Service has gotten so bad they are done.

Many of my clients are looking to move to other cores. They have given Fiserv so many chances to clean up their act and now they are just done with us. Most that are at the end of their term will not be choosing to renew with Fiserv for core due to horrible service issues. What is certain is that management will be surprised by this…. So out of touch with reality!

Just wait until core banking contracts come up for renewal. This segment never had the se-y double digit growth of payments, but once those FIs start taking their core business elsewhere, along with their surrounds, it will be noticed.

Continue to “motivate” ppl with more volume of work, less resources, slashed budgets and underwhelming incentives and targets will continue to be missed.

The CFO sold $26 million of his shares while everyone was distracted with the holidays…thought for sure that was the pivot of the pump-and-dump scheme they got going. Conviennt deloitte has all brand new employees this year that don't even know what a balance sheet looks like. Better throw in a massive re-segmentation in Q1 to be sure they can't untangle the creative accounting in Q3 and Q4.

Would you buy shares in a company you don't believe will succeed?

So should we sell what stock we have now at the all time high?

Reaady...fire...aim...you will never hit your target with this mindset.

If you rip the engine out of the car your not going to win the race.

Doh!

They have no clue on how to build the business.

This is what happens when the Mafia takes over a formerly profitable company. They su-k it dry until there's only bones left to sell, or it is sold off in pieces.

Zero percent of the time, we hit the goal every time!

But hey! If just the people who didn't hit 100% just tried a little more, then the company would have been closer to hitting it's number!!! It's science.

They don't even bother to tell us targets and how we did against them... they probably assume they are impossible to hit so let's not depress the worker bees

They didn’t make target because the sole and only focus was on the reporting of employee badge swipes. That was the number one topic. Hands down. Who’s where and when and how long they did or didn’t stay.

Think 2023 was bad, 2024 be like hold my beer.

There isn't even a path to make 2024 numbers. Most businesses prioritize investing in long term revenue growth that translates to margin expansion through scale. Fiserv’s lack of investment in long-term revenue growth has caught up, leaving only a few levers that will satisy short-term stakeholders at the expense of true long-term stakeholders (the employee), that have invested decades of their lives. Employees need to wake up and walk away on their own terms rather than waiting till they are picked as the quarterly sacrifice to keep the stock price proped up long enough for executive clawback provisions to expire and they can jump ship.

It is So insane that they are gutting those areas since most clients aren’t buying due implementation and service issues. Do they really expect to make 2024 numbers? Most clients have said that they will not buy from Fiserv until these two areas improve.

If you think these numbers are bad, just wait until next year! It is going to make these numbers look like success.

You make the assumption they care. They don't.

He gutted service and now gutting implementations.