Output BU layoffs today. Contractors and employees.
People in offices, not just remotes.
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Client here. Is Output the same as Fiserv Output Solutions (FOS)?
Layoffs happen. The problem here is the amount of layoffs that occur. Every quarter there are layoffs to meet financial numbers, they are just getting sneakier on how they spread them out. Instead of looking for opportunity to increase revenue opportunity the go to is reduce expense (people). Don’t worry, they will hire again and layoff more. It’s the Fiserv, er I mean First Data way!
Rumor has it all areas in output were hit.
First Data values - ignore clients, focus on profits now, forget about future growth. Since First Data took over and positions were eliminated, clients began to leave. Now with even less employees to service the clients, expect more clients to leave.
Um, actually…
I was a site manager in the early 2000’s and we were laying people off then. Not as widespread as today but for the same reason…to help pad the numbers.
I worked under the founders. There were no layoffs under the founders. The first company layoffs were under Yabuki in 2009 so the layoffs have been going on for 15 years not 30.
A company that boasts 30 years of Double-digit EPS growth that relies on stock buybacks and layoffs to keep the record. Zero investment in product, clients paying millions in fees to break their contracts. Don't get caught in this inevitable dumpster fire.
Bunch of people laid off today and yesterday. Probably more throughout the week.
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