HR is actively laying off employees in Fiserv offices today. Multiple people were handing in laptops today as of Nov 18th. Watch out!! Rumor has it they are laying off about 7% employees, with an emphasis on RTO.
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Fiserv is now requiring that level 11 exempt salaried employees and above be in the office 9 hours per day. If you have folks reporting to you you have to be in the office 5 days a week. Otherwise 4 days in the office and option to work remote on Friday.
I left Fiserv in MD 4 weeks ago and I’m glad I did. I had a WFH exemption but my Sapience always showed high amounts of time working. I rarely left my desk, stressed every day about being fired, never enough help with the work, and the company gave zero ****ks about anyone. When it was FD, it was a great place to work. Then Frank came and started slashing and never looked back. When he ripped the hybrid schedule out from under us, I lost any respect for him I once had. I couldn’t stand to listen to him talk. When he stood on national television on Wall street and said “we don’t come to work in pajamas”, he made me physically ill.
Several people in our department were laid off this week. We heard stories c months ago this was coming because we work from home. However, when it happened we were told that the lay offs were global and we were impacted. Our jobs cannot be filled for at least a year because they eliminated them. Our department brings in the revenue. It was already understaffed. This was not reflected on paper for the numbers but because often times we had to setup additional internal meetings to solve for solutions that were sold to merchants that did not work. It was known in our department we had the knowledge and the contacts to get the projects back on track to get the revenue in. The people that were let go had 20 plus years of experience highly skilled people who know how to think outside the box. The work we did were not paid at market rate. We were all seniors in our jobs but our job titles did not reflect this. It was no surprise to learn that people from our department who left the company were paid substantially more money by their new company.
Just to add @1iix+1vysbDNi I worked for both Fiserv then First Data. I liked my time at First Data much better than Fiserv UNTIL Frank took FD. It was a great company full of passionate hard working employees just like Fiserv. Frank was the destroyer of both companies.
Laid off Monday 11-18. Got a random One on One with my boss's boss added to my calendar late Sunday night which was odd. Joined the call and HR joined and I knew what was going on immediately. Seems like they fired me because I was remote, but I have been since 2020, and with the company since 2019. I had letters saying I was RTO exempt going back to 2021. Guess loyalty and knowledge doesn't matter.
Ad-hoc meeting. The "impact" to our department is over..... dufuq!
Fuhdat. It bites! Now others have to absorb the work from the lazy pos's that's going to cause escalations and more work for the ones THAT do work. And no benefit with the work overload - other that knowing you have a job.
They called me in a meeting and told me this is my last day to work. They stabbed us in the back. If you are a US employee, you will most likely be replaced by another off-shore employee to save money.
The funny thing is that they have that slogan in our signatures "FISERV recognized by Forbes as one of America's Best Employers 2023|2022|...etc"
They laid off my managers 2 years ago and now us
You are not safe there with this management.
They also switched our PTO to be "Unlimited" before the layoffs, so that you can't go back and ask for PTO to be paid.
It used to be a good company but the new management is horrible.
I got an invite: “Team catch up”I thought it was finally a 1:1 I’ve been waiting months for.. I see my bosses boss and HR guy (2 pieces of garbage) I worked all day, rug pulled from under me, monsters and heartless ba----ds? I haven’t slept in 2 days.. right before holidays? Saving money, cut down costs? But had Michael Phelps on a meeting that must have cost a fortune, makes no sense.
Had my weekly meeting with the manager...but in a conference room instead of Teams. I was basically expecting to get fired because of this and the fact that FTS just took over our department. Corporate culture su-ks here as well as the benefits. Go work where they will pay you what you are worth and won't pull the rug out from under you. They even took the spoons and the little creamers out of the kitchens to save money. BTW there is not enough parking for everyone either. You have to park in the hotel and take a shuttlebus after 8:15. This building is in the most ridiculous spot on Earth as well. It takes 20 minutes to drive up a mountain...Anonymous in NJ
It su-ks that the culture at fiserv has become. "Do the job, to get the job" the biggest BS ever. Give me the pay for the job I am doing!
They take advantage of the hard worker and the lazy DA's get away with it.
10 people from one organization. "Due to price reduction, performance, and in office hours-not being sufficient"
Was fired right before I would go on maternity leave due to “company trying to cut down costs”
I got layed off as of yesterday due to “business needs” they have been laying people off for the last three months including managers. I think it’s something bigger going on within in the company they are not telling us about
Two coworkers were let go this week not because of the work they did but rather the amount of hours that were worked in the office vs out of the office. The real kicker is that when my coworkers took their time off, that they deserved, it was counted against their time in the office.
Frank is destroying this company!!!!
Fiserv use to be a decent place to work but this new “First Data” version of Fiserv is disastrous.
After lunch, I was told to stop what I am working on right away and join a Teams meeting. 11/18/24
Job Title/Position Severance Pay Minimum
Senior Vice Presidents and Above (Grade 17 - 20) - 26 weeks of Weekly Base Pay
Vice President (Grade 15 & 16) -20 weeks of Weekly Base Pay
Director (Grade 13 & 14) - 16 weeks of Weekly Base Pay
Manager and Professional Personnel [Management Personnel, Exempt Salaried Personal (Grade 5 - 12 Exempt) - 10 weeks of Weekly Base Pay
Hourly [and Non-exempt] Personnel (Grade 1 - 6 Non-Exempt) - 8 weeks of Weekly Base Pay
Are they offering a decent severance package?
Nov 18- Fiserv laying off people. They set up meeting with HR and without giving any reason they are laying off employees. Company’s management is very toxic. They fire people based on sapience not based on skills and performance. Even though Employees deliver everything what they being asked to they get laid off. Company does not care for employees at all.
I was laid off today, had it through Teams meeting with my boss and HR woman. I am happy to leave Fiserv after 24 years. I am close to retirement anyway.
I got a meeting invite from my bosses boss and when I joined, HR joined. I knew then that I was gone. They reference RTO but zero details on how that was determined/calculated. After 20 plus years, good bye Fiserv!
Are we just being messaged by HR? Or will bosses schedule meeting?
What about remote?
7% is too high