Stock has almost doubled, on sites has quotas to fill, and things actually seem to be moving okay for a fair part. Why the layoffs? I just do not understand...
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Partly stock partly dead weight
The main problen is the high price of the stock price. Around February/March or sooner, there will be a market correction. The company has to keep the price stable or minize the fall down. To do that, they have to increase sales but we are in a slow economy and the clients are deconverting because Fiserv has promisef more than it can be delivered. The other option is easier, reduce expenses. That means layoff.
Greed - it's what has driven every decision at Fiserv since FB took over.
Corporate greed
The sales pipelines are empty bc we can’t deliver what clients have already purchased. Why would they buy more from a company who cannot service or implement their own products years after the contract is signed.
F was given a magic money tree. F is paid more gold coins the higher the magic money tree grows. However F has a problem because F likes gold coins but is a very bad gardener. So F cuts leaves from the tree to make the magic money tree grow bigger. F doesn't care about the leaves because Mother Nature is cruel and it is what it is and he wants more gold coins. One day there are no more leaves to cut and the tree dies.
It makes perfect sense if you look at the spreadsheet and forget that this is an operating business.
Staff = Expenses > Less Staff = Less Expenses > Less Expenses = More Revenue > More Revenue = Higher Stock Values > Higher Stock Values = More money for the Executives.
I think that about sums it up. Everything Fiserv does is for the value of the stock, as a general worker bee you mean nothing to the machine, you are just there for your underappreciated hard work.
Bait-n-switch & gas lighting....
"Everything is going amazing!"
at the same time
"lay off 7% of the staff"
In other words its a house of cards but they don't want you to know that
We switched to an expense focused business. You can address that with new sales or ensuring expenses are as low as possible. The sales pipeline us not full...