Thread regarding Fiserv Inc. layoffs

I am one of the people that got laid off and it was a blessing. Management had been going downhill for a while at Fiserv. Too much micromanagement. Managers that did not really have a clue as to what was going on. Not too sure my manager really had a clue as to how to build a team. Had one id--t manager think I was not doing my job during year-end processing. This really pi---d me off: I was doing an outstanding job and there were no open issues. Sometimes people just don't know when to keep their mouths shut.

Certainly not a welfare organization Hence the crude and heartless actions

Clover doing alot layoff in Coral springs seems to be out sourcing to DR

First data had 17 billion in debt, they are going to gut the Fiserv pig down to the studs.

What do you think about the call centers?

It's not just Fiserv. Legacy FD has also had layoffs

The layoff count so far: Alpharetta had 180 employees on 1 floor and ETG department lost 90 . Any information from other locations?

So far the major round of layoff’s are going on the week of 9/09/2019-9/12/2019. It looks like they are keeping the First Data management and employees. They are mostly laying off legacy Fiserv staff that overlap with FD. From what I can see, I think First Data has become Fiserv; because, all the loyal and talented employees of legacy Fiserv that know how things are setup are getting dismissed. It is rather sad to watch, and I would expect a turbulent ride for the next 12-24 months, especially for clients. Something important to note, tribal knowledge is important for Fiserv customers. Considering how aggressive/hostile FD is being, and the poor Glassdoor reviews of First data. I would expect large amount of attrition at Fiserv for those who were not laid off. This means they wont have the right seasoned talent in place to fix issues quickly as they naturally occur. I’d expect longer remediation times for clients, delays in development cycles, and expect the stock to pull back in the next 12-24 months as clients demand compensation for outages and missed project target dates.

Tough but true posts here - and after a merger there are always overlap cuts and they can be severe and do NOT think your job is indispensable. EVER. There are always id–ts who know nothing about your job and will cut in a heartbeat. One fellow postged 26 years, top ratings and a six minute phone call to gone. Departments lost 90 and 180 here so far and it is not stopping. Smart thing is to get resume OUT THERE NOW.

"What? Do you think that Fiserv or First Data are charitable organizations or non-profits or something? What, pray tell, would you have leadership do instead? Just keep multiple redundant headcount in the same roles and not look for efficiencies? Sorry... this is business, and businesses exist to make money. If you're not good with the prospect of being made redundant, either start your own company, or instead of b–ching, make yourself indispensable."

This has got to be a response from either management or an a– kisser. Completely ignorant fool. Fiserv and First Data would have been fine on their own and people could have kept their jobs. This is about greed, plain and simple. Greed that led people to losing their livelihood. If you can't grasp that then I hope you were one of those who got let go.

It's started. My department got layoff notices yesterday

So when are the layoffs coming?

Approximately when do you think they’ll start laying off?

For all practical purposes they did buy them. They issued 22bil in new stock which means FDC shares will be converted to Fiserv shares...at a premium. Also Fiserv CEO will remain CEO of new company.

What? Do you think that Fiserv or First Data are charitable organizations or non-profits or something? What, pray tell, would you have leadership do instead? Just keep multiple redundant headcount in the same roles and not look for efficiencies? Sorry... this is business, and businesses exist to make money. If you're not good with the prospect of being made redundant, either start your own company, or instead of b–ching, make yourself indispensable.

They are going to have so much employee overlap and data centers/offices scattered all over the globe after this merger that it is inevitable they will need to make mega-cuts However they have s—ed at getting it done in the past so there's that. This merger is going to be a profit/margin decliner for at least the next 5 years.

I thought Fiserv actually bought First Data? Otherwise why spend the millions to acquire First Data.