I’m hearing that major cuts may be coming in the next couple of weeks, and it looks like VPs are being asked to provide numbers from each team. Please be cautious and consider exploring other opportunities as a backup. Unfortunately, these could be especially challenging times for anyone who has recently been on a PIP.
32 replies (most recent on top)
@qg
Yeah, not good for the NZ team!
They were at least easy to understand and to have a conversation with!
And they just got the lead on things just a few/serveral years ago.
My, my how the price point changes.
@qg is that whole NZ team office? Or just a team? Scary.
@s7 let alone that,
What’s the verdict on layof anyone know more?
Is there really an SVP of timesheets?
@qg is this real…………
@rd white leadership led to stock from 200 to 50 - what is the reasoning behind the same? If you cant work that doesn't mean you cry white dei
@qt what in the actual world SVP of timesheets??? And somehow that’s a job?? I was let go to keep people like this around and I’ve seen and heard of many such instances. I occasionally drop here for vindication but this just makes my blood boil. I need to reconsider coming on this site again.
@qt Your first incorrect premise is "first class Tech company". Its a simple situation of "too many chiefs, not enough indians", no pun intended. Move on for your future success.
Employees fill out time sheets in a way that best helps them meet their performance goals.
The manager changes the numbers in a way that best helps the manager meet their performance goals.
The manager's manager changes the numbers...
Until the SVP of timesheets, changes everyone's numbers until the company has the appearance of perfect goal adherence.
Maybe Fiserv is planning on changing this process, or they have chosen the scape goat they are going to blame later?
SVP of " Time Sheets"
Does a world class Tech company like Fiserv need an SVP to manage timesheets of the org ? SVPs are supposed to be provide great thought process for business development.. not managing time sheets in Clarity..
or a project manager takes care of it ?
We recently discovered the NZ team is going away end of September. Outsourced to India to save a buck. Yet another bad idea from upper management.
@ms You think they will send some of us to Infinite or laying off from Infinite also.
There ARE layoffs coming. Expense reductions differ between orgs. PS is likely going to be hit the hardest (mix between cuts and Infinite, I don’t know contract specifics), CS is also probably up there. I’d expect roughly a 5-10% cut to be the norm. Executives are going really struggle to show revenue growth so they will likely make big portfolio sales to PE and use the cash to buy back stock to plus up EPS and also cut headcount to boost Rev/headcount numbers. A lot of the executives are just looking to cash out in equity and burn this place down to do so.
Fk this place - hope it shuts down permanently.
Let’s see how many people they lay off who are on H-1B visas versus U.S. citizens.
Classic fiserv. Lay off talent that is hard to replace, thereby shooting itself in the foot.
@ff I was informed that all teams have been asked to prepare their lists, but I’m not sure how honest they are - so can’t say for sure if all or selected few
@fa primarily US but EMEA and IND as backup list
I can't confirm or deny that layoffs are coming, but I was asked for a staff listing by a VP just last week.
So what departments are impacted here? Is this across the entire compnay, or just Financial Solutions or Merchant Solutions?
Just US people or offshore too?
It is true - I’m a director - we have been asked to prepare the list by 8/31 and layoff start around middle or end of Sep. Sad state - many SVPs doing nothing and completely useless, and we have to let productive employees go to support their paychecks. Insane
We have been asked to submit list by 8/31 and the layoff is planned for 9/30 - could be earlier - sad but true - there are SVPs doing absolutely nothing and add no value and here we are providing list and looking to quit as we are short and swamped with more cuts there is no way we will be able to sustain
I've heard the same. Think it's going to start next week. Such BS. They just put on this big show in Vegas touting all the work we're doing only to come back to cut people. New leadership, yet Fiserv is still so FOS.
Hi everyone I am in upper management and I manage who gets laid off and who stays. I just wanted to let you all know - if you post on linkedin about how strong our leadership is / repost posts by senior leaders / bootlick to the extreme - you are safe from layoffs! We would never let go of someone who shows their fiserv pride on linkedin
Any chance anyone will be rebadged to Infinte if this is a big round of layoffs?
UBI actually will be the way for a lot
You shouldn't be looking for other opportunities as a backup. You should be looking at other opportunities to get a pay increase and a better employer.
Do I get discounts on Frostys? That's a better perk than sitting in a hot building in a 1980s cubicle.
Wendy's is hiring! :)
Random person on previous thread claims his entire client support team was just let go
Why is it never the middle and upper management? Their pay is unjustified.