Fiserv News and Happenings.

Get new comments by email
You can cancel email alerts at anytime.
Comments (1 to 50 of 93)
Page:   1  2  Next »   Last »

Host

What do you think -- is this company going to survive and thrive? Are they looking to expand their staff, or do you think layoffs are inevitable?

How does Fiserv stack up against the competition?

Reply - Report abuse

Anonymous in Denver in Denver, Colorado

90 months ago

I am a previous employee of Fiserv ISS. I would like to give an opinion about this corporation, but that may cause me to be subject to a lawsuit if ever found out. I have nothing positive to write about Fiserv at this time.

Fact: In 2006, Fiserv has been laying off employees and outsourcing existing jobs to India.

Copy and paste these web addresses in your browser, if you'd like to see factual legal issues revealed about this company:

milwaukee.bizjournals.com/milwaukee/stories/2006/10/23/daily38.html
www.sec.gov/litigation/litreleases/lr19197.htm

Another fact: Dennis Donnelly was still employed by Fiserv in 2006.

- Was this comment helpful? Yes (35) / No (1) Reply - Report abuse

Dude in Austin, Texas

90 months ago

Those links totally Powned Fiserv!!! lol..

- Was this comment helpful? Yes (8) / No (3) Reply - Report abuse

Anonymous in Irving, Texas

88 months ago

Denver is absolutely correct. Corporate culture is not employee friendly and misrepresents facts to achieve an end result.

Stay far, far away from this company and its subsidiaries.

- Was this comment helpful? Yes (13) / No (2) Reply - Report abuse

N_One in Fort Worth, Texas

87 months ago

I wish I could say what I like but, like Anonymous in Denver, I wouldn't want to risk a lawsuit.

The company is focused on acquisitions and sales of acquisitions. Management is a sham. Reuters ran an article on June 18th about possible sale of Insurance and Healthcare division. Find somewhere else to work.

- Was this comment helpful? Yes (17) / No (4) Reply - Report abuse

Disgruntled in Ankeny, Iowa

87 months ago

Fiserv Portfolio Business Unit is the biggest joke of a business unit that Fiserv put it's name with. Under the disasterous direction of Jim Smith and Bob Vanderbilt, this company that is suppose to have "leading edge" technology for the Capital Markets Division, does their Due Diligence review with CONTRACTORS (when their claim to fame was their employees are NOT contractors), and they FURTHERMORE have yet to complete an assignment on time, with a satisfied customer/client. Their entire underwriting application is a homebuilt errored MS Acess Engine with more bugs than there are names for! PLEASE LISTEN TO ME WHEN I TELL YOU, 80 hours of work expected for a salaried 40 an hour per week pay! RUN RUN RUN As fast as you can away from this company!

- Was this comment helpful? Yes (15) / No (5) Reply - Report abuse

Long-Term Employee in Houston, Texas

87 months ago

I've been employed with a division of Fiserv for 12 years now.

Fiserv as a corporate entity exercises almost no control over their various business units, which were generally acquisitions. As a result, there really is no Fiserv "experience", but rather a different one at each different location.

There's been a bit more of a push for Fiserv corporate control since a new CEO came on board last year, but it all feels like "Some guy in the HQ who's been on the payroll doing nothing for XYZ years needs to justify his existence to the new boss". The changes are not substantial, focused only on delivering an ostensibly positive result that can be reported up the management chain. If you stay out of the way of these "career crusaders", you can go months without hearing about anything from the corp. office.

There's a real culture clash between the employees focused on getting things done and the management team who seem to be focused on nothing but brownnosing and turf wars. I imagine that's not particularly unique to any sizable organization.

- Was this comment helpful? Yes (14) / No (2) Reply - Report abuse

Concerned in Columbus, Ohio

87 months ago

My company just announced that it is getting bought by Fiserv. All the comments on this board are making me less than confident that this will be a change for the better. Can anyone discuss what it's like to be one of the many Fiserv conquests? Thanks.

- Was this comment helpful? Yes (15) / No (2) Reply - Report abuse

Disgruntled in Ankeny, Iowa

87 months ago

Fiserv is natorious for doing the buyouts and then getting rid of the old employees. I encourage you to do your research on the case(s) Cohan V. Fiserv, Scaffidi V. Fiserv, SEC V Fiserv, EEOC V. Fiserv, ADA (AMericans with Disabilities Act). The Human Resources are stictly there for comapy and will back stab you as much as they can to bring you down so far you will not know what hit you! PLEASE RUN FOR YOUR SANITY!

- Was this comment helpful? Yes (15) / No (2) Reply - Report abuse

Making plan B in Winder, Georgia

87 months ago

I am also part of an aquisition with Fiserv in the near future. I hear all the spin from our current business regarding staying on through the sale. From what I have read here, that might be a bit foolish.

Based on some of your experience, what has been Fiserv's past timeline on slashing aquired company employees? Do they float on the new cash for a year or so before dumping, or is it really fast at the close? And what would be the percentage chance of me surviving?

- Was this comment helpful? Yes (13) / No (4) Reply - Report abuse

Curious George in Norcross, Georgia

87 months ago

I am also part of this aquistition and am a bit worried. This has happened to me before and it took about 6 -9 months before I was actually layed off. I'm kind of weary about this acquisition. Do you really think our department which is vital to our business needs prior to the acquisition would be layed off and sent to India of China?

- Was this comment helpful? Yes (7) / No Reply - Report abuse

Concerned in Columbus, Ohio

87 months ago

They tell us that the companies don't have a lot of overlap, so it isn't like they're going to be laying off half of our people because some of theirs do the same work. I feel pretty good about that, at least. Of course, it is in the best interest of all those in the Adminisphere to keep the employees calm and working hard, so we can't *know* if what they tell us is really true. But on the other hand, we have a pretty good company, and if they trashed it in the acquisition, they'd be losing a lot of the value they paid for.

- Was this comment helpful? Yes (4) / No Reply - Report abuse

Curious George in Norcross, Georgia

87 months ago

yes but if Fiserv is notorious for outsourcing, once CheckFree is absorbed into the web, what are the chance of them sending our jobs elsewhere? Maybe after seeing how much profit they make at current salaries, compared to possible profit at outsourced salaries? after all, thats all corporate america looks at anyways. americas top CEO are evil men set on destroyin our economy for the lower and middle class..

- Was this comment helpful? Yes (7) / No (1) Reply - Report abuse

Making plan B in Winder, Georgia

87 months ago

Yes, yes nice story. Except you need to remember one thing - they keep using the term "traditionally" when speaking of aquistitions. The whole 2.0 thing is about merging and leveraging all of the subsidaries they have (and will have) into one cohesive unit.

When that happens, duplications will be taken into consideration. So there is your question - do you wait on them to decide, or do you leave before hand? And just out of curiosity do you really think admin and corp functions will survive this?

- Was this comment helpful? Yes (3) / No Reply - Report abuse

Disgusted Fiserv Employee in Powder Springs, Georgia

87 months ago

Look, you all can sit around and speculate until the cows come home. Unless you ask to see what the business performa or business plan is for the business unit you, none of you will have a clue about whats going to happen to your job!

I look at it this way, if you are currently happy with your position, then by all means STAY! See what happens. If the thought of change you fear that much, start seeking now another position outside the company! But if youre miserable and dont want to stay, remember this job is NOT a Tattoo! It is NOT permanent.

The Mortgage Industry has gone to complete POT! The people that should be worried at Fiserv are the ones who's business unit has anything to do with the Financial Mortgage Arena (the dude from Iowa).

Checkfree is an awesome thing. If you saw the trade that day it was announced, the stock went UP! Now come one, either give it a chance or move on! But please stop whining about it, because then Fiserv wins! The best way to take a company down like this is to beat them at their own game and use them the way they use you!

Godbless!

- Was this comment helpful? Yes (6) / No Reply - Report abuse

Pocket Merlin in Berlin, Germany

87 months ago

I see your disgusted. Does that mean they won?

- Was this comment helpful? Yes (1) / No Reply - Report abuse

Outsource This in Toledo, Ohio

87 months ago

Don't buy into the corporate bilge being spewed. These guys care about one thing and that's the bottom line. You really think they aren't going to cut those fat checkfree salaries or move most development to india? Pete had a good run but it's over. Fiserv aint checkfree - they're a wal-mart.

- Was this comment helpful? Yes (7) / No Reply - Report abuse

Mr. B Grey in Aptos, California

87 months ago

Buddy of mine works at Checkfree, and was at the norcross event today. Said the FISV ceo was a funny guy. But i think my friend is a goner like most of the other checkfree people. Would be funny if by the time they close all the good talent has left because they didnt want to take the risk of getting screwed. bad time of year i think too - i mean its the end of they year, how easy will it be for all the folks to find jobs when fisv chops all their heads off?

- Was this comment helpful? Yes (4) / No (2) Reply - Report abuse

concerned in Hofheim, Germany

87 months ago

I see and I read all of this information. If you, most of you are Fiserv people then could you give some specifics on why you think everyone will lose thier jobs? Is there some kind of past history that can be used as an example? I read this and say could it be just most people are unhappy with Fiserv on this board? I wish to make an educated decision on should I leave.

- Was this comment helpful? Yes (2) / No (1) Reply - Report abuse

Outsource This in Toledo, Ohio

87 months ago

Not everyone will lose their jobs. what matters is the likelihood of YOU losing your job. Why did pete sell you out? don't you think fisv is looking at checkfree's costs? they've got thousands of minions in India who can do your job for a lot less.

Jeff is a funny guy, so he "cares", right? these guys are pros when it comes to duping the masses into thinking "i'll be ok".

- Was this comment helpful? Yes (5) / No Reply - Report abuse

Bought the t-shirt... in Columbus, Ohio

87 months ago

Disgusted Fiserv Employee in Powder Springs, Georgia said: Look, you all can sit around and speculate until the cows come home. Unless you ask to see what the business performa or business plan is for the business unit you, none of you will have a clue about whats going to happen to your job!

I look at it this way, if you are currently happy with your position, then by all means STAY! See what happens. If the thought of change you fear that much, start seeking now another position outside the company! But if youre miserable and dont want to stay, remember this job is NOT a Tattoo! It is NOT permanent.

The Mortgage Industry has gone to complete POT! The people that should be worried at Fiserv are the ones who's business unit has anything to do with the Financial Mortgage Arena (the dude from Iowa).

Checkfree is an awesome thing. If you saw the trade that day it was announced, the stock went UP! Now come one, either give it a chance or move on! But please stop whining about it, because then Fiserv wins! The best way to take a company down like this is to beat them at their own game and use them the way they use you!

Godbless!

Well said... sorta.

I think you're a little too short sighted on how the stock prices compare. The buyer's stock always goes down and the buyee's stock always goes up on these types of things. Been there done that, at least 4 times in the past 10 years of my own career history.

You are correct. Your job is not a tattoo. You can change it if you're unhappy.

- Was this comment helpful? Yes (3) / No Reply - Report abuse

Concerned in Columbus, Ohio

86 months ago

Know what I'm wondering about? Where is Fiserv going to come up with the cash to complete the deal? I wonder if they already have a financing deal locked up, or if they're going to try to put something together later. Because there isn't a whole lot of money available right now due to the credit crunch. How much is Fiserv going to have to pay to get the cash they need to complete the buyout? It isn't just consumers looking for a mortgage that are going to find it hard to get loans...

It's going to be interesting, for sure.

- Was this comment helpful? Yes (2) / No Reply - Report abuse

Go Bucks in Dublin, Ohio

86 months ago

Per the 8-K....

"To finance the transaction, Fiserv has obtained a commitment for bridge financing of up to $5 billion, which is exercisable at Fiserv's option, and anticipates raising long-term financing prior to the Closing. The transaction is expected to close following the satisfaction of all closing conditions, which is currently expected to occur by the end of the fourth calendar quarter of 2007."

They are pursuing the needed financing and have a contingency plan (bridge loan) should they need to exercise it. Looks pretty standard.

- Was this comment helpful? Yes (6) / No Reply - Report abuse

Penni in Erfurt, Germany

86 months ago

I'll tell you why Pete sold you out. He got bored and wanted to focus on his wine business. Gee, guess your not as important as a cheap blended wine.

I think FISV will keep a lot of the products and support staff for probably a year or two. Then start phasing them out. If your part of corporate or an executive with any responsiblites that aren't product related I would expect you to be gone soon after the aquisition.

I'm not sure you should believe any of the messages being spread around about one big happy family. Remember the savings start at 100m but are supposed to be much higher.

And if your already part of FISV - don't think your safe, I think all companies under FISV are going to be wrung dry in the next few years.

How you want them hash browns honey? Cause we are all going to be on the street soon.

- Was this comment helpful? Yes (2) / No Reply - Report abuse

what and where in Prague, Czech Republic

86 months ago

wow, lots of speculation here. i dont knwo what exactly will happen to everyone who works here. i think if yor hoping the deal will fall thru your probably just wasting yur time. its a done deal. im involved at product level do yuo tink they will keep any product marketing people? i think teh spuort people, but i worry i will be let go.

- Was this comment helpful? Yes (2) / No (1) Reply - Report abuse

Former Fiserv Employee

86 months ago

I used to work at the location of this posting and with the person who used to have this job - who, coincidentally is retiring VERY SOON. The team is great. Most of the folks there have been there a while. It was a great place to work and I am sorry I ever left!

- Was this comment helpful? Yes (6) / No (10) Reply - Report abuse

so-so in Jonesboro, Georgia

85 months ago

I agree with most in this forum. I'm part of checkfree and recently employeed. I don't think my department will be hit first, maybe 2 or 3 years. I did read somewhere that Fiserv does have a tendency to 'merge' their new companies they've acquired...however I think this was under the old CEO and not the new one. I would like to hear from current Fiserv employees of how this new CEO been communicating company goals, etc to you guys. This could be an indication of how the merger with CheckFree will go.

I've heard great things about Fiserv and personally, if they have their 'infrastructure' together, policies and procedures together, I'm all for it...but then again, I'm still relatively new

- Was this comment helpful? Yes (1) / No Reply - Report abuse

Anon E Mouse in Pittsburgh, Pennsylvania

85 months ago

I worked at a company bought out by Fiserv a few years ago. They said that there would be no changes, everything would stay the same. Not long after, the cost of our health insurance benefits went up considerably. They did away with the Christmas bonus. They did away with the Christmas gifts. Raised the cost of insurance again. Closed two of our offices so far. They have been laying off left and right, Upper management, IT, as well as operations people. There is a lot of favoritism as far as promotions and raises go. If Fiserv comes your way, turn and run in the opposite direction.

- Was this comment helpful? Yes (7) / No (1) Reply - Report abuse

Anon E Mouse in Pittsburgh, Pennsylvania

85 months ago

Adding on to the above -- almost all work has been outsourced to India. Nah... nothing will change!

- Was this comment helpful? Yes (6) / No Reply - Report abuse

Cake is Great in Anonymous Proxy

85 months ago

I see the vote is set for the end of October. I bet this deal closes first of Nov. so they can clean house before the first of the year. Happy Holidays folks!

Some insight from I guess it would need to be former FISV people would be great on what to expect day 1 and within the first 12 months. Which functions went first? How long did the rest of the transition-out of people go? Were the packages good?

I'm highly suspect of a message of "business as ususal" coming from any exec. in either organization. Normally that lasts until you get your pink one morning.

- Was this comment helpful? Yes (4) / No Reply - Report abuse

Lady D in Buffalo, New York

85 months ago

Has anyone worked for Fiserve/RSA in Buffalo,NY, if so what are your overall thoughts?

- Was this comment helpful? Yes (8) / No Reply - Report abuse

noobiedoo2 in cedar rapids, Iowa

81 months ago

Anon E Mouse in Pittsburgh, Pennsylvania said: I worked at a company bought out by Fiserv a few years ago. They said that there would be no changes, everything would stay the same. Not long after, the cost of our health insurance benefits went up considerably. They did away with the Christmas bonus. They did away with the Christmas gifts. Raised the cost of insurance again. Closed two of our offices so far. They have been laying off left and right, Upper management, IT, as well as operations people. There is a lot of favoritism as far as promotions and raises go. If Fiserv comes your way, turn and run in the opposite direction.

I agree with you, the company my husband works for was aquired by fiserv a few years ago, and we saw the exact same things! Our health insurance now costs us about $500 per month and the coverage is poor, we pay out of pocket for much more than we used to. The bonuses, raises, and xmas gifts have also decreased by more every year, however, the office still attempts to keep employee morale up by having company sponsored outings like baseball games where employees can leave the office during the workday and hang out at the ballpark together, and it is common for groups of 10 or more employees to have a group lunch together at different local restaurants. So the local managment seems to be attempting to improve the negative effects of the aquisition at least, but in the overall scheme it has certainly not been a positive experience.

- Was this comment helpful? Yes (5) / No Reply - Report abuse

baadaabee in Hicksville, Maryland

80 months ago

great company. just announced 40% of former checkfree jobs to be sent to india. told you pk sold you out.

- Was this comment helpful? Yes (9) / No Reply - Report abuse

karen11 in Atlanta, Georgia

80 months ago

fiserv just announced(feb 08) that all IT work of checkfree(the company fiserv acquired in dec 07) are outsourced to india. with this change they are laying off 40% employees in IT. all checkfree IT folks are asked to transfer knowledge to the folks from india who will sit side by side with them. this happens in the next 30 days after which they will layoff the employees. isn't there any legal option to prevent this cruelty? to force the ones being laid off to teach the folks from india who take their own jobs? how cruel can anyone be?

- Was this comment helpful? Yes (9) / No Reply - Report abuse

baadaabee in Hicksville, Maryland

80 months ago

there is no legal option other than refuse to be a traitor to your country and leave. this is all legal and endorsed by us government. if you take the money then you are helping destroy american families. why would anyone want to work for such a despicable company?

- Was this comment helpful? Yes (6) / No Reply - Report abuse

cookiecrumbles in Duluth, Georgia

80 months ago

I'm in the checkfree boat that is sailing for india. The atlanta market is pretty good right now, but if/when the recession Really hits, it's going to be bad, post-dot-bomb bad. If retention bonuses aren't going to happen, then now is a good time to jump ship. It may take a few months to find something else, which is enough time to see if retention bonuses will make it worth staying.

- Was this comment helpful? Yes / No Reply - Report abuse

Shazam in Tsing Lung Tau, Hong Kong

80 months ago

When was this announced? Friday? I figured with only 1% of the staff reduced in the first round that it was sure to be big later but I hadnt heard about this reduction.

Question for former FISV people, what are the severance packages like for someone with 5+ years tenure between the two companies?

- Was this comment helpful? Yes / No Reply - Report abuse

karen11 in Atlanta, Georgia

80 months ago

yes... friday...in the last layoff(450 affected), the severance was 1 week/year which itself is not worth staying... on friday they made it very clear of no retention bonuses and also they will not accept anyone voluntarily taking the severance and leaving... you will have to wait for 30 days to know, if you make the list... i guess they want the maximum people to leave on their own and want to avoid loosing as much money as possible even though it is peanut severance... but the real question is, do you really want to stay for the humiliation?

- Was this comment helpful? Yes (5) / No Reply - Report abuse

George in Anonymous Proxy

80 months ago

Wait, hold the press. So your saying someone with around seven flipping years with CKFR is looking at 7 weeks of severance? Tell me your kidding about that. Were these positions customer support type jobs, systems or infrastructure?

And I do think they want to attrit out as many of us as possible with no packages.

- Was this comment helpful? Yes (1) / No Reply - Report abuse

baadaabee in Hicksville, Maryland

80 months ago

depends on your position. could be one or two weeks per month. kight couldn't have picked a worse company to sell to. wonder if they will outsource big steves job LOL.

- Was this comment helpful? Yes / No Reply - Report abuse

George in Lübeck, Germany

80 months ago

Stevie O has gotta go! LOL. Yeah, PK sold us up the river, whats new .. Ive been here a long time and I hope I dont get stiffed by this 2.0 stuff. One thing that CKFR did right was treat you with some respect when they let you go and offer decent packages. Sounds like FISV just wants you to go.

You got any insight on what the NEXT shoe to drop will be after they slice and dice IT into many bite size pieces?

- Was this comment helpful? Yes (3) / No Reply - Report abuse

cookiecrumbles in Duluth, Georgia

80 months ago

I heard that retention is something they are still fighting for.
And do I want to stay for the humiliation?
I don't see any shame or humiliation involved in training someone else for my job and then getting layed off. I see it as a temporary job instead of a perm job. Besides, I prefer an income to no income. Like I said, I'm going to look around for a job and see if retention comes through.

And I don't blame steve o for this, he didn't have a choice. And I respect checkfree execs for choosing to be completely honest and up front with us -- I know for a fact that they did it because they care about the employees, and not to cause attrition. If they only cared about Their jobs, they would have lied to us and strung us along throughout the process. It wasn't a good business decision, and they may regret it, but maybe they'll sleep better at night.

- Was this comment helpful? Yes (1) / No Reply - Report abuse

cookiecrumbles in Duluth, Georgia

80 months ago

LOL, from my last post, you can tell that I was a contractor for 10 years.

- Was this comment helpful? Yes / No (1) Reply - Report abuse

Glenn Siddall in Denver, Colorado

80 months ago

Shazam in Tsing Lung Tau, Hong Kong said: When was this announced? Friday? I figured with only 1% of the staff reduced in the first round that it was sure to be big later but I hadnt heard about this reduction.

Question for former FISV people, what are the severance packages like for someone with 5+ years tenure between the two companies?

1 week for each year completed.

- Was this comment helpful? Yes (1) / No Reply - Report abuse

P Rob in South Bend, Indiana

80 months ago

I was part of 54 laid off from a mortgage unit in Indiana. My department went to India. I got 2 weeks per year.

- Was this comment helpful? Yes (6) / No Reply - Report abuse

Anonymous Northwest in Lacey, Washington

80 months ago

heard some checkfree employees got calls from a outplacement service but their office never told them they were being laid off - is it true?

- Was this comment helpful? Yes (1) / No Reply - Report abuse

Nunya Biddness in Columbus, Ohio

80 months ago

Hate to burst the ckfr bubble but this has been coming for a long time. There's a guy in the Dublin office who's been making regular trips to India trying to offshore work for years! This was pre-fiserv. The timing is interesting but ckfr wasn't all about looking out for their people and the all-mighty place to work before Fiserv bought them.

Sorry - I spent way too many weekends and evenings on calls fixing crap to believe this garbage about them "looking out for their employees".

I can't count the times that I'd leave the office, dial into a call from the road, drive 45 minutes home on a bridge call and walk in the door hold up my finger to my wife like she actually believed it'd be "just a minute" and work several more hours.

Try spinning another yarn because I ain't buying the line about ckfr looking out for their people one bit!

I don't know about Fiserv but what I know about ckfr sound like they were a match made in heaven!

OB

- Was this comment helpful? Yes (2) / No Reply - Report abuse

believe da lies in Columbus, Ohio

80 months ago

AMEN OB !! I worked for CheckFree for too long ... more years of my life spent on bridge calls fixing "Sev 1" issues with clueless management spinning their wheels and blabbing while the folks who knew what was really going on had to listen to their droaning and groaning. The sky is falling attitude around that place is just enough to make you pass out from headspinning dizziness.

Why is it when I talk to the many, and I mean many folks who have escaped that company are 1) way better off financially and professionally, 2) much happier in work and in general, and 3) unable to believe that they put up with that crap for so many years?

Wake up folks that are still there. You all have been bracing for the every year and half layoff that comes and goes there on a regular basis. Management saying things like "we need to get rid of the bad folks" and "this won't increase your workload". The job market is too good in Columbus, Ohio. You don't need to hold out for the "severance" and work with an 7.0 Sigma rated HR department that can't even mail W2's for ex-employees on time.

- Was this comment helpful? Yes (5) / No (1) Reply - Report abuse

Concerned in Columbus in Columbus, Ohio

80 months ago

motorcycle, you are absolutely right about HR. I had a friend with more 'business-savvy' than I had explain this to me a few years back. HR is not there to act as the representative of the employee. HR exists to prevent the employees from suing the company.

Oh, and by the way... Thanks, Pete.

- Was this comment helpful? Yes (2) / No (1) Reply - Report abuse

working for money hungry pigs in Norcross, Georgia

80 months ago

I think all distributed jobs can say bye-bye now. Mainframe may be their next step. I feel pissed off working for long hours week after week for these money hungry pigs who do not even care about the welfare of their own countrymen. All these pricks want is make more money doing any crime.

- Was this comment helpful? Yes (5) / No Reply - Report abuse

Page:   1  2  Next »   Last »

» Sign in or create an account to comment on this topic.