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Frank Bisignano is another one of Trump’s rich cronies with no government experience who has made a career off of firing workers while collecting big paychecks. Bisignano first made headlines in 2018, when he earned over 2,000 times more than the median employee at his company First Data. More recently, Bisignano has spent the past two years firing thousands of workers at Fiserv where he serves as CEO. Despite these layoffs, Bisignano still collected a nearly $28 million pay package in 2023. To top it all off, Bisignano’s company employs 41% of its workforce outside the U.S. in true America First fashion. If Frank Bisignano can’t even take care of his own employees, how can he be expected to manage the well-deserved benefits for our senior citizens? |
2018: Frank Bisignano Earned 2,028 Times More Than The Median Employee At First Data. According to CNBC, "Mr. Bisignano was the second-highest paid chief executive in the country this year, and one of only two on the Equilar list to earn more than $100 million. Mr. Bisignano is routinely granted humongous pay packages by his board of directors. He was awarded $51.6 million in 2015. The median salary at First Data , which processes credit-card transactions, was $50,406, resulting in one of the highest pay ratios — 2,028 — on the Equilar list." [CNBC, 5/25/18]
December 2024: Fiserv Laid Off An Estimated 1,000 - 1,500 Employees. According to Payments Dive, "Fiserv confirmed on Thursday that it had recently reduced its employee headcount, although it provided few details. A Wolfe Research analyst estimated in a Wednesday note to clients that the company laid off between 1,000 and 1,500 employees, or between 2.4% and 3.7% of the workforce." [Payments Dive, 12/5/24]
2022: Fiserv Laid Off 3,000 Employees. According to Payments Dive, "Fiserv’s global headcount dropped about 7% last year as the company cut 3,000 employees, on a net basis, and shed business units as it strived to bolster profitability. The payments and financial technology company had about 41,000 employees worldwide as of the end of last year, according to its annual report filed last week with the Securities and Exchange Commission. That’s down from 44,000 at the end of the 2021. Fiserv tallied $187 million in employee termination costs tied to severance and related expenses in 2022, it said in the Feb. 23 annual filing. That figure nearly doubled compared to 2021, when it reported $95 million in such expense. " [Payments Dive, 3/1/23]
2023: Frank Bisignano Made Almost $28 Million. According to Milwaukee Business News, "His total compensation in 2023 was nearly $28 million, according to securities filings. He is the highest paid CEO of the public companies based in southeastern Wisconsin." [Milwaukee Business News, 12/4/24]
2021: Fiserv Employed 41% Of Its Workforce Outside Of The United States. According to Payments Dive, "In last year’s filing, the company said about 18,000 of its employees were based outside the U.S. For 2020, that figure was 17,000, and in 2019, it was 16,000." [Payments Dive, 3/1/23]
Frank Bisignano Has No Previous Government Experience.
According to MarketWatch, "Critics argue the nomination could change the fabric of the Social Security Administration. Bisignano doesn’t have a background in Social Security or government work, noted Nancy Altman, president of the advocacy group Social Security Works. 'That is very concerning. This is a very complicated program — a really important program. It is not a patronage job,' she said. 'To put someone in there with zero background is really irresponsible.' Before Trump, the Social Security Administration was always run by someone with a government background, Altman said. 'And it has never missed a paycheck,' she said. 'Benefits were always paid in full and on time.' " [MarketWatch, 12/7/24
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