RTO
Rentokil Initial plc
stock NYSE ADR

So I was looking for anyone talking about the stock drop on Reddit and came across this. Not OP, but I’ll answer the question, albeit after the poor earnings came in.
They were one of the early RTO folks. While you can get away with that in places that pay ridiculously high salaries, Fiserv doesn’t pay nearly well enough to be that Draconian. It drove a lot of essential talent away. People that knew what kept everything running left or were replaced by cheap outsourcing have caused large problems in keeping things running smoothly.
This has lead to customers being very, very angry. Once you get a large company on your system, it’s a pain for them to leave. So, they have to be furious to go through the expense and time to do so. It’s been happening a lot. For a while, it ironically was making the stock look better. They were getting a lot of early termination fees to prop up the revenues of certain sectors. For some reason, even though this was all right there in the financials, Wall Street ignored it and kept the stock hitting new highs. Meanwhile, all of us in the office knew this was going to eventually turn.
Fiserv merged with First Data, which had a terrible customer rep. The folks from FD took over and eventually destroyed Fiserv’s rep. The people in place now are trying to fix what was broken, but I don’t think they have what it takes to pull that off, especially since all of the people that built the systems are gone, now.

So I was looking for anyone talking about the stock drop on Reddit and came across this. Not OP, but I’ll answer the question, albeit after the poor earnings came in.
They were one of the early RTO folks. While you can get away with that in places that pay ridiculously high salaries, Fiserv doesn’t pay nearly well enough to be that Draconian. It drove a lot of essential talent away. People that knew what kept everything running left or were replaced by cheap outsourcing have caused large problems in keeping things running smoothly.
This has lead to customers being very, very angry. Once you get a large company on your system, it’s a pain for them to leave. So, they have to be furious to go through the expense and time to do so. It’s been happening a lot. For a while, it ironically was making the stock look better. They were getting a lot of early termination fees to prop up the revenues of certain sectors. For some reason, even though this was all right there in the financials, Wall Street ignored it and kept the stock hitting new highs. Meanwhile, all of us in the office knew this was going to eventually turn.
Fiserv merged with First Data, which had a terrible customer rep. The folks from FD took over and eventually destroyed Fiserv’s rep. The people in place now are trying to fix what was broken, but I don’t think they have what it takes to pull that off, especially since all of the people that built the systems are gone, now.