First Data - KKR's "Window Dressing Exercise" no Solution to Revenue Problems | Glassdoor
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"KKR's "Window Dressing Exercise" no Solution to Revenue Problems"

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  • Work/Life Balance
  • Culture & Values
  • Career Opportunities
  • Comp & Benefits
  • Senior Management
Former Employee - Director
Former Employee - Director
Doesn't Recommend
Negative Outlook
Disapproves of CEO

I worked at First Data full-time (More than 5 years)

Pros

Great people and talent. Good legacy products.

Cons

No loyalty to those that have invested many years of service and/or have contributed in a major way to First Data's bottom line. No path for professional development. Losing lots of good people and talent for the sake of short-term bottom-line impact. Lack of innovation to keep pace with market changes in payments arena. Near-term cost cutting will continue and employee moral is on a steep decline.

Advice to Management

KKR is acting in a very predictable manner with its largest investment asset. KKR's patience is in the rear view mirror, seeking to IPO First Data in the near term. Unfortunately, KKR has lost sight of the importance of innovation due to it's "financial blinders". My advice to KKR - you better pay attention to who is biting at your heals rather than manually bailing the water out of a sinking titanic. The sad truth to the Private Equity game that is currently being played out with First Data is that KKR's efforts to position First Data for an IPO by eliminating vast amounts of IP (ie.."well Mr Investor, the bottom line looks fine to me) neglects to consider one of the most important ingredients, the run rate of net new revenue. If KKR spent half the time it spent laying off good talent on understanding how they could generate net new revenue, then things might be different for their investment horizon. Being a large player in the payments space is a huge competitive disadvantage and KKR is desperately trying to hang on to the back (where's the innovation?) of a fast moving train on the payments railway. At the moment, KKR is simply throwing heavy luggage out the back of the C130 cargo ship in hopes that the improved fuel economy with make it fly further...the problem with this strategy is the fact that the engines haven't been serviced in way too long and there are only two solutions to the problem a) a mid-flight surgery (ie fire sale), or b) and unpleasant crash landing far short of the landing strip (need i explain?). Hate to say it....yet the debt load/investment needs to be heavier on the innovation front and rev run rate needs to have a pulse before the public will "buy-in" to an IPO. Perhaps a lesson in AGILITY is in order. Bringing on Jon Judge was the best thing that happened to First Data in the past several years as he really did care about the things that matter most....only to leave First Data at the hands of those whose priorities are elsewhere. At the end of the day, this is a classic case of KKR biting off more than it could chew...which will most likely result in some serious heartburn, not just for those getting riffed, but for those whose pocketbooks will be adversely impacted. Perhaps a new acronym is in order...along the lines of Keep Kleenex Ready!

Other Employee Reviews for First Data

  1. "Days drag on."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - POS Help Desk in Omaha, NE
    Current Employee - POS Help Desk in Omaha, NE
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I have been working at First Data full-time (More than a year)

    Pros

    Benefits. Management(most). Good amount of PTO. Very casual dress, some people will wear sweat pants.

    Cons

    The pay. Constant changing of policies. High turn-over rate. On phones all day. Scheduled breaks.


  2. "Overall, my 2 year tenure at First Data was very good; however, the last year was extremely disorganized."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Vice President in Atlanta, GA
    Former Employee - Vice President in Atlanta, GA
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I worked at First Data full-time (More than 3 years)

    Pros

    One of the less "political" organizations I have been a part of.

    Cons

    Just disorganized and some very, very poor decisions made at the senior most levels regarding overall structure.

    Advice to Management

    Get organized from an organizational perspective and set stable goals other than just going public. Employees are generally confused and don't know how to drive the organization to be the best it can be.

There are newer employer reviews for First Data
There are newer employer reviews for First Data

See Most Recent

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