Jana Urges Fiserv to Double Cost Cuts
Activist investor Jana Partners is pushing Fiserv to more than double its planned cost cuts and utilize Palantir software to accelerate its technology transformation. The hedge fund aims to revive Fiserv following a sharp decline in its share price over the past year.
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Activist investor Jana Partners is urging FISERV INC to more than double its planned cost cuts to $1.25B and adopt software from PALANTIR TECHNOLOGIES INC-A to accelerate its technology transformation. The push comes as the payments company trades near its lowest level since February 2016 after losing more than half of its market value over 12 months. Jana aims to reverse sagging shares following CEO Takis Georgakopoulos's recent appointment and ongoing business review.
