{
  "id": 10648445,
  "title": "Jana presses Fiserv for bigger cost cuts and Palantir tech overhaul",
  "url": "https://urgent.news/2026/09/29/jana-presses-fiserv-for-bigger-cost-cuts-and-palantir-tech-overhaul",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-29T08:23:00.000Z",
  "source": {
    "name": "Hedgeweek",
    "slug": "hedgeweek",
    "url": "https://hedgeweek.com/news/jana-presses-fiserv-for-bigger-cost-cuts-and-palantir-tech-overhaul"
  },
  "original_language": "en",
  "account": "Activist hedge fund Jana Partners has urged Fiserv to significantly increase its planned cost savings and implement technology from Palantir Technologies to accelerate the payments company's transformation, according to a Reuters report. Jana, which has owned a stake in Fiserv since late 2025, outlined its demands in a letter to the company as the payments group struggles with a decline in its share price. The activist investor is pushing Fiserv to raise its cost-saving target under Project Elevate from $500m by 2029 to $1.25bn and announce the higher target alongside its third-quarter results. Fiserv's shares have plummeted more than half in value over the past year, hitting their lowest closing price since February 2016 on September 23. The hedge fund argues that Fiserv needs to expedite restructuring and strategic changes, calling for a comprehensive business review instead of individual asset sales. Fiserv CEO Takis Georgakopoulos, who assumed the role in June, stated that the company is reviewing its businesses and may pursue further divestments. The hedge fund's latest proposal emphasizes both cost reduction and technology overhauls. Jana believes Fiserv could leverage Palantir's software to streamline its technology infrastructure, minimize technology debt, and decrease spending on legacy technology vendors. Fiserv, valued at around $25bn, has faced criticism from Jana for repeated forecasting errors and reductions in financial guidance. The hedge fund contends that the company should set more ambitious savings targets rather than settling for achievable goals that offer minimal earnings improvement. This proposal aligns with Jana's interest in employing Palantir's technology at other companies it has taken activist stances on, such as Mercury Systems, a defense technology firm, and Fiserv rival Fidelity National Information Services, where Jana's portfolio manager and director Scott Ostfeld successfully advocated for a Worldpay spin-off in 2024.",
  "summary": "Activist hedge fund Jana Partners is calling on Fiserv to more than double its planned cost savings and adopt technology from Palantir Technologies as it seeks to accelerate the payments company's transformation, according to a report by Reuters. Jana, which has held a stake in Fiserv since late 2025, outlined its demands in a letter to the company as the payments group continues to contend with…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}