OMAHA, Neb. (KMTV) — One business expert says Fiserv's $22 billion all-stock deal acquiring First Data could have repercussions for the Omaha labor market.
John Boyd is a business consulting expert for the Boyd Company, which helps businesses navigate the always changing business climate. When it comes to this financial tech deal, Boyd's focus is on automation.
"Roughly 5,000 First Data workers are working out of Omaha," Boyd said. "We expect this merger to add fuel to fire in automation."
Labor intensive jobs that some carry out at First Data are likely to be replaced by computers one day. Boyd says this phenomenon is shaping up to be a major trend in the banking and financial tech industry.
"It's becoming automated, especially the types of jobs like payment processing and data entry at companies like First Data, PayPal, TD Ameritrade and ACI Worldwide," Boyd said. "I think the message for lawmakers is to retrain workers for other types of industries."