Anyone hear about this ? Fidelity calls the charge an “infrastructure fee.” The fee reportedly amounts to 0.15 percent of not only Fidelity customer assets, but also of the mutual-fund company’s industry-wide assets. It was implemented in 2016... read more
Topics regarding layoffs at Fidelity Investments
Anyone know if these guys d--g test for internal hires?
Anyone has that WSJ article on the drama? I am getting prompted for a password... read more
Has anyone heard rumors of another buyout in 2019 for 50+ folks?
Any news on layoffs? There were mentions of another round in February but then all talk of it died down. I'm hoping that means the rumor was debunked as false, but it would be nice to know for sure. I know we'll be seeing more layoffs in 2019, but... read more
Worst week since 2008, which was the last time there were deep layoffs at the company. PAS / mutual fund revenue just took a 20% haircut in the last few months. Money markets are the new cash cow, but is it enough to keep the ax from coming down?
Anyone Remebers 1987?
What do you think about it? I’m referring mainly to local managers bringing in their kids, taking better jobs away.
So here I am, it was a good run, Boston times were fun, very fun and I was not s-xist and discriminatory, but I guess I will need to pay the price for my forefathers. You really have to wonder what you get for being a good, clean and honest person at... read more
For all of you who complain about Abby and her greed ... what do you think of the 20% bonus most associates will receive next week in addition to the 10% Profit Sharing we receive in January ? I don't that that is greed at all.
Ran across this interview online and I found it to be a good read. The CEO and the chief of the Personal Investment Unit discuss the current situation at the company and the plans for the future. For those who are interested in this, the interview is... read more
Hmm Abby, don’t have enough money or is something else up?
Just starting a thread
As it was announced earlier, and in accordance with the company’s efforts to move into the cryptocurrency market, Fidelity is set to launch their custody service for cryptocurrencies and at this point will not establish their own exchange. Think that... read more
Huge chunk of roles in pi l&d got eliminated today. They have until the end of the year.
Only seen on FB, but site strategy is being blamed.
This is not layoff related, but here it goes anyway. Abigail Johnson stated that Fidelity will start launching cryptocurrency based products by the end of the year. We’ll see how this one pans out, as her statement wasn’t too detailed, but I sure... read more
IBM Faces New Age Discrimination Lawsuit, Alleging Unfair Layoffs... read more
Friend of mine heard from secretary today, that new VBO will be offered in October, for those 55+.
https://www.cnbc.com/amp/2018/09/04/fidelity-offers-first-ever-free-index-funds-and-1-billion-follows.html Call me skeptical. Given what’s going on in our country, I no longer believe everything I read. So many of these large corporations are playing... read more
For years they have employees working hours daily without pay, because the company is so cheap (tight). Hourly employees with families. They want to give away the kitchen sink to clients at the expense of their employees. Then when an employee messes... read more
They are forcing out army of qualified technology people, to supposedly cut expenses, yet they are keeping tons of “dead wood” around in areas that contribute nothing to the bottom line. Technology jobs are going to the foreigners with H1 visas, or... read more
I was let go late last year, however there were no investigators. I was placed on leave by my manager and told I was part of an internal investigation and would be contacted by HR shortly. My manager called me several days later and stated “the firm... read more
I've heard through 4 different sources that more layoffs are coming later this year. I am not certain if there will be a package attached or what sectors will be targeted. I do believe that the technology sector will be among the targeted groups... read more
Not sure how this will affect the reimbursement investigation.... http://www.investmentnews.com/article/20180726/FREE/180729934/finra-consolidates-enforcement-program-in-hopes-of-delivering
Once again evidence that anything said in an interview with internal investigators can be used against you, but will never be used to clear your name or save your job. The investigators, oftentimes acting in a "good cop bad cop" pair, pretend that... read more
I am 52 and was laid off as of September 1, 2017. I was told I was able to be rehired if I applied for another position. I recently applied for a position and was turned down. I did almost 11 years on the phone. I was told that an internal employee... read more
This company has gone insane. I've heard that there has been a recent uptick in people voluntarily leaving the firm. Not over these reimbursements, but due to a drastic shift in the overall corporate culture. I've been out of Fidelity for a while... read more
Was RIF'd today. Completely unexpected (didn't even occur to me today was the second Tuesday of the month). I'm not upset. But this company really needs to figure out what it's doing, what it is, and what it wants to be. If you want to be a tech... read more
Anyone hearing any whispers?
So many legitimate concerns have been raised but all that’s been printed was essentially a Fidelity press release. This is coming from an active employee who’s extremely happy working at Fidelity. I want the company to be very successful. Although, I... read more
Received a nice letter from Fidelity today requesting that I pay back the “overpayment.” So for me and many others (those who exchanged a computer several years ago with no ill intent), this is what we get: -Fired without warning and for a BS reason... read more
does anyone got any resolutions from FINRA 8210 for December 2017 terminations?
I am neither licensed nor registered FINRA member. I got FINRA 8210 letter. Anyone else in same situation? What actions you planning on taking?
The cost cutting is significant at Fidelity. We used to have catered meals for reward luncheons. Now it’s bring your own sandwich. Up to about year ago they had campaigns which were sales bonuses and were quarterly paced. Payed out as points that... read more