How’s your portfolio in Defensive Pas?
Topics regarding layoffs at Fidelity Investments
Heard a long-time co-worker mention they cut to the bone back in 2008-2009 when the recession hit. Expecting a similar knee-jerk reaction due to the paranoia going on now.
From previous article: “The median estimated compensation for Fidelity executives including base salary and bonus is $235,987 annually. Highly compensated executives make $652,000, according to the site.”
It could be that you can provide minimum viable product for cheap and they will shed you like dead skin as soon as you cross the line on the pay scale they designed. Suddenly (overnight) the world you were praised for, given recent bonuses and... — read more
https://riabiz.com/a/2020/1/13/headhunters-rejoice-after-fidelity-axes-invincible-but-expensive-executive-bonus-program-to-more-narrowly-focus-rewards-on-productivity-and-execution Looks like SVP + only for now. I know a a few SVP's who recently... — read more
I recall when Fidelity was a typical New England stodgy conservative workplace. I came from the west coast high tech industry and found Fidelity workplace stifling. Now that Abby has taken over from her stodgy dad, she is trying to rebrand the... — read more
Great cover article on ageism in the workplace in AARP Bulletin mag this month. Ageism in the workplace is widespread and it’s very difficult to fight and prove. Some states have better laws than others for protecting older workers. It’s worth a read... — read more
After 11 years of mistreatment as a worker I've got fed up and I will be moving my assets out of Fidelity. I have a complicated personal situation that prevents me from quitting and moving on, but as a customer I am done. I'll be suggesting this move... — read more
If you are not an exempt employee, what is your favorite technique of begging for time off at Fidelity?
Why is Fidelity letting go of our top talent without even attempting to keep them? And I'm not referring to layoffs, but those who are quitting to join our competitors and are finding zero resistance from Fidelity. Nobody is trying to keep them by... — read more
When’s the class action going down with this? It’s clear as day that Fidelity made these mass terminations knowing that revenue declines were on the horizon. I’m sure that Fidelity made assumptions that they can not prove to terminate so many... — read more
Does anyone know when salaried employees will have their bonus paid out? I’ve heard rumors of both the 6th and the 13th of December.
As somebody said in another thread, too many people at Fidelity who are complaining about layoffs are those who have not even tried to keep up with the changing times and now their pay does not match their skill set. If your skills do not match... — read more
I heard there will be big layoffs in 2020.
Sorry to say it.
I’m a current employee at Fidelity and trying to get a family member and also a good friend to apply to Fidelity... They would be a perfect match for the company and they don’t want to because of the ugly perception of how Fidelity has mistreated... — read more
Our costs are down, but prices are down too... A typical ETF charges 0.1% a year, compared with perhaps 1% for an active fund. You can buy ETFs on your phone. An ongoing price war means the cost of trading has collapsed, and markets are... — read more
A lot of these offshoring firms on US Soil are hiring those seasoned & older employees. In terms of Fidelity, there are a lot of folks that had been let go over the past few years and those that participated in the VBO are now working for a lot of... — read more
Let's hear some stories of the firm handling this... Overreactions? Only certain people getting in trouble.
For several years Fidelity has been pushing the job mobility thing. Being a white male in my 50s, I was resisting it for a long time because I didn't want to end up the new, inexperienced, guy on a team and be easy pickin's to lay off. But, in the... — read more
I bet Ned is not so happy with his daughter right... — read more
IBM laying off older workers to make room for mellenials: https://insights.dice.com/2019/08/02/ibm-layoffs-ageism-age-discrimination/?CMPID=EMREUPJSADDACPA&utmcampaign=AdvisoryDiceAdvisorA&utmsource=Responsys&utm_medium=Email
Heard new layoffs in WI now they have gone full agile. 200 plus over the last two weeks or so. Multiple locations.
(This was a reply to a different post. May work here too.) There will be reductions. So, be smart about it. Not angry. Fidelity is run by a very few, very protected people. Just look around. It’s easier to dump thousands of calls on reps instead of... — read more
My previous comment got deleted....strange.. Anyways my lawyer got me off with a warning from this Fidelity $hit, no mark on U5 or CRD. Neda literally saved my career. Ain't cheap but you get what you pay for
The only guarantee is there will be reductions...(This is Fidelity we are talking about!) Whether it’s wrapped in a silver VBO wrapper, or poorly disguised as a ham handed “re-org / eliminations (by conference call) with ‘new jobs’ for which everyone... — read more
Will provide more details later on
People layed off in Covington and across FBT. I heard there is another layoff for operations and other departments.
I replied on my own to FINRA 8210 letter and I was sure it was a thorough and accurate response. Last week I got another 8210 letter. Did anyone else experience this?
Possible or not? Thoughts?
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
Anyone know if these guys d--g test for internal hires?