Any ideas on which departments may be affected by layoffs?
Topics regarding layoffs at Fidelity Investments
Fidelity Had ‘Locker Room’ Culture, Ex-Employee Says in Lawsuit
Love how the PR person always says "nothing to see here" (Bloomberg) – A former Fidelity Investments employee claims she was taunted by two male colleagues who openly made offensive remarks about her pregnancy, race, women’s bodies and... — read more
My department was just informed that we have to reapply for our jobs.
Looks like layoffs are around the corner.
When to call chairman’s line
Has any called the chairman’s line about a group leader who supports racism and targeting at work? This manager has many complaints on them filed by associates they manage and nothing is done about it. It k–ls me to watch this happen at work and... — read more
Work from home reimbursement
As everyone here knows, Fidelity employees are working from home. Currently, only management employees are being reimbursed for cell phones, but as all employees are using private devices, does the company run the risk of a lawsuit for not... — read more
Return to office
Now that they are piloting return to the office plans, are people who won’t go back going to be laid off? Many comments to the video suggest they want to keep working from home, don’t feel comfortable going back to the office, etc. Seems Fido will... — read more
Fidelity sunk 1B in the Permian
Just curious to know how many people if any know Boston sunk 1B in the Permian Basin? The asset continues to bleed red. Mass layoffs for field and office staff. DNR board know what they allowed to happen. Consequences????
Voluntary Buyouts
TIAA just announced: https://www.pionline.com/money-management/tiaa-nuveen-expect-low-takeup-buyouts Anyone here anything for Fidelity?
Hiring already laid off people
Since Fidelity has been spreading the news about hiring about, it sounds like, 1.5 million people, have they rehired any people previously laid off?
How’s that defensive pas portfolio doing?
How’s your portfolio in Defensive Pas?
Any rumors about massive cuts now that the stock market is in free-fall?
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.
"Special" FI company meeting 3/9?
Any ideas?
652K/yr
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.”
RIFs in SLC Today
Shoot
Having a job doesn’t equate to talent!
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
Changes coming to compensation structure?
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
Fidelity Rebranding
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
Ageism in the workplace - AARP
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
Moving assets out of Fidelity
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
Begging for PTO
If you are not an exempt employee, what is your favorite technique of begging for time off at Fidelity?
This makes very little sense
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
Fidelity Computer Reimbursement - Class Action
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
Bonus
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.
People need to learn new skills
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
Big layoffs in 2020
I heard there will be big layoffs in 2020.
Zero commissions - this board's about to get a lot more active
Sorry to say it.
What should I tell them?
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
Future is uncertain...
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
Offshoring
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
Because most people working at Fidelity are Lower-Income Americans
https://www.wsj.com/articles/lower-income-americans-are-increasingly-job-hopping-11569277210
#METOO FIDELITY?
Let's hear some stories of the firm handling this... Overreactions? Only certain people getting in trouble.
Not buying the job mobility push
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
Fidelity Ensnared in MIT 401k ‘Quid Pro Quo’ Allegations
I bet Ned is not so happy with his daughter right... — read more
ProPublica article
https://features.propublica.org/ibm/ibm-age-discrimination-american-workers/
Sound Familiar?
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
New WI Layoffs
Heard new layoffs in WI now they have gone full agile. 200 plus over the last two weeks or so. Multiple locations.
Be smart, not just old.
(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