Fidelity Investments Layoffs

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Topics regarding layoffs at Fidelity Investments

I got old

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

Reimbursements

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

Layoffs in EI

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

Really disappointed in Media/Blogs

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

This is what we get

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

The company is going down fast

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

Unemployment Issues In Utah

Has anyone recently been successful in getting unemployment in Utah. I filed and it was denied because Fidelity is still fighting it. I have appealed and have a appeal hearing in a week. I was wondering if anyone recently has gone through this mainly... read more

Was May 11 the end?

From what I gathered here, the last confirmed cases of firings that were a part of the whole reimbursement program fiasco took place on May 11. Does this mean that the whole witch hunt is finally over, or will there be more of the same to look... read more

Hiring Fired Folks

There is only one instance mentioned on these recent threads of someone being "hired" by another firm, but it appears that the rep went independent and one of the independent platforms was willing to let them hold their registrations there. So, not a... read more

Sales Practices Would Make Wells Fargo Blush!!

Fidelity’s sales practices would make the scandals of Wells Fargo pale in comparison if Fidelity were a publicly held company. Extremely high pressure and unrealistic sales goals force reps to slam clients into illiquid investments like income... read more

A Lawsuit that can work

Like some have said, suing Fidelity for firing you for the reimbursement issue has a lousy chance of success. If you want a lawsuit that has a chance to hurt Fidelity it would be regarding their contributions to the 401k plan. Has anyone noticed how... read more

WSJ article about firings...Update

This is total BS.....from WSJ in my humble opinion. They have locked the comments section down for other reasons.... "Commenting on this article is temporarily unavailable while we update our comments system."

Reps ROBBED of Sales Production!!

What I find ironic is the fact that Fidelity has a purposeful policy of not paying reps for all of their sales production.Reps easily and repeatedly are robbed of at least 15-20% of their sales production due to the fact that Fidelity simply will not... read more

Reps Repeatedly Robbed of Sales Production

What I find ironic is the fact that Fidelity for their purposeful policy of not paying reps for all of their sales production? Reps easily and repeatedly are robbed of at least 15-20% of their sales production due to the fact that Fidelity simply... read more

Collections?

Anyone receive letters about being sent to collections if they don’t “return” the over payment?

Litigation / wrongful termination

Terminated employees should not hold out much hope that these law firms will somehow be able to get you your job back or successfully file any sort of wrongful termination suit against Fidelity. While it feels good to hold on to hope, or to dream... read more
by | Post ID: @Tbv9350
537 views | no replies

FINRA inquiry

I recommend attorney Neda Ataie from Thomas Law Group to handle the FINRA inquiry. She knows a lot of FINRA exterminators so she definitely has an advantage there. Plus she charges a reasonable fee and handles everything herself instead of dumping... read more
by | Post ID: @Tb0LSqR
382 views | no replies

Vbo no more due to sleazy reps

Stop waiting for the next VBO. The last one was a failure as stated from an inside executive. The MAN is all hopped up on the current benefits scam . The company thanks you.

Fidelity firings summary

This is the most complete picture: Fidelity has blown this way out of proportion in a very bad way...time will tell what comes of it. But here’s the story... Everything started with a rep in Jacksonville - he helped others get the reimbursement and... read more

Student Loan Assistance

Has anyone been laid off for the student loan assistance? That just seems so easy to defraud. They would have to run credit checks from quarter to quarter to see how loan balances were declining .

Guidance For Active Employees During Witch Hunt

Going to HR, or your manager, with general questions regarding your individual reimbursement situation, could in itself inadvertently raise a red play and get you fired during this active Witch Hunt. For guidance, post your situation in this thread... read more

Quit to save your career

If you quit before you are questioned, you should fine. It seems through previous posts that Fidelity notifies FIRNA a week before you are fired that you are under investigation. If you quit in-between Fidelity notifying FIRNA and them actually... read more

Attention Journalists!

Post your contact info here. I assure you that there will be numerous replies from former Fidelity employees impacted by the firings. I would expect the vast majority would be willing speak on the record. Prove to us that you can do more than print... read more

Is there an end in sight?

Or is this reimbursement investigation going to continue indefinitely? This is affecting mood and morale at the office majorly. People who genuinely took advantage of the perk as it was offered are scared that they will find a way to make it seem as... read more

Fidelity is No Saint

It maybe time to fight back. Fidelity is no saint. What is I have proff of fedelity wrong doing? The witch hunt can go both ways. What if a newsreporter got documents leaked to them about wrong doing they covered up hoping the regulators never found... read more

Share experiences on Glassdoor

All affected should post their experience on Glassdoor. Let the people looking at Fidelity know the truth about the company. They will screw you over, care more about profits then employee, and call you a criminal for vague policies. It maybe too... read more

Moving assets out of Fidelity

I wasn't personally affected by the recent reimbursement-related firings, but seeing the perspective outside of the PR-friendly Wall Street journal articles has left a bad taste in my mouth. It's just so shady how Fidelity could fire employees and... read more

Fidelity - Escorting off the property

Fidelity is not going to allow people escorted off the property to have access to company and/or client information again once walked out. No matter what you produce if sent home. Because then one could come back, get access to company info again... read more
by | Post ID: @T605quR
656 views | no replies

"Oops I forgot.."

I see some people here actually buy that load of BS. And my, so many people seem to have made this same "mistake." Almost like, oh I dunno, the scam was being passed from one to another, but nah, people aren't like that. People never steal from their... read more

This worked out perfectly for Fidelity

It’s a fact that the terminated employees made a mistake. They shouldn’t pretend it was ok to keep a reimbursement for a returned item. Also a fact, Fidelity wants to reduce workforce in a cost effective and PR-friendly way. They also don’t want very... read more

Legal action

Any chance those who have been caught in the crosshairs of this have bases for legal action against Fidelity Investments? I'm not talking about people who actually took advantage of the policy just to get cash, I'm talking about people who exchanged... read more

Reimbursement program affected

Even something as simple as a fitness reimbursement is harder to process. Got rejected several times, with all paperwork and still not able to process it!

Vague Policies

As a Fidelity employee, the policies written are so vague i am not even sure the policy states the products can or can not be returned... some leeway needs to be provided to these employees! At fidelity you are a criminal first. I can not recommend... read more

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