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Topics regarding layoffs at Fidelity Investments
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
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
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
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
Heard from a reliable source that there were some reps that quit well before being questioned, and they still got marked up even though they no longer worked for Fidelity at the time their names came up in the audit. There are some clear privacy... read more
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
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
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."
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
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
Anyone receive letters about being sent to collections if they don’t “return” the over payment?
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
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