Fidelity Investments Layoffs

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Topics regarding layoffs at Fidelity Investments

New VBO?

Friend of mine heard from secretary today, that new VBO will be offered in October, for those 55+.

Dark Side at Fidelity

https://www.bloomberg.com/news/articles/2017-11-03/dark-side-at-fidelity-women-describe-culture-of-bias-revenge

Fake news?

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

About time Fidelity gets sued

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

Sic transit gloria Fidelis...

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
by Boog | Post ID: @UKC690V
732 views | no replies

No Investigation

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

Layoffs in October 2018

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

FINRA changes

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
by Anonymous | Post ID: @UmCqPAy
474 views | no replies

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 Anonymous | Post ID: @Tbv9350
617 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 Anonymous | Post ID: @Tb0LSqR
469 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

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