What do you expect to happen as it relates to 2018 layoffs that "MIGHT" happen?
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Topics regarding layoffs at Fidelity Investments
I've been told that Fidelity uses sock puppet accounts to post on here and on Glassdoor to make themselves look better. Sneaky.
Individuals getting laid off is a whole lot different than a wide-scale RIF. It happens all the time. No one has promised to work for Fidelity for free for the rest of their lives, so the organizaton has to make decisions about who to hire and what... read more
Considering that the large majority of those laid off are 50 or over, I was wondering if a class action based on ageism against Fidelity would be a possibility. My wife is one those who were laid off, and she said that in her department there is... read more
My location was spared yesterday, but I've been sitting here on pins and needles today thinking that maybe it was just a reprieve and they will continue with layoffs. Not much mentioned here on the board, so that's good news, I guess. Anybody knows... read more
I guess they didn't get enough older workers to take the earlier retirement, so they got many of them in this second round. Fidelity is a very profitable company that is just kicking older workers to the street and throwing in a few younger ones too... read more
God I hope I am picked if this layoff is true. I can't take it here anymore. This company is not the same from when I started 15 years ago. Year after year it's more work for less.
Well, if people are right then a lot of Fidelity employees are going to lose their jobs on 10/10. Let us know what happened here.
SIAP but sounds like there is an internal audit where they are reviewing employee reimbursements submitted. From what I heard people have already been let go. Not sure if this is ongoing or not, but just an FYI
I was laid off 3 months ago but I see this board is flaring up again - what's going on at Fidelity?
I’ve been with this company for almost 17 years. I have worked in Merrimack, Covington, and currently in Westlake. I turn 50 later this week and I assume that my time is up. This company acts like they want to recruit people who want to spend their... read more
My role is now cleaning up the mess that newbies make. I get the feeling that no one really knows what they are doing and five reps will give five different answers to the same question. They merged all the service roles which just makes matters... read more
Anyone hear anything? All is quite where I am
I am getting really tired of looming layoffs, especially since due to my age I know that sooner rather than later I will be among those let go. I am nearing my fifties, and we all know that's a death knell for staying employed with Fidelity. I am... read more
It should be coming in either Monday or Tuesday.
You've all long been overpaid at Fido for a long time. Blackrock robo-investing. Writing on the wall. This is the future. You've had more stability than anybody else in any other industry in the Boston area I know already. Before you start flaming... read more
Heads up if you've ever fudged on your expense report or any of the reimbursement programs. About a hundred people were pulled this week from investigations over wrongful reimbursements. It's definitely a wrong thing to do but those who were licensed... read more
Yes definately more coming in October and then more in Q1. Face it, Vanguard has 6000 employees and Fidelity has 50000. Who is getting all the new money? I agree -rip off the band aid and get it over with quickly but hard to do with stocks at all... read more
This is becoming unbearable. With yesterday's layoffs, it's clear that we have no idea when or where they are going to hit next. No announcement, no preparation, nothing. And they make sure to do it in small increments, so that blowback is minimal... read more
since the smaller than expected RIF last month the rumor has been more cuts in the fall in the September timeframe. Just confirmed one admin type layoff this morning in Smithfield, and word is more are afoot. What are y'all experiencing today?
What if fidelity traders and phone reps went on strike how amazing would that be. Imagine all the pins that would be blocked and all the quotes that would go ungiven.
The most recent cuts are perhaps the most nauseating. How does the company gain anything by cutting a reliable employee making say 55-60k base with a unknown commodity making 45k? These were the kind of cuts that were made all throughout the regional... read more
Hearing rumors of another buyout for 50 and over. Have no idea if this is true. Has anyone heard anything?
The problem with Fidelity is that it bloats itself over the years and then cuts core job functions trying to fix the bloat, which leads to downstream chaos. It really should use the last in first out method because the people added since the last... read more
Anyone have the number for the Chairman's Line? It's an anonymous employee relations phone number.
Heard there were 11 PMs released today. Can anyone confirm?
I am sure that several hundred people who were laid off at the time the company is doing well also feel safe now that they can't provide for themselves or their family. /rant... read more
I have it on good authority that the Fidelity survey about the work environment is used to weed out the negative people in the company. If you give a VERY negative survey, then you will be given a bad review and you will be "laid off" at the first... read more
Just talking points pretending this didn't happen. No reassurances or anything to boost morale. Very disappointing. There's a dark cloud hanging over this company. I've never felt less in control of my destiny.
This was completely cost saving. From the roles that only had a person or two eliminated from each site, like phone supervisors, all of the chosen individuals were the longest tenured and therefore highest paid, some maxed out for the salary bracket... read more
Been there 5 years. Don't trust the company, managers, directors, VPs, and CEO further than I could throw them. There is definitely a reason why the annual survey has not been given. I just want to work, earn a fair compensation, help people, and go... read more
Discussed the October layoff rumors with a GM and SVP at 2 different sites. There are no additional future layoffs planned. So regardless of what you may hear, ignore it because it simply not true. Now what could happen are possible one off job cuts... read more
Discussed the rumors with a GM and SVP at 2 different sites. There are no additional future layoffs planned. So regardless of what you may hear, ignore it because it simply not true. Now what could happen are possible one off job cuts here and there... read more
Is there any word on the total number of employees that were laid off?
In your opinion... Was this "job action" layoff more focused on specific individuals & small teams or more designed to cut costs for Fidelity? What do you think?
DealBreaker has a brief layoffs coverage piece that just got published - the link is below: According to Axios’ Dan Primack, Fidelity Investments has laid off “hundreds of employees” today. While it’s a bit weird to see this news on the heels of... read more
I would love to hear a valid explanation behind the need for layoffs. If you survived today, do you trust Fidelity?
9 people let go today Pra, pas, rrm, directors, sps, exec secretary