Topics regarding layoffs at Fidelity Investments

Topics regarding layoffs at Fidelity Investments

Quarterly broadcast

Is it just me or does anyone else feel our senior leadership is exceptionally bad at public speaking? I thought Harvard business school was supposed to prepare you for things like this. Guess not. So many stutters, “ums”, “ya-know?”, and overall... — read more 

Westlake wealth show

Can someone confirm what brokerage and wealth are discussing this week in Westlake? My GCL asked obviously being the pain, asked us to be in the office, a day after I was asked if I can relocate to Boston from Westlake 😡😡 Can someone confirm what's... — read more 

I say this with utmost certainty

It seems like Fidelity is getting hit with more and more fraudulent activity. It seems like Fidelity is offshoring more and more work. Those two are linked. I won't go into the details, but the solution involves putting the fox in the h-nhouse. — read more 

What’s it like to be L8 or above?

Only looking for L8 or above to answer. I understand many people want to complain at L8 (it’s Fidelity, you can’t blame them). I just wanted to get a viewpoint of the life of an L8 at Fidelity. I wonder what other privileges you guys have (if you... — read more 

L8 Managers and their contribution .

What tangible value do these individuals actually bring? Most L8+ managers seem to contribute little beyond joining calls, repeating other's points, or derailing discussions with irrelevant input. It’s hard to find one with even baseline... — read more 

My honest assessment of Fidelity

• Fidelity's CEO does not lack integrity but is not a vissionary which is a problem since this moment requires a visionary • Fidelity is held back by a middle layer of NPC-character-like middle management who contribute nothing but drain the soul... — read more 

June, Friday the 13th horror?

Rumor has it next cuts would be announced around mid June? Brokerage, Wealth, WI on chopping block after enterprise got hit earlier this year? Can someone confirm?

Too many managers

We’re too top heavy with low class managers. I don’t me poor, I mean the managers in my BU - they’re bad people. My skin feel like it’s crawling when I see my managers name pop up anywhere.

Colocation, high hiring #s and layoff

Amidst all the reorganization cr-p which has been going on for 3 years now, fidelity headcount has grown by ~5k. With Boston seaport unable to accomplish current headcount and NC already at its peak, there is no way Fidelity can handle everyone back... — read more 

Pulse survey - Not anonymous

Rumor has it the supposed pulse survey for the summer won't be anonymous, similar to manager survey. What's the point of that, it seems to be a show trial just to appease new leaders in Wealth / Brokerage of how great previous leaders are doing the... — read more 

Wealth leadership flash call

My GCL in wealth abruptly left my supposed 1-1 this morning to attend a "flash call leadership meeting". The chatter I heard is another RIF coming with impacted list under each leader was announced. Can someone in another region confirm?

India specific initiatives & TackIT

My CL is encouraging me to support India-focused initiatives, which means attending numerous meetings and preparing presentations. I end up doing most of my core work only in the leftover time. I’m told this involvement is crucial for promotion and... — read more 

RTO, relocation mandate

Attrition tactic posts are spot on. Fido should be in news of how they're making lives miserable for their associates for a good part of past 3 years. 2 years at this firm, I've had already had 4 different managers, 3 work locations, 4 teams. .. — read more 

Clean up the parasites

Eliminate all Grade-8 GCL, Architect/Head titles and roles Reassign SLs to Grade 6-7 positions Redirect resources to actual value creators The truth no one wants to admit: Removing these Grade 8/9 layers would have zero operational impact ... — read more 

Fidelity wants to do worse

Abby will not layoff dead weight. We’re top heavy with too many managers who are all on a power trip. I used to be a professional who wanted to climb the

Fidelity Backward

Out of the recent topics here emerges two patterns and one fact about Fidelity upper management: Since they do not know how to manage geo-distributed teams, they want to 'co-locate' teams. Since they do not know how to manage the **scale... — read more 

Westlake focus due to recent offsite?

Wtf is wealth / brokerage fixated on having westlake as center???? CWP organization is becoming a joke day by day. I wish they brought back the pulse survey. Fido chapter leads in wealth are bunch of clowns.

Off site Bombshell - Relocate or quit

Roger has been pushing for colocation ever since he was appointed as Head of Fid wealth With Bob / Chris Melia taking over, hope the push isn't continued further. Too much discussion around individuals asked to relocate or quit as a result of the... — read more 

Chaos in KY, SLC

Too many folks about recent off-site. Is it true people are asked to relocate to Boston or quit? I am in wealth KY and worried

Lady breaking down

Saw a lady brokedown in SLC cafeteria. Overheard conversations that Brokerage is asking her to relocate to Boston or her time in the organization will be terminated. Can someone confirm wtf is going on?

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Relocate or quit

No more permanent WFH exceptions. Doesn't matter what your contract said when you were hired or when you got WFH exception. Everyone is being asked to "assemble" to a location so they can "mass fire" it seems. SLC, KY folks are asked if they can... — read more 

Has anyone ever come back from a PIP?

I'm not on one, but a coworker was put on a PIP and decided to quit without even trying to fight it. I personally don’t think it was deserved and he shouldn’t have just walked away, but that’s neither here nor there. I’m just curious, if you’re put... — read more 

Reorganizations and broken technology

Joined not long ago. Already on manager number five. That’s roughly one every couple quarters. We talk a lot about progress, but it feels more like constant reshuffling than real momentum. The technology’s still unreliable, and most of these acronyms... — read more 

Brokerage cuts

NC, Boston brokerage / wealth workforce to receive significant cuts. Level 5,6,7 and few 8s confirmed to be impacted.

Cuts in Wealth

Track IT data, attendance, location all considered. Can confirm other layoff posts around fall. Got to know this from a reliable "source"

Layoff

I’ve heard that many GCLs, Architects, and L-8 SLs are on the chopping block. Most L-8 SLs essentially function as glorified Scrum Masters, while Architects are organizing meetings that no one attends. In today’s cloud- and AI-driven landscape, it’s... — read more 

Grow brokerage

Does anyone know if the “Grow Brokerage” training and skill set is supposed to come with a raise? It seems like a lot to have everyone in service learn and not give a substantial raise for.

Karma is a B

Two years, 4 managers, countless flash calls every other week. Unlimited doze of stress, anxiety, uncertainty and still not over. I really wish the higher management gets to meet their karma. You've made Wealth / Brokerage complete joke for... — read more 

Fall cuts confirmed

With latest reorg (once again) which has been going over for past two years, expect brokerage and wealth to have cuts across multiple streams in Fall. The data from track it, will be used to measure those who make the chopping board (still unsure... — read more 

Pros/cons of being a scrum master @ Fidelity

Currently a software engineer exterior to Fidelity. Previously worked at Fidelity as a software engineer. If I remember from working at Fidelity a few years back (before COVID), Fidelity was really pushing for the agile wave. I’m trying to measure my... — read more 

No alternatives

I've been trying to leave for over six months and I've had zero luck so far. A few responses, fewer interviews, and just two offers so far, both trying to lowball me to an insulting level. I don't know who can be brave enough to decide to leave when... — read more 

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