Fidelity Investments Layoffs

Topics regarding layoffs at Fidelity Investments

Fidelity Computer Reimbursement - Class Action

When’s the class action going down with this? It’s clear as day that Fidelity made these mass terminations knowing that revenue declines were on the horizon. I’m sure that Fidelity made assumptions that they can not prove to terminate so many... —  read more 

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Post ID: @12noZlRX

Age discrimination class action?

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 

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Post ID: @PIIaKwU

Bonus

Does anyone know when salaried employees will have their bonus paid out? I’ve heard rumors of both the 6th and the 13th of December.

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Post ID: @12jkiDs7

People need to learn new skills

As somebody said in another thread, too many people at Fidelity who are complaining about layoffs are those who have not even tried to keep up with the changing times and now their pay does not match their skill set. If your skills do not match... —  read more 

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Post ID: @125GmH0Q

Be smart, not just old.

(This was a reply to a different post. May work here too.) There will be reductions. So, be smart about it. Not angry. Fidelity is run by a very few, very protected people. Just look around. It’s easier to dump thousands of calls on reps instead of... —  read more 

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Post ID: @ZTwrcxG

What should I tell them?

I’m a current employee at Fidelity and trying to get a family member and also a good friend to apply to Fidelity... They would be a perfect match for the company and they don’t want to because of the ugly perception of how Fidelity has mistreated... —  read more 

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Post ID: @11lKLs4N

Future is uncertain...

Our costs are down, but prices are down too... A typical ETF charges 0.1% a year, compared with perhaps 1% for an active fund. You can buy ETFs on your phone. An ongoing price war means the cost of trading has collapsed, and markets are... —  read more 

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Post ID: @11lCRVgp

Reimbursement programs

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

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Post ID: @PA5YcuW

Offshoring

A lot of these offshoring firms on US Soil are hiring those seasoned & older employees. In terms of Fidelity, there are a lot of folks that had been let go over the past few years and those that participated in the VBO are now working for a lot of... —  read more 

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Post ID: @11fFD10B

#METOO FIDELITY?

Let's hear some stories of the firm handling this... Overreactions? Only certain people getting in trouble.

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Post ID: @10YoN9Wu

Not buying the job mobility push

For several years Fidelity has been pushing the job mobility thing. Being a white male in my 50s, I was resisting it for a long time because I didn't want to end up the new, inexperienced, guy on a team and be easy pickin's to lay off. But, in the... —  read more 

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Post ID: @10G2JO9I

saved from reimbursement bs

My previous comment got deleted....strange.. Anyways my lawyer got me off with a warning from this Fidelity $hit, no mark on U5 or CRD. Neda literally saved my career. Ain't cheap but you get what you pay for

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Post ID: @ZEe4iij

Sound Familiar?

IBM laying off older workers to make room for mellenials: https://insights.dice.com/2019/08/02/ibm-layoffs-ageism-age-discrimination/?CMPID=EMREUPJSADDACPA&utmcampaign=AdvisoryDiceAdvisorA&utmsource=Responsys&utm_medium=Email

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Post ID: @10rDVGjb

New WI Layoffs

Heard new layoffs in WI now they have gone full agile. 200 plus over the last two weeks or so. Multiple locations.

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Post ID: @10ayI674

The only guarantee is there will be reductions

The only guarantee is there will be reductions...(This is Fidelity we are talking about!) Whether it’s wrapped in a silver VBO wrapper, or poorly disguised as a ham handed “re-org / eliminations (by conference call) with ‘new jobs’ for which everyone... —  read more 

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| 2277 views | |
Post ID: @Zi3HJBy

fitness reimbursement

I replied on my own to FINRA 8210 letter and I was sure it was a thorough and accurate response. Last week I got another 8210 letter. Did anyone else experience this?

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Post ID: @YAP5vNq

Latest on layoffs?

Any news on layoffs? There were mentions of another round in February but then all talk of it died down. I'm hoping that means the rumor was debunked as false, but it would be nice to know for sure. I know we'll be seeing more layoffs in 2019, but... —  read more 

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Post ID: @WRFTdlX

Reimbursement program audits continue

I got let go for admitting I returned computer items from over 3 years prior. Repurchased but eBay goes back only 3 years and PayPal 2 years. Don't think it would of mattered even if I could get them. If you are called into investigation by internal... —  read more 

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Post ID: @SUABhNe

FIDELITY CLASS ACTION LAWSUIT ?

Anyone hear about this ? Fidelity calls the charge an “infrastructure fee.” The fee reportedly amounts to 0.15 percent of not only Fidelity customer assets, but also of the mutual-fund company’s industry-wide assets. It was implemented in 2016... —  read more 

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Post ID: @Y4Mjqb0

Market in the toilet = layoffs

Worst week since 2008, which was the last time there were deep layoffs at the company. PAS / mutual fund revenue just took a 20% haircut in the last few months. Money markets are the new cash cow, but is it enough to keep the ax from coming down?

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Post ID: @WKgvOSw

T-Minus 31 days and counting

So here I am, it was a good run, Boston times were fun, very fun and I was not s-xist and discriminatory, but I guess I will need to pay the price for my forefathers. You really have to wonder what you get for being a good, clean and honest person at... —  read more 

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Post ID: @WpKHpM3

Bonus ?

For all of you who complain about Abby and her greed ... what do you think of the 20% bonus most associates will receive next week in addition to the 10% Profit Sharing we receive in January ? I don't that that is greed at all.

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Post ID: @WoueMdX

Nepotism at Fidelity

What do you think about it? I’m referring mainly to local managers bringing in their kids, taking better jobs away.

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Post ID: @WppoVzo

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 

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Post ID: @UeY4waw

A good interview with the CEO

Ran across this interview online and I found it to be a good read. The CEO and the chief of the Personal Investment Unit discuss the current situation at the company and the plans for the future. For those who are interested in this, the interview is... —  read more 

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| 1484 views | |
Post ID: @Wi6C89U

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