Thread regarding Fidelity Investments layoffs

This makes very little sense

Why is Fidelity letting go of our top talent without even attempting to keep them? And I'm not referring to layoffs, but those who are quitting to join our competitors and are finding zero resistance from Fidelity. Nobody is trying to keep them by offering better pay or something as an incentive. Where will that leave the company in the long run?

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Post ID: @OP+12HapIrF

5 replies (most recent on top)

And having a job doesn’t equate to talent. It could be that you can provide minimum viable product for cheap and they will shed you like dead skin as soon as you cross the line on the pay scale they designed. Suddenly (overnight) the world you were praised for, given recent bonuses and awards for will mean nothing. And suddenly you will be treated and presented as some sort of criminal. Just wait. It will happen to you.

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Post ID: @ppkn+12HapIrF

Your perception of top talent may not actually be top talent. Tenure doesn't equate to entitlement.

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Post ID: @mnaw+12HapIrF

Because they want the top to be younger. The two leaders of the a group that just got laid off are both barely past 40 and it shows in how things are run. It’s easier than actual diversity and the company seems to promote ageism. No ERG for those over 40.

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Post ID: @1pbi+12HapIrF

The few I know, counter offer were made. Perhaps not all are "top" performers.

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Post ID: @igl+12HapIrF

Most likely because these are senior level people and Fidelity is all about replacing them with younger and cheaper people which they can mold for NextGen.

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Post ID: @wjb+12HapIrF

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