Thread regarding Fidelity Investments layoffs

Any rumors about massive cuts now that the stock market is in free-fall?

Heard a long-time co-worker mention they cut to the bone back in 2008-2009 when the recession hit. Expecting a similar knee-jerk reaction due to the paranoia going on now.

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Post ID: @OP+13UySy0K

10 replies (most recent on top)

There have been layoffs of long-term employees where the position is “eliminated” only to have the job posted a week later.
Cut the higher wage, older employees and replace with 2 young inexperienced cheaper employees. That’s the Fidelity way.

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Post ID: @Qfzv+13UySy0K

People are twiddling their thumbs here. Yet hiring 400 customer advocates aka entry level associates

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Post ID: @Qmjy+13UySy0K

Oh give it time. There will be layoffs—oops, I meant “restructuring” or “synergizing” (pick your favorite term from any bullsh** Bingo card) especially once you hit a certain age. The place is a modern Logan’s Run.

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Post ID: @Nmzv+13UySy0K

Yes. I don't work for Fidelity anymore, however I know a hiring director and they are hiring like crazy. Suppose they are zigging while everyone else is zagging.

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Post ID: @Mvuc+13UySy0K

Sorry to disappoint you but Fidelity is aggressively hiring. One of the many great things about working for a private company.

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Post ID: @Mrzo+13UySy0K

Why has this board got so quiet? When is the ax going to fall, someone knows so do tell.

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Post ID: @Lqkr+13UySy0K

"bad annual reviews"? Well it must matter what group you were in - myself and many other folks were let go in the 2008 bloodbath - changed my life for the better. It was not due to my own performance - reviews were always good. Cannot speak to others.

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Post ID: @lobz+13UySy0K

Roger Lawson was also involved at that point. He is well known for cutting back.

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Post ID: @3tbd+13UySy0K

My group was cut from 45-12 back in 2008. Most were not poor performers, just victims of being in the wrong group when the market tanked.

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Post ID: @1hki+13UySy0K

They did cut a lot of people back in 08-09, most were people that had bad annual reviews. Who knows what will happen with this wild market. Things are a lot different now that commissions are $0 and interest rates are already low.

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Post ID: @1dar+13UySy0K

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