Thread regarding Fidelity Investments layoffs

How fast is the ship sinking?

Someone asked if ship is sinking since we have second VBO in a less than a decade. In my humble opinion, the question is not whether it's sinking, because it is obvious, but how fast is it sinking?
Anyone who is young and talented should look for new options as soon as possible.

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Post ID: @OP+19Zxc88Q

21 replies (most recent on top)

Fido's trying too hard with the "woke" culture. Between that, transformation, age–ism, poor management, etc. The company is headed in the wrong direction. Good while it lasted. I do love hearing L1s and L2s lecture about D&I, who are mostly old white males. STFU already!

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Post ID: @vgin+19Zxc88Q

Fidelity's D&I initiative is overlooking the reality of "The Bell Curve."

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Post ID: @hxdo+19Zxc88Q

This ship is not sinking, but Fidelity is putting itself in a tough spot. Losing so many with deep knowledge of how the industry works will set this giant back. As a non-white associate who has interviewed, hired and trained many over the years, I can tell you that the push to hire non-whites is a detriment in that we are simply checking a box (not sure what they are teaching in college nowadays). The market place will decide what happens to Fidelity, but it doesn't look good at this point. Clients will soon realize Fidelity has dropped a few notches and other firms have elevated their game. We can still prosper, but our D&I pendulum has swung too far to the wrong side. I hope we do not lose too much market share. I bleed green but not happy with our direction.

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Post ID: @gwnw+19Zxc88Q

apparently ‘inclusion” in big green does not include “people with age.”
Hypocrites.

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Post ID: @fbcl+19Zxc88Q

Same racism different white hood to keep you anonymous

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Post ID: @bstp+19Zxc88Q

@7nrd+19Zxc88Q —- “the new D&I kids aren’t that bright” —- I disagree! I think we will all be just fine if you and your racist a– take the VBO! I don’t think the boat is sinking but hopefully racism is.”

Be careful, your conscious bias is showing. Everybody is all about D&I until those who are over 40 get involved. Then the calls for inclusion go out the window.

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Post ID: @8cta+19Zxc88Q

@7nrd+19Zxc88Q —- “the new D&I kids aren’t that bright” —- I disagree! I think we will all be just fine if you and your racist a– take the VBO! I don’t think the boat is sinking but hopefully racism is.

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Post ID: @8jpq+19Zxc88Q

The new D&I kids aren't that bright and I see no future in this company. We are at Peak Fidelity.

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Post ID: @7nrd+19Zxc88Q

“Woke” - please. (“ The woke folk ..”) More like “comatose.”

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Post ID: @4qey+19Zxc88Q

Post ID: @2jhg+19Zxc88Q and Post ID: @1hwq+19Zxc88Q and anyone else touting the big green company line that the vbo is “purely about creating space for more diversity and the younger generation / upward mobility.” One word: Bullsh. The only person you’re kidding, is yourself. It’s obvious to everyone it is straight-up ageism. This corporate-speak is what Fidelity has to tell themselves so they can sleep at night. Unbelievable bullsh reprehensible behavior.

Watch an old 1970s movie called “Logan’s Run.” Thats Fido.

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Post ID: @3nut+19Zxc88Q

Take it if offered. Second round will be much less generous.

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Post ID: @3xhb+19Zxc88Q

they have hired kids fresh out of college and promoting them over senior employees.
not a very encouraging sign. environment nit positive.

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Post ID: @3pvn+19Zxc88Q

Yep. The woke folk don’t recognize anybody over 40 as being worthy of inclusion. That is what this is all about. Don’t kid yourselves. Fidelity has every right to run their business the way they want. Just because this VBO has a nice red ribbon, doesn’t mean it’s not about ageism.

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Post ID: @3gdd+19Zxc88Q

No, you don’t HAVE to accept the VBO if offered. But, I know for certain the people who did not accept the offer last time they did VBO, were laid off 2-3 weeks later. Don’t be naive—Take the offer.

Call it whatever you need to help you sleep at night; but bottom line, it’s straight up ageism.

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Post ID: @2ovn+19Zxc88Q

This VBO offer is about making room for more internal mobility AND a way to move people out who have been at the company for 20+ years feeling too comfortable. It's been a great career and they are offering a pretty good package. It's time to go, sign!

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Post ID: @2jhg+19Zxc88Q

Think you are assuming you have to take this generous offer. You don’t and if you don’t it’s fine despite the people posting conspiracy theories on here. Fidelity is not after anyone personally, they are trying to keep and grow a diverse workplace by offering to pay you to retire if you think it’s the right time.

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Post ID: @2wwl+19Zxc88Q

Earlier post states -“This is purely about creating space for more diversity and the younger generation. Fidelity’s”. So we’re all for inclusion unless you’re talking about people over 40.
Got it- ageism is ok. While I don’t disagree with you that this is what it’s about, that doesn’t make it right. Ageism is a bigger problem outside of Fidelity. It isn’t even unconscious bias.
It is promoted. It’s wrong.

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Post ID: @2icc+19Zxc88Q

Record profits and hiring like crazy. This is purely about creating space for more diversity and the younger generation. Fidelity’s success and high pay has created the problem of employees who never leave. Believe me it’s a good problem to have.

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Post ID: @1hwq+19Zxc88Q

Not necessarily. If AJ has filled the family's coffers, with no one to take her place should she want to retire, the family may decide this is a good time to sell to BofA (rumor going around for the last 15 years or so). Family might want out, so VBO will help get rid of the bloat and get ready to sell a lean company.

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Post ID: @1stz+19Zxc88Q

The firm is bloated no doubt. It's not sinking. Some parts can be shut down. Some made more efficient. And new businesses can be started using the saved capital. It's by no means a sinking ship. It does need fresh thinking at the business unit head level. They run independent fiefdoms. Despite all that the company makes money. There is always room for improvement. And that's true for everyone, every company, every country.

Vbo is a generous offer - a sinking ship would have jettisoned people.

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Post ID: @1nrx+19Zxc88Q

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