Thread regarding Fidelity Investments layoffs

Poll - Taking the 2021 VBO or Not

Respond yes or no
Age
Tenure
WI or PI or Other
Reasons why taking it or not
Any plans afterward?
Happy with the benefits?
Other thoughts?

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Post ID: @OP+1a2BLn8V

26 replies (most recent on top)

Yes, taking the VBO!
Age: 57
Tenure: 24 years
WI or PI or Other: FI
Reasons why taking it or not: Too good an offer to pass up. I am certainly not ready to retire but I've been around long enough to see the writing on the wall.
Any plans afterward? Yes, I am planning to take a month or two off and look for a full time position elsewhere
Happy with the benefits? Yes, this VBO was quite generous
Other thoughts? My advice is to take this VBO. The woke mob has taken over this company. They are more focused on the feelings of their new Gen-Z employees than getting work done. D&I is forcing Teams to hire based on skin color. The impending 2022 recession will have a bad impact on Fidelity's bottom line. Now is a good time to get out!

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Post ID: @Vdaf+1a2BLn8V

I am astonished that some people are NOT taking the VBO.

D&I plus the new 4 Growth plan just means they are looking for ways to RIF people in the near future.

Just about every worker over 55 is in the "What's Next" bucket of 4 Growth. You are being targeted. If you didn't take the VBO, then you are definitely placing yourself on thin ice.

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Post ID: @ozbo+1a2BLn8V

Respond yes or no - yes
Age - 57
Tenure 27 yr
WI or PI or Other - WI
Reasons why taking it or not - to good to pass up. Stressing every day and working a lot of hours and holidays. Worked in various groups outside of WI and been Rif'd twice and I am taking this on my terms. I don't know if this will come back up in the future but those who are not reading between the lines, you need to think hard about thinking that the company has your best interest which they don't and if this will ever come up again. I was in a group that worked on the last VBO and knows what went on. After the last VBO, I knew people who were here over 30 yrs and were let go a year after the VBO along with a couple of groups in PI that were eliminated due to restructuring (managers and staff). The need to cut long term cost and one way is getting rid of people who make good money and been here a long time which they can be replaced by cheaper labor. All of this recent hiring is to get people in the door to train and move up in the company in a couple of years. Ned cared about his employees.
Any plans afterward? No, per my Wealth manager, I don't need to work. I may find something for fun money and to keep busy. I would recommend if you haven't talked to anyone in the branch yet about your finance you need to to get your full financial picture. That helped me decide.
Happy with the benefits? Yes

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Post ID: @omxo+1a2BLn8V

56 yrs old, 14 years. Taking VBO
WI
I have been thinking about changing careers for awhile. Generous healthcare for 2 years with Retiree HW after that to age 65, about 10 month in pay with the LS. All good with me.

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Post ID: @bsgd+1a2BLn8V

Respond yes or no - Yes
Age - 53
Tenure 28
WI or PI or Other - WI
Reasons why taking it or not - WAY to much stress and hours, 50+ every week. If I try to stay for another VBO the stress will probably k–l me first-not joking.
Any plans afterward? - Yes, take some time off then look for another job.
Happy with the benefits? Yes, not many companies can touch Fido on benefits but you can only handle so much stress.

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Post ID: @9gxj+1a2BLn8V

Definitely taking it. Great package , benefits for 27 years of service.
D&I definitely a factor ...especially being lectured by 60 old whites guys whose direct reports are all 60 years white guys about why D&I is important....pretty funny believing they think it’s important. If the CEO changes her mind tomorrow this issue would be back burner Lots of hypocrisy here ...do as I say not as I do m

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Post ID: @8dlt+1a2BLn8V

Respond yes or no - YES
Age - 55
Tenure - 28yr
WI or PI or Other - Other
Reasons why taking it or not - Great opportunity to begin retirement early
Any plans afterward? - not in the career world
Happy with the benefits? yes
Other thoughts?

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Post ID: @7azg+1a2BLn8V

Yes taking it
58 yrs old
25 years at this wonderful company
The package is way to good to pass on it

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Post ID: @6lvi+1a2BLn8V

Yes taking it
53 yrs old
31 yrs tenure
PI
A couple years shy of my plans but too good to pass up. Ready to relax and look for something less stressful after the summer. Benefits are amazing. Fidelity owes me nothing but because of Fidelity I can actually do this. The recent explosion of D&I is too uncomfortable. Looking forward to life after Fido.

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Post ID: @6yqk+1a2BLn8V

Respond yes or no - Yes
Age - 56
Tenure 35 years
WI or PI or Other - WI
Reasons why taking it or not - Love this company - started when I was 22 and have worked in several different roles. Current role isn't the best so it just makes sense because who knows if this will happen again?
Any plans afterward? At first just enjoy time with out the stressors of work and not working beyond normal hours/weekends.
Happy with the benefits? Absolutely - can switch to spouse's insurance after 2 years. Who can pass up 2 years of pay?

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Post ID: @5hlh+1a2BLn8V

Not taking
57
14+ yrs
Other
Generous offer just not quite ready mentally or financially to retire and I don't see the grass as greener anywhere else.

Like one colleague above - if they offer it again in 4-5 years that would be a different story.

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Post ID: @5qwh+1a2BLn8V

Yes!
54

  1. 5 years

Enterprise technology

Agile approach has taken the joy out of the work for me, we are pretzeling the wrong kind of work into points, JIRA, and so on. We are struggling to get to value. I don’t see a place for my skills, no longer feel useful

Double dip and consult/contract...

try new things!
Will begin to work less and transition to retirement

Benefits are fine

I miss the pre agile days, I guess it’s working somewhere, but I don’t see the upside in my work. Feels like we are going in circles.

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Post ID: @4hpv+1a2BLn8V

Yes
Age- 58
Enterprise
23 years
~2 years of pay with 2 years of health coverage with option to continue health until 65, Sign me up! I would be crazy not to take it. I'm financial ready and excited about enjoying retirement with freedom to travel and focus on activities without the stress of the world on my should. I worked really hard at an amazing company and feel proud of numerous contributions but now it's time to go. Truth is, I don 't have the passion for the work like I once did. I think more about activities outside of work than getting excited about "strategic Initiatives". I want to enjoy retirement while I'm on the younger side, thanks to Fidelity, I'm in a position to do that. Happily signing!

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Post ID: @3aiz+1a2BLn8V

Unsure - leaning to NO
61
22 years tenure
Wasn't planning on retiring until my full retirement age of 66 and 10 months. Plus I'm not financially ready. Just bought a house less than a year ago
Would need to find another job with the same excellent pay and at my age..well may not be possible.

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Post ID: @3ztw+1a2BLn8V

Respond yes or no — Yes
Age 56
Tenure 20+ years
WI or PI or Other Other
Reasons why taking it or not To Too generous an offer to ignore
Any plans afterward? Retirement
Happy with the benefits? Yes
Other thoughts? Time to make room for the next generation

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Post ID: @2pbf+1a2BLn8V

Yes VBO. 58. 24 yrs. EI
The deal is simply too good to pass for my age. 1+ yrs VBO pay & 2 yrs same health insurance & extended health insurance to 65. Thats just awesome and freedom. Plan to take a break, relax, travel for 1-2 yrs. Even though I believe I have all the updated skills to stay at current post or move to another BU, but the current reorg in progress for months is introducing uncertainty and distrust. The digital transformation for some BUs is inevitably and unfortunately taking too long for some BUs. I love the company, and will always do. I used to eagerly wake up to go to work, couldn’t wait for weekend to end to continue my project. Not anymore. That passion for work is long gone. So it’s time to go. See where this decision will take me.

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Post ID: @2gua+1a2BLn8V

Yes taking the VBO
58
24 Years
Other BU
Had a target of retiring at 60/61 to this bridge is good enough
I'm ready, tired, put a lot of blood, sweat and tears into this company, gave it my all. Feel now it's out with the old, in with the new. It's time to go.
I plan to live my retirement with my head held high, had a career at an excellent company that I am proud to be part of. The package is okay, could be better of course.
Don't plan to work, I plan to enjoy my activities with freedom and a lift taken off my shoulders every night. Meet with a financial rep, it might help with your decision if you are undecided. Also, I have quite a few friends who took the last VBO, nobody regrets their decision. Good luck!

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Post ID: @2aav+1a2BLn8V

Respond yes or no -> YES (assuming a job on the other side)
Age -> 52
Tenure -> 24
WI or PI or Other -> Other
Reasons why taking it or not -> $, something new
Any plans afterward? -> double dip
Happy with the benefits? -> money today is always better than potential money tomorrow
Other thoughts? -> I have't talked to someone who left who wishes that they didn't

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Post ID: @2qry+1a2BLn8V

Take 54
Enterprise Infrastructure
We are already interviewing to keep our jobs...this reorg started last fall. Grossly mismanaged to take this long. Leadership should be embarrassed.
Just be straight .....

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Post ID: @2zfv+1a2BLn8V

Take-no
52
27 years
PI
Too young to retire and Fidelity pays too much to make sense leaving.

If I work here 4-5 more and they offer another I’m gone.

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Post ID: @1tuf+1a2BLn8V

Respond yes or no - Maybe. But I have signed up for VBO but will use everyday up to the June 3 "rescind" date to fully decide
Age - 59
Tenure - 12 yrs
WI or PI or Other - Other
Reasons why taking it or not - Still weighing all options
Any plans afterward? - would find another job if I took the VBO, mentally and financially not ready to retire, I love what I do and still have something to offer
Happy with the benefits? - The VBO health coverage is good, the financial package is not that great IMO

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Post ID: @1wrg+1a2BLn8V

Yes
60
30 years
I was going to retire at 62. Now they’ll pay me until then so...
Next year begin new career for fun
Very happy with the benefits

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Post ID: @1mcc+1a2BLn8V

Yes taking VBO
55
32 years with company
WI
Why taking? underutilized, bored, tired, don't agree with the company's financial backing of certain politicians.
Plans? take some time and look for inspiring work.

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Post ID: @1vcs+1a2BLn8V

Yes.
Age 56
Tenure 26 yrs
PI side
Reason. I am ready to make a change, try something new. Hoping for something I dont have to think about after hours, a better work/life balance. Planning on taking time off build some memories with my wife and kids (they grow too fast). Maybe start looking for work in the Spring.
Thoughts.....Before this offer I didnt see a way out without putting undue stress on the family. This is a gift to start new.

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Post ID: @1hwm+1a2BLn8V

Respond yes or no - Yes
Age - 58
Tenure 27yr
WI or PI or Other - WI
Reasons why taking it or not - Ready to move on to something different before it's too late in life
Any plans afterward? - Take some time, find another job in the same field or maybe at Home Depot
Happy with the benefits? Yeah, healthcare to 65 was the key hook

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Post ID: @hzm+1a2BLn8V

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