Thread regarding Fidelity Investments layoffs

Is anybody safe from layoffs at Fidelity?

Other than the ELT, is there anybody who can consider themselves safe from layoffs these days? Everyone I know is constantly stressing about the possibility of being cut. This seems to be our new reality, which is neither good nor healthy. I remember a time when job security was a thing here. I wonder if we'll ever again be able to have that.

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Post ID: @OP+1aPT0fJZ

14 replies (most recent on top)

I guarantee you that there will be those crying crocodile tears on here later this year because they got RIF'd and didn't take the VBO.

Happened last time, too!

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Post ID: @pqim+1aPT0fJZ

I also know many who didn’t take last VBO.....and were whacked before year end.

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Post ID: @pnej+1aPT0fJZ

There is definitely trolling going on via this page. Probably a younger underperforming person who thinks this VBO is going to save them. I don't think anyone is d-mb enough to make a major life decision because some anonymous person on this page told them to take the VBO.

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Post ID: @cqzb+1aPT0fJZ

You know not what you speak as Fidelity is making more money than ever. You are just a troll or someone who was let go for poor performance. I know many who didn’t take last VBO and moved upward and it will be the same this time.

Share price just announced healthy as ever and if you get shares doesn’t take long before you are better off for having stayed at Fidelity.

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Post ID: @bwat+1aPT0fJZ

Volumes are through the roof, BUT margins are thinning as technology has commoditized many Fidelity offerings. So it's not the same old Fidelity. They are looking at salaries across the board and going younger. You WILL eventually be RIFFED if you do NOT take this VBO. That's just the reality!

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Post ID: @bmwy+1aPT0fJZ

Just because they are always hiring on the phones does not make other groups safe. You can be a really good employee and just get caught in the wrong group at the wrong time.

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Post ID: @acwz+1aPT0fJZ

V does stand for voluntary, in theory. However, I will be curious to know how many that didn't take it are still employed by Fidelity at the end of the year.

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Post ID: @amug+1aPT0fJZ

In case you didn’t know the V in VBO stands for voluntary. The VBO offers a very generous way to retire for older long tenured employees if they want it. Besides that yes Fidelity has had a few small layoffs but they are very small in the scope of things. Right now Fidelity is hiring as quickly as they can because they can’t keep up with the growing business.

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Post ID: @ajou+1aPT0fJZ

Post ID: @lqi+1aPT0fJZ - “ Can you imagine if you worked at TD or Schwab? Fidelity rarely has lay offs and when they do are very generous.”

You are either

  1. a troll
  2. a shill
  3. a brain dead id--t

I’m going with “All of the above.” Fido is well known for it’s bs RIFs, er, i mean, “restructuring,” or VBOs. It’s a joke. Everyone knows it, but you, apparently.

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Post ID: @afqi+1aPT0fJZ

I agree with the unhealthy comment. There have been time during RIFs that I have been at my desk shaking in fear of getting called in to the HR room of doom. I also agree with the comment that they are generous with their severance packages. Fido keeps their RIFs small so they stay out of the news and it does not hurt their rep.

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Post ID: @1slk+1aPT0fJZ

This is not a new reality. It has always need reality. Businesses lay people off. However unless it is part of a public VBO like the recent one, don’t expect to be treated well. For the person who said Fidelity rarely lays people off, you are sheltered.

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Post ID: @1ald+1aPT0fJZ

Fidelity avoids layoffs by "managing people out".

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Post ID: @kzq+1aPT0fJZ

There's never been job security at Fido.

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Post ID: @sel+1aPT0fJZ

Can you imagine if you worked at TD or Schwab? Fidelity rarely has lay offs and when they do are very generous.

Get off this site and go work and you will be fine.

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Post ID: @lqi+1aPT0fJZ

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