Thread regarding Fidelity Investments layoffs

You are being targeted

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.

Sorry to say, but @ozbo+1a2BLn8V has a point.

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Post ID: @OP+1asWQ6tC

11 replies (most recent on top)

Fido is absolutely targeting a specific group under Abby's reign for the exit door and what a great time for me as a born-again unicorn-rainbow. Let's get woke ya'll.

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Post ID: @Rblp+1asWQ6tC

I'm taking it but not because some troll on here says they know something. Younger people on here have a lot to gain by trying to get people to take the VBO. Think about that!!

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Post ID: @Hkqj+1asWQ6tC

A senior HR person at Fidelity put it this way: If you got the VBO offer, you have effectively been put on the Fidelity layoff list. The firm is prepared to move forward if all 6700 people took the offer. You can take their generous VBO package OR stay on, roll the dice, and then accept their standard layoff package when you ultimately get laid off in the future. Either way, you are getting laid off at some point! Think about that!!

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Post ID: @Fhiw+1asWQ6tC

@Ned is out, agree. They will get this group out one way or another, it is all about the cash but D&I is their added bonus to dropping this group. They will just mix in a few younger under-performing people to hide it. I have no idea when but it will happen.

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Post ID: @Adlb+1asWQ6tC

Let's not kid ourselves folks. Corporate HR has definitive targets with this VBO. It's all about bottom line and D&I under Abby's regime. If they don't hit the target, they will layoff those on the list in small batches over the next couple of years. And those folks will NOT get any type of VBO bonus.

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Post ID: @Awhe+1asWQ6tC

I'm taking it but it does not surprise me that some that pass on it will get cut soon. Crazy thing is that those who got a 9/30 or 12/31 VBO date could still be working there while those that passed on the VBO could be cut and gone before them. What a strange situation that would create within a team.

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Post ID: @wjkb+1asWQ6tC

I spoke to a trusted friend in HR yesterday. If you are on the fence about the VBO, TAKE IT! They will be laying off those who didn't take it "in drips" over the next 12-18 months. This will keep it out of the media spotlight. Think about how well you will sleep knowing you could have taken the VBO and all it's benefits!!

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Post ID: @vxfo+1asWQ6tC

This may be true but if you do the math and assume the company will be generous in a layoff then I only need to survive around 9 months to come out ahead. For those under 55 with shares staying employed past Jan 1 of 2022 makes it worth staying.

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Post ID: @nbty+1asWQ6tC

Age and money plays a huge part in this I’ve been RIF’d twice by this company and I am taking the VBO. they can twist the age. It’s what group you are in and location. They can eliminate a group and then replace it somewhere else and call it something else. When they RIF you if there is an age consideration they will give you a list of ages that are part of the elimination. They are also allowed to replace the person after a year. Don’t fool yourself that they care about you. Profit is the bottom line.

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Post ID: @mnal+1asWQ6tC

Ageism is not only excluded from D&I offences, it is encouraged.

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Post ID: @1uqn+1asWQ6tC

I agree that history is repeating it self but if you think people 55+ will be the targets you are not aware of age discrimination laws.

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Post ID: @1fur+1asWQ6tC

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