Fidelity keeps hiring, but at some point someone will realize they hired too many! When do you think the next round of layoffs might happen? I'm not talking about a few here and there, but enterprise-wide layoff? Also, with the voluntary retirement buy-outs, I think those are every three years and the next one would be 2023, right?
At some point, the economy is going to tank and force layoffs.
Experiences, insights?
They are adding 900 more jobs in Kentucky
Very very soon. Second Tuesday of the month. Especially if you are not working for the DAI group. Special.
soon..I'm guessing
if the sp500 moves back 40% you will see reductions, this occurred n 2008/2009. a lot of fidelity revenue metrics is based on market performance metrics.
June 2022.
Many VPs reporting to VPs today because they eliminated many SVP roles and backfilled them with... VPs. As I've heard, why pay SVP rates, when you can put an internal VP in there for much MUCH less $$$.
A couple years ago, there was an effort to reduce the layers and now it seems we have vp's managing vp's again, svp's managing svp's.
How can their roles justify a ROI? The answer, they can't.
A job action will happen sooner than most think.
When this happens is hard to predict. It will happen though. Organizations are massively bloated. When things slow down because of bloat, people think its because they don't have enough people working on a problem, throw in more people and hope that fixes it. Fidelity is in a dire need of deep clean. From the very top to the bottom. Someday someone Mckinsey will come in and say the same and then it will happen. But even then, L1/L2 will be safe - so the problem will perpetuate soon.
I have come to the conclusion that Fidelity's prime is past. And since most people 'in charge' are in it to extract as much personal value out of it, it will not change and re-invent for the better.
Tomorrow
4 years from now.
Fidelity is constantly rolling over the workplace on the down low. They pick off 30-50 folks each quarter. Spread out so it seems light in the areas impacted. Tenure, race, he/she, $, job value are all thrown in the pot. I agree soon they will lay-off 5% in the next year. In addition to the constant layoffs. Also, if you are a manager....be careful to what extent u go to trying to protect your employees. I had 2 woman who worked for me get harassed by these two fat bald guys. I had to go to HR. HR went behind my back to see if I was telling the truth. My career was never the same.