A lot of people come work at fidelity because it’s regarded as safe and stable, you can expect to work for years without fear of layoffs. This has changed over the past few years as fidelity conducts layoffs almost every year now.
I will be jumping ship. Might as well go earn more money somewhere else, even if the threat of layoffs is greater than at fidelity.
I sat through a layoff at Fido. It was always those who were perceived as the lowest performing employees according to their arcane measures of how many seconds per call you spent with a customer, how many seconds you spent in between calls not available to take a call, how many seconds you spent on a bathroom break, how accurately you submitted the trading requests you received from customers, how satisfied the surveyed customers were after they spoke with you, your managers perception of your leadership potential, whether you followed policy in correctly identifying customers by getting enough "security" information, etc. A career is about having marketable skills, knowledge and experience not a company.
Former Fidelity employee here. It's been a fact for decades that Fidelity has rolling layoffs. When I joined as a contractor in the early 2000s they had a very big layoff in IT after the 2008 crash. A few more widespread layoffs after. That has been their reputation. This is not new. After 6 years they didn't extend my contract and I left and was hired as a FT employee 7 months later. I took the VBO in 2021 as the timing was right for me. Best advice I can give is don't assume your job is ever stable. Network, keep up your skill set and plan ahead financially and emotionally. Always have a plan on your next step in case it happens. I'm sorry for anyone who got whacked today.
Been laid off twice, after first time swore I'd never be caught flat footed again. always look for the next thing, companies are not your friends, build up a good network of people you trust, that have your back 🙂↕️
NO JOB is ever safe even in good times. I was laid off because my boss was pi---d off at me due to the fact he thought his bonus was reduced due to me. False.
So always be looking for that next job, much like always keep a few months of cash in the bank in a CD or something.
Always be prepared for that day.