Thread regarding Fidelity Investments layoffs

Blaming everything on DEI is a tired, lazy excuse for your underachieving.
If you are a white male, then you’ve been given every advantage. You are at fault, not DEI.

You can't lead with Y'all and expect to be taken seriously, unless you are addressing the kinfolk, whilst gathered round' eatin' vittles.

Stupidest comment ever. Stupid and narcissistic.

@ab interesting. Mine was a separation plan aka getting rid of the older person and giving the job to an interim. J Perdue

@bg you’re right, it just happened to me.

HR is mostly in NC, could be legit.

I stop reading when addressed by Y'all

As part of the restructuring one of the key decisions the chapter leads are tasked with is to eliminate "experienced team members".

What does above mean? Plan to layoff experienced team members or not???

DEI is literally sinking this ship. All the managers hired during covid are cr-p. They’re also bad managers because they hired people who never had authority so the new managers are having a power struggle. I don’t think they all need let go, but there definitely needed to be a huge rollback to their old roles.

Managers were gifted top preforming teams and have crashed and burned. The whole team isn’t bad, the manager failed and needs to be removed

Just swipe the badge. It’s literally the most important thing for you to do in your entire life.

Maybe they’ll cut 800 roles this time instead of 700

How have you survived so long?

Will H1-B visa holders get a preferential treatment in the rumored cut? In time of RIF, will Fido remember it's an American company after all?

Blaming everything on DEI is classic entitled behavior.

If the don't release the DEI management chain, then people are going to flip.

Last year they laid off more than 700 people in the productive areas of the company while the DEI folks, which contain more than their fair share of VPS and Directors, were untouched.

Looking around at other companies, everyone else is firing their DEI-centric people. That is, people whose full-time jobs are DEI.

They need to GO.

700 employees is less than 1% of the employees. No, I’m not worried about a cut if it’s only 700 people.

Why do you say it will be grades 3-6 only? A lot of folks laid off last March and since then have been 7, 8, or 9.

There have been several posts on here about people understanding layoffs are going to start in April.

Can somebody spell out BME out for me? Keep hearing about it with no clue what it is.

I believe that is what this post is referring to.

To expect wider cuts in April and fall. The post highlights in general "signs" of when the axe is about to hit you.

And to say that it's been happening for a while now is not really an excuse that this time around its not for layoffs.

Would be nice if there was an easier way to reply to individuals in the comments here. My point stands and the responses to my comment speak to the general direction that we’re going, that folks are unable to comprehend nuance and subtleties anymore.
OPs post is nothing new. We’ve been going through widespread “cuts” for a while now. But might be more of a restructuring of the type of person fidelity employs than anything if we’re truly not losing actual numbers.

Regarding the comment "I whole heartedly believe the people inside fidelity would come up with this plan to force someone out. But it’s not going to be seen as a “cut” nor a layoff"

What else would you categories as?

Someone who worked their back off for years building a platform gets suddenly reassigned to other areas while a less deserving individual gets to run the daily show.

This kept happening throughout the last year, via VBO, restructuring BS

What is your A#?

I don't think people are stupid enough to list their BU, department, role while making such posts.

This post is very vague about the supposed widespread cuts coming. Haven’t they already been happening? I mean come on the actual layoff was only a small part of it, even by your own admission. 700 associates laid off when the company has 80,000 is hardly widespread. As for being put on a sinking ship? I whole heartedly believe the people inside fidelity would come up with this plan to force someone out. But it’s not going to be seen as a “cut” nor a layoff. All posts about cuts like this are vague but I think there are many who know there’s truth to it. They just won’t be seen as cuts. It’s all been an effort to reduce headcount, nothing new from this post.