Thread regarding Fidelity Investments layoffs

Demotions

So guess they demoted some grade 8’s to grade 7’s. I had not heard about this but did notice a couple of the people I worked with start missing calls and being angry all the time. Not sure demoting someone a grade and asking them to do the same job is a good strategy.

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Post ID: @OP+1js9pexcx

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This is another way of avoiding layoffs, the only things that will change in the regrading are titles and less bonus money. Monthly pay will not change. It's a win for everyone unless they are stuck on their title.

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Post ID: @mq+1js9pexcx

Can someone explain to me how did we manage without architects the last 30 years ? This great company thrived all these years without architects and glorified titles that do not contribute to the overall goal of the company which is modernizing our applications.

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Post ID: @fy+1js9pexcx

cut any grade 8 VPs who don’t have many reports. What are they actually doing? VPs reporting to VPs. Don’t cut the people actually doing the work.

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Post ID: @c1+1js9pexcx

Alright, so the plan is to bump all GCLs, SLs, VPs, and Architects down to Grade 7 or 6. Most of the GCLs should probably land in G-7.

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Post ID: @ag+1js9pexcx

It’s just another way of showing the door.

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Post ID: @ac+1js9pexcx

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