Thread regarding Fidelity Investments layoffs

A lot of grade 8 and architects were already let go "silently" when Enterprise got not.

Sales roles usually outperform non sales roles. They’ll even make more than their leaders/managers, or whatever we decide to call them these days. I’ve seen this across many companies and industries. Not saying this is right, but has always been the case.

It's deeply frustrating to see that upper management seems willing to make employees relocate across the country rather than address persistent management issues. During COVID, Fidelity had an ideal balance, happy customers and happy employees. But things have shifted dramatically. Now, morale is low and many of our strongest team members are preparing to leave, not because they are being laid off, but because the environment has become unsustainable. It feels like leadership is pushing valuable knowledge and experience right out the door.

you realize we have tech salaries, we have phone rep salaries and we have commission type salaries and tech is not the top dog? Sales related roles are making in 2-5 years what tech does in 20+. there are way more of them than there are tech roles with that seniority. so now our mediocre mid-level management intact is not consuming an inordinate amount of resources.
The time that they waste of everybody under them though that is the story to look at

I believe at least in wealth and brokerage the GCL were converted to "Delivery lead" and "Platform lead"

Removing the roles or individuals will not be long term solutions.

We all agree, bulk of work is being done. H level 4, 5, 6 and 7

Majority of level 4,5,6 are better as individual contributors and can't work in leadership roles, due to whatever limitations.

And level 7 individuals most times are focused on impact roles, so at least in wealth / Brokerage they have limited opportunities for growth.