Thread regarding Fidelity Investments layoffs

The whole relocation push is just an attrition tactic

Who in their right mind would relocate for work these days? First of all, relocation is extremely expensive. We all know rent and the cost of services have skyrocketed. Pay hasn’t kept up - uprooting your entire family just isn’t worth it anymore.

And even if you go through with that costly, disruptive move, there’s no guarantee your job will be safe. A round of layoffs or a reorg could wipe it out just like that.

They’re just hoping most of us will quit so they can get rid of us without paying severance.

by Anonymous
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Post ID: @OP+1jw6y80f4
Comment! It's anonymous!

3 replies (most recent on top)

Everyone knows it's an attrition tactic, yet Fido is getting away with it for past 3 years.

In the name of realignment, restructuring, reorganize cr-p, Fido has been ingesting the poison of stress, anxiety, uncertainty among associates, with no one seemed adamant at stopping them.

With each new update, it's another flash call about:

  1. Team change
  2. Role change
  3. RTO mandate
  4. New leader memo

Upcoming new leaders in Wealth and brokerage are not going to give any respite whatsoever, which is the unfortunate part.

Everyone knows they're doing the wrong thing, including the ones doing it.

At this point they DON'T GIVE A DAMN

by sick
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Post ID: @b2+1jw6y80f4

Relocation is an indirect way of giving preferential treatment to single guys like myself who can more easily move for opportunity than employees with families. For one reason or another, if they are looking for attrition, seems to be they are foolishly selecting for individuals who have no roots and aren't known for being the most loyal to a company. In short, opportunists.

by Anonymous
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Post ID: @ap+1jw6y80f4

Who has been asked to relocate?

by Anonymous
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Post ID: @a3+1jw6y80f4

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