Thread regarding Fidelity Investments layoffs

We don’t have any leverage as employees

Surveys, questions, complaints, they all lead nowhere. They don’t care, because we have no leverage whatsoever. The current culture and corporate goals don’t value skilled or satisfied employees, and they certainly don’t prioritize retention. You can be cut, replaced by someone cheaper, or have your job offshored at any moment. There’s no long-term vision, only short-term profits matter. We’re the least important and most disposable line items in the budget.

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Post ID: @OP+1jyfdc0j7

9 replies (most recent on top)

Looks like you should quit. I don't see any solutions just whinning.

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Post ID: @zt+1jyfdc0j7

You don't have any leverage.
It's a privately owned family run business.
You're not going to unionize.

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Post ID: @jr+1jyfdc0j7

I’ve been with Fidelity for just a few years and have had three promotions and lead more than a dozen associates.

I don’t want a union for old “got my seniority” white men to slow my roll.

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Post ID: @hg+1jyfdc0j7

That’s why you should have a union, less than first out.
If you all get together on this and vote, it through this would not be happening, cutting in discriminately.

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Post ID: @ff+1jyfdc0j7

No leverage?? Use ya brain!

Why would Schwab, fid and vanguard have regional centers in all the same cities? Why do they beg us to not take off certain days or use flex?

Almost like we have niche licenses and work in generally undesirable positions for the licenses we have in a call center and these companies could collude to keep talent in the same city at lower wages. How could employees leverage this weakness?

A union! If all the service workers were to collectively bargain fid would have no choice since we run the company day to day on proprietary fintech software that takes months of training and special licenses to use.

But there’s too many knuckle draggers at fid that generally don’t understand the power of collective bargaining especially in an industry like ours.

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Post ID: @es+1jyfdc0j7

Trimming the fat is necessary for any healthy organization, profitable ones nonetheless. Watching my boss doing nothing but taking home a bigger paycheck is not good to my morale and motivation.

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Post ID: @cy+1jyfdc0j7

It's crazy, when I started working there years ago(not there anymore), they told us that the company could survive 40+ years without making another dollar. I was surprised they started laying off like every other big company. So much unnecessary greed.

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Post ID: @cp+1jyfdc0j7

union?

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Post ID: @b7+1jyfdc0j7

Management doesn’t value the intelligent, talented, effective, efficient employees but the business will pay the price as those workers are forced out and replaced with cheaper people or AI. Just look around at all the examples of exactly that happening.

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Post ID: @af+1jyfdc0j7

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