Thread regarding Fidelity Investments layoffs

@j9 agree things were better when KM was here. From what I’ve gathered through conversations with folks, this is primarily tech relocating, not any phone roles. Traditionally technology are the ones impacted by these moves as “co-location” ebbs and flows.

I could be wrong, but I’ve never heard of phone roles needing to co-locate, buuut, I could be wrong, especially with our regional center satellite folks…

Just from what I am hearing and reading on this board about the relocation requests it sounds like a lot of disorganization or an attempt to have people resign on their own. I have been with Fidelity for a little over a decade and I can tell you the culture has changed a lot since the rotation of senior management from the Kathy Murphy days. As someone that has been in the financial industry for a number of years this is becoming a churn and burn culture rapidly which is what used to set Fidelity apart. Abby's lofty goal of standards of care is going to fall short when internally a high pressure churn and burn sales culture is increasing. Associates are already chucking wood which benefits no one especially the client. Happy employees make quality employees, stressed out unhappy employees make uncaring employees. Forcing people to relocate or resign at that point you might as well just let them go as having a disgruntled employee keeping a position in a relocated area will not be positive. If they approached me about it, Abby would need to break out the check book because I've been around long enough to know the whole company loyalty thing went out in the 1980's. They don't care about you and once you know that it makes the standards of care a joke.

It is a joke. At will employment dictates that your company can fire you at any time for any reason. I would never ever relocate for a job unless: 1. It came with a contractual guarantee of at least 2 years of employment or 2 years of pay up front and 2. I actually wanted to relocate to that place anyway. Other than that, I'd polish up the resume.

@c2 OP here, I was in wealth tech

FL associates are mostly phones right?

I'm sorry this has happened to you, but I can believe it. I would definitely make a lot of noise even if you can't win anything through the legal system. What at a $hitty he-l hole its become.

Favouritism is deep rooted in fidelity culture.

I cannot agree more as I have seen so many of these "permanent remote exception" who never show up in the office.

The HR protects these permanent WFH exception associates while playing fu--ing musical chair with individuals who follow all the protocols, come into the office everyday by moving their positions.

Some of the associates I spoke were asked to relocate / move to or have had their positions moved to:

1. Boston from Smithfield
2. Smithfield to NC
3. Westlake to NC
4. Covington to Boston
5. Boston to MMK
6. MMK to Westlake

I could not agree more whoever is making these ridiculous decisions should burn in he-l for eternity.

What level are you? Were you remote in Florida or is there an office there? Also, are you at the high end of salary for your level? I wonder if that plays into it.