We were told that there's a major announcement coming up next week and a bigger cuts to be announced at the end of January.
Focus will be on colocation again,
if you were an Exceptional performer last year you're on the chopping block if you're not in the same location as the rest of your team.
I just asked for and for additional heads. Guess it depends on your role.
Been in the works for a while
Are you able to provide any additional information? I'm thinking of resigning and am located in a different state than the rest of my team. Should I put off resigning in hopes that I get laid off?
@am sVP's are given targets to cut, they cut in the locations where they don't have "yes" people or people who are not in their good books. The cuts doesn't come from HR, only the numbers come from them
It is true and is not new…high performers had been cut when they got expensive, when politics/leadership changes, etc. In the Fidelity of old there was a level of loyalty but back then there was no multi-colored hair, colored glasses, nose rings, dudes wearing ear rings and you had your birth pronoun.
My team is in inda LMAO
Any word on the FI pieces that just joined Wealth having cuts or being relocated out of Smithfield, RI? The 900 bldg is beyond capacity each connect week. No info has been given to my business unit on how the move to Wealth will impact us. Constant uncertainty is super healthy, ugh.
Eliminate the slackers and the expensive middle layers, reward the high performers, Fido not only ends up saving money but put itself in a better trajectory.
Currently the top are mediocre at best, the middle are rotten, and the bottom are demoralized. Sad state for a great business!
The high performer elimination theory is just a myth to discourage others from doing well. Stop it
In the past top performers were let go because they received higher pay in raises and bonuses. Those people were actually cut and people barely doing the job were kept.
Ridiculous but true!
@ae pretty sure they wouldn’t put you out but more like they’d expect your team to come to you
It's pathetic how the HR is dictating policies and location is considered.
If you manage a team, and you are in a totally different location than your team, are you at high risk?
Not sure how "big" the cuts are but there's definitely some blood bath on the horizon.
I don't know why top performers would be on the chopping block though, fidelity is known to take care of those who perform well (even though they feel miserable).
Yes, confirmed.