Thread regarding Fidelity Investments layoffs

I’d would have taken even less than was offered just to be done there.
Line up a job that pays more, it’s all gravy.

Can someone please confirm if they did stick to 2 weeks of pay per year of tenure? Or were there any exceptions?

@e3 Totally agree. For G7s and G8s, the package is not attractive at all, and the irony is that most people don’t fully understand what they actually got. The severance should have included the bonus and shares on a prorated basis for the severance period, and not only for Jan to May months which people have already worked for. They say its not about money, but eventually it comes down to that.

It’s all mind games ,intentionally structured to sound and feel generous which it’s not , especially for Grade 7 and above where the base salary typically represents only about one-third of total comp. base here is much lower than market . The remaining is variable compensation (bonuses and shares , annual profit in 401k) . So even if you get 6 - 9 months of severance, it effectively equates to only about three months of total compensation as severance is only base salary

Other companies out there give far better severence, the severence given here was a pittance was employees with tenure less than 5 years. Vesting cut out, shares not given, fidelity A0's lining up their pockets as usual... ( the more downvotes the more A0's on this site, wanna make the forbe's list)... Healthcare 103% you have to pay, immediately from COBRA unlike any of the companies out there, bottomline sc-mbags

Honestly dude just ask a buddy that got laid off or a manager you’re tight with. It’s not secret but I don’t want to blast that info on a public site. I felt like I was given generous severance so I just signed it and moved on with my life. If you weren’t affected it doesn’t pertain to you so just keep doing your own job at the firm. Most of this info is already out on this site anyways.