I've seen no mention of layoffs on LinkedIn. Nothing in two weeks. With the thousands let go, why is that? Has Fidelity threatened to pull people's compensation packages if they write about layoffs on social media? How sad.
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The severance agreements have a non-disparagement clause.
I found out about the layoffs from a LinkedIn post the next day. Would not have heard about it otherwise since mgmt is silent about it unless asked.
Nothing in Boston Globe about layoffs.
Was there a payoff?
Love the blanket statements that skills are not transferred and lifers have no networks. I took the VBO after 20 years at Fidelity. I had multiple opportunities based on my network built by experiences and skills I gained at Fidelity. Life goes on and change is inevitable. Best of luck to anyone impacted by layoffs.
If they take the package they can’t even work at a competitor.
Why is it sad?? You sign an agreement that you won’t talk about your severance's. If you ever get let go don’t take the severance and then you can fire away about how horrible it was to work for Fidelity.
I've seen many profiles switched to Open for Work...
Probably the following:
Shock and or Ego: they can’t possibly admit they someone thought they weren’t essential to the work and Fidelity will crumble without them. Wrong.
Clueless: can’t remember their password and and haven’t updated the their resume or Linkedin in years believing they would work there forever. Also wrong.
The lifers have no real network outside of Fidelity. They will have a hard time in an already terrible market getting hired. Add in there’s a difference to being good at your actual job and working at Fidelity. A lot of Fidelity skills won’t transfer to different companies and they know this from experience.
Everyone should expect that a layoff is coming someday, only the well connected at the top get to walk away and retire. For everyone else you either got layed off or haven’t got layed off yet.