Thread regarding Fidelity Investments layoffs

If you are mandating RTO pay your employees more

Former employee here who just recently jumped ship due to the shaky RTO mandates. It’s totally unprofessional to keep people in the dark until you as a company finally work out what you want to do. Believe it or not, people aren’t just a number on a screen, and the uncertainty when regarding RTO does not instill confidence in me which is why I had to jump ship this past week. Also if you are mandating people to drive into the office more, when will you update the compensation for that? As fid employees you already make a lot less than industry standards especially those in roles that are client facing. For a financial company to what their employees to ignore the financial hardship most Americans face and su-k it up to add another bill in their already stressed lives is insane and cruel at best.

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Post ID: @OP+1u33pofz

11 replies (most recent on top)

The question is did you get paid LESS to WFH??? I am dreading going back to the office 50% of the time, but to say that they have to pay us more to come in is ridiculous.

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Post ID: @9lep+1u33pofz

Homer J, you have me laughing at my own damn autocorrect so hard my dog is concerned

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Post ID: @5mlc+1u33pofz

OP, the sooner you realize you are just a number on a spreadsheet the better off you will be.

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Post ID: @4eha+1u33pofz

Oat barley creep up will mean an increase in the price of beer.

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Post ID: @4rkx+1u33pofz

To the second commenter: heard of inflation?? Oat barley might creep up, inflation is outrageously outpacing that. If we could save years ago on our salaries I’d have depending money, now we can’t make ends meet endlessly. No point. It’s not the same as before the pandemic. What a weak argument.

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Post ID: @4qah+1u33pofz

I was a full time WFH software engineer for many years prior to Covid. I had VP level approval to do so. I put in extra time, produced quality work and was the tech lead for our dispersed squad.
After Covid, my WFH was denied. I towed the line for the 1 week RTO, but it was a waste of my time and money to spend 3 hours on the road in addition to 8 hours sitting in a cube all day doing the same job I did from home.
I was miserable, my productivity reduced, no VBO in sight and I eventually just gave up and retired early as I knew I could never do 2 weeks in office a month.
I honestly think this was simply a way for Fidelity to reduce headcount of long time employees. They want a reset with younger employees and are cracking the whip on them. Happy to hear that some are fighting back.

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Post ID: @1mgc+1u33pofz

You need to learn to negotiate, first position is f you, I quit. Management freaks out when this is method is applied.
Then management will come up with wait, we can make an exception for you but don’t tell anyone. Unlike most, I have worked remotely since long be for the sars-2 outbreak/panic. VPs hate it, think playing on coach watching Netflix or YouTube. When you show them your 10x more productive than coworkers they get that glasses eyed look.
People, you were looking for a job when you found this one, never stop looking.

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Post ID: @dym+1u33pofz

When I worked at this dump of a company I had to be in my seat at 8:30am 5 days a week with the odd wfh day here and there which was only by request. My paternity leave was 2 weeks even though my wife had an additional surgery and needed me at home and couldn't even pick our newborn up. My boss could care less and demanded I come back. Lunch, commute, parking, was all out of pocket. 2 kids in full time day care, all out of pocket. You had your 4 years of sc--wing around with your kids in your lap on their 2 zoom calls a day complaining how hard it was to be a working parent. I get that it feels like you're giving something back by having to go into the office part-time but the world was a lot different in the not very distant past. I don't get the entitlement since everyone there is easily replaced.

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Post ID: @ndy+1u33pofz

Why were people not paying for daycare when wfh?? If your kids are not of school age, they’re not old enough to go unsupervised while you’re working.

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Post ID: @opc+1u33pofz

The thing is, Fidelity paid this way before the pandemic and we had to go into the office every day or pretty much. Then we enjoyed 4.5 years of being at home from 100% to a mandated 25%. Now it’s going to 50% (if you want a job lol).

All during those 4.5 years our pay has been going up incrementally but our need to spend money on gas, work clothes, lunches out, etc. was nonexistent to pretty minimal.

I don’t like being forced to be in the office again either, but I don’t think your financial argument is sound. Congratulations on jumping ship though.

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Post ID: @bir+1u33pofz

I think it’s important to keep in mind that most in-office workers receive a 25-30% pay raise to accommodate the bill that is returning to office. Which is what we should start calling this, another bill. Another bill for gas, food, if you have children potentially daycare etc. With the country being gripped by inflation the steps this company are taking baffle me. Most of the elite level talent on my team got fired or left due to WFH exceptions being denied, and replaced with outsourced employees in India. How is this sustainable long term?

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Post ID: @bbe+1u33pofz

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