Thread regarding Fidelity Investments layoffs

Best of luck! Next Tuesday.

i heard that A. J. is really a man eating space lizard bent on starting a rhododendron farm in florida.

This is exactly why I don't copy double sided when making copies.

I find October hard to believe for the mere fact that Q4 is when the phone volumes really start picking up due to people taking care of their year end business leading into tax season.

You talked to 2 people on your team? You do realize that no one below Sorensen's level or an SVP or GM would know about layoffs? Especially at such an early stage (if a hypothetical new Oct round were to happen). It's basically fear mongering and people naturally assuming they'll keep cutting jobs.

If there's another round it'll be minimal and impact areas that are far removed from the functions that were impacted today. There's no way they'd cut today and then delay more cuts until 2-3 months later. They would've done it all today. Rest assured.

If October is for real we will be spending a lot of time on this site...

I talked to two folks in my team, both mentioned the October rumor.

Bith of them never heard about this site (where I heard the rumor)

Not looking to sell annuities and PAS for the rest of my life. I appreciate the challenge though

Your speaking to the wrong FC when saying that. I do very well for myself, and have for many years. However, I do feel bad for FCs who lose there job, even if they didn't know what an ETF was. Most of them have been top performers for many years and get let go for having 5-6 quarters where they don't stack well enough to their peers. At the phone there may be 1-2 opens a year and you have to be killing it in a lot of other high pressure groups to even be considered.

If you are speaking from a service role, then you have no idea what it would take to be a FC.

I challenge you to try.

I once had an FC call me an ask me what an ETF was. I don't feel bad for your I'd getting helped out of a job.

Pas will be restructuring, that has already been confirmed.

FC is testing out the Schawb IA model. We will still have changes coming, but that is how Fidelity has always been.

Also, as an FC, we have always had the I ratings helped out of a job. Maybe other groups can enjoy the constant pressure we have.

1) A rumor of Oct layoffs on the very same day as actual layoffs wouldn't happen. It's simply speculation and guessing from people in any functions that either weren't impacted or people hoping for the worst/ thrive on getting a reaction out of people by creating drama.

2) If there is another round in October, it DEFINITELY WILL NOT impact the same functions as today. Like they'd actually have layoffs and then spread rumors of another layoff to the same departments 2-3 months from now? Just wouldn't happen. Impossible. Not logical. Fake. False.

October is the rumored target of when HNW and PAS are consolidating. Convenient timing of year end reviews would make sense for another rif.

Completely false. Wow. The level of stupidity on here is crazy. Anyways, if there was another "layoff" in Oct then they wouldn't hit the same departments again that they hit today otherwise they would've done it all today. It's that simple. If there were another one in Oct, it would be in parts of the firm that have not yet felt any layoffs yet and have been sheltered. Think... the complete opposite of the roles impacted today. But, this is totally bogus and guaranteed FALSE. Lots of disgruntled people posting now. Keep that in mind.

Logic has me thinking this is absurdly false. But fear will likely cause me to worry for a few more months.

Fake rumor. This is the type of person that used to work in a certain department, was forced to apply elsewhere, now works in a different department and is hoping for the worst with wishful thinking and lies that have already been proven wrong. Same person that was saying 7000 layoffs July 11th. Or it's a person that was layed off today. Or it's that person with no life looking to stir the pot because they're either jaded, hate the company, want to scare people, or wish deeply for the worst to happen. We all know those types. Nothing but losers making up lies to scare people and feel better about themselves. Pathetic. Get a life.

So the rapture didn't happen today? The RIF only ended up being a handful of employees? The rumors on the internet have to be right! Let start speculating on the first Tuesday in October. I'm sure at least 8-10k employees will be impacted in a mere 2 months. Get your foil helmets ready now!

Great- 3-4 more months worrying about this after just avoiding this today.

I am hearing the "I" rating are still on the year end agenda. Still a happily employed Fidelity employee.

This may not be a rift, but a more aggressive targeting to be done suggested to them by the higher ups.

Just my 2 cents, I would work on having a good performance year from Q4 16 - Q3 17.

Haven't they already done multiple rifs? They let go of some managers last time then the buyout and right before that it was ops...just saying it could be a slow bleed.

Yes, this is BS. Multiple RIFs cause too many top performers to leave for greener pastures. (Irony intended.) No company is going to drag this along for several more months. If they were already talking about/planning further RIFs they would have done it today.

No organization in their right minds would split layoffs to get employees and possible customer attention to a negative event twice. Just people spreading lies to creat drama.

Stop posting fake rumors that aren't true just to stoke up fear. If you're a former disgruntled employee, move on instead of fear mongering. Get a life.

October is when performance ratings are submitted for end of year reviews. I'm sure this is a correlation.

Do you have more specifics like impacting OTHER parts of the firm or just rehashing the same departments/functions once again? Doesn't make sense to hit the same groups again when they could've done that all today.