Management in my BU looks mostly upset about having to come back to the office. No one really seems to think there will be layoffs.
It makes me feel better that the leaders are also unhappy about having to come back to the office.
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@a1 let us know when you're cut - then you can update us on how you feel. Maybe you'll drop the 'let em eat cake' attitude then
Heard from two different sources that layoffs are happening this week in the IWMS space, I don't have info about other areas
Obviously, based on this message board and other employment message boards that the increased in postings regarding the return to office email that went out has many upset. I'm sure Fidelity is well aware of the negativity but Fidelity wants to return to the past rather than embracing the future with the way employees chose to work. One thing nice is Fidelity is giving ample notice so people have a chance to make arrangements for day care or budgeting for increased expenses such as gas and lunches etc. It also gives associates time to decide if Fidelity is the place they want to stay or seek other options. I will say the thing I have noticed is the quality of associates has diminished which to me is another example of how this industry has commoditized investing and financial planning. Follow the script and regurgitate the tried and true investing philosophies and your good to go.
It makes you wonder if there are layoffs or natural attrition if the quality is going to decline further or increase as which level of talent will rotate?
Ok but one person who is a low performer is not a reason to cause panic for the whole company.
There are absolutely layoffs. My spouse is in a managerial role and was told that one of her people is being let go. This was not even her decision. She has a meeting to go over it and the person will be told later this week.
Important to note, as I’ve seen rumors that this is mainly IT related, this is NOT a IT role or a VP/high role that is being laid off. It’s a combination of low performance and high salary.
@a1 be careful what you wish for - no one is immune
@a1 you would feel differently if you are the one getting cut.
Is it bad that I wish there are layoffs?
I can't be the only one who sees the crowded parking garages, constant water cooler attendants, continuous meetings and thinks to themself, "Hmmmm yeah there is way too much bloat around here."