Does anyone have any real information if there will be a layoff? I checked the WARN sites for most of the states with regional centers and there aren’t any announcements.
9 replies (most recent on top)
@OP from my research, Fidelity has only done an official WARN once. They definitely have done a lot of lay offs though
@ae not sure the basis of your knowledge, or if it’s just speculation, but are you suggesting all of these roles will be gone, or just that this roles will be most impacted. They have been saying for months that the people in these roles are just getting new titles and job descriptions.
Oh yeah, fidelity would never affect their reputation like that. So silent layoffs, contractors, and staying under state thresholds it is, for whatever time period until they can do more.
@ef idk for sure but this seems way way bigger than 2024. They literally can’t have eveyone come back to Westlake and North Carolina without doing mass layoffs. Numbers that would need to trigger warn.
But then again, as someone else said, that paying out severance bypasses the need for WARN alert I guess.
@aa WARN notices are only posted when specific thresholds are passed in a single state. Meaning that if you layoff 1000 people but they are spread across multiple states and by title the numbers are below the triggers then there is no announcement.
2024 a bunch of Scrum Masters were layoff - but it was a mix of Full Time and Contractors (Contractors don’t count for WARN) and full time were spread across multiple states in small numbers. Company wide it was huge but localized it was below the WARN trigger. This will be the same.
The roles are across the board. Squad Leaders, Chapter Leaders, Product Area Leaders, Group Squad Leaders, Group Chapter Leaders, (some) Scrum Masters, Non-Delivery “analysts”, Developers, and VP+ roles that are individual contributors.
All BUs are affected. All BUs will be realigning work to new priorities - which means that just because teams are busy doesn’t mean that the work is important going forward. There is a big issue with teams inventing busy work that has questionable value for the firm.
Apparently if you give severance then you don’t need to publish on warn.
Fidelity was never listed on WARN in 2024 when there was a smaller layoff. I checked all of the states with call centers numerous times. I doubt they'd show up this time around either
For the past layoffs, did the WARN numbers get updated? Does someone remember it from last night?
I checked yesterday and didn’t see anything either.