Thread regarding Fidelity Investments layoffs

An answer to the earlier inquiry about Scrum Master salary

TLDR: me, another person on this site, ranting about Fidelity’s agile, and my potentially useless prediction.

If they’re cutting agile roles, then I hate to say it but they’re cutting in the right place. Frankly, they should have laid them off last year.

I used to want to position myself into an agile role myself. Frankly, as a tech person, I was lazy, and decided to try to weasel my way into an easier role. Eventually, I fell in love with the art of software engineering, so I’m not gonna transfer into Agile. Plus, I’ve met (countless) scrum masters and agile coaches in and out of Fidelity who told me that it’s not a good time to be in the craft.

Frankly, Agile just isn’t done right in so many roles. There’s not enough actually good scrum masters out there. Fidelity is also not a good place for agilists to grow. The way Fidelity is set up, there are many non scrum masters that play as the scrum master. You have scrum masters in Fidelity who glorify things like “it’s a made up job”, and “I just do this to get the easiest way into management”. That culture is rampant especially in FI. You don’t need a scrum master unless the scrum master is damn good at their job, and we’re gonna need those that operate about higher than Fidelity’s EP standards.

It’s just the way Fidelity is. Fidelity isn’t doing agile. They’re doing their Fidelity Fragile. Which, hasn’t worked. Fidelity in 2025 is about networking to the top. Scrum masters are a program dedicated to networking to the top. Respectfully, the way Fidelity does scrum is to have the scrum masters be the ones that the upper management blame and speak with when things go awry. The scrum masters report to those higher up people. They’re viewed by Fidelity as Fidelity figure heads. It’s disrespectful to those who are actually good at their jobs.

My prediction is that a good chunk of scrum masters will definitely be laid off. Potentially, 1/3. I don’t have someone high in ranking “in the know” like many anonymous people on this website claim they have. I just have my experience in tech and my experience with how Fidelity mucks things up. I could be wrong. I hope I am wrong.

This is the rest of my prediction. A few months after the layoff, remaining scrum masters will be reorganized to manage more teams. Usually, they manage up to 2 teams. That’s just how it’s supposed to be in agile anywhere. But knowing Fidelity, they might try to extend that to 3 or 4. Upper management will realize that many don’t really have any real functionality outside of hanging out all day (not an agile fault, it’s a Fidelity fault), so they’ll pile more teams on the surviving agilists to manage. Job opportunities for agility is scarce, so the remaining scrum masters will stay at Fidelity. The good 1% (not even the good 5%) will leave for better opportunity elsewhere. The remaining will probably not have much hope outside of Fidelity. Unless they want to uproot their lives. Many have been in tech as software engineers in the past, but once you cross that bridge from software engineer to Scrum, you ain’t going back. Which is a shame since some are passionate about code.

I don’t know if I’d be happy to be proven right or wrong by this. If you’re gonna lay off the scrum masters, I mean… majority of them deserve it, many are lazy, have no motive other than themselves, and capitalize off Fidelity. Those scrum masters should be out, rather than other positions that don’t obviously offer no value. But then, you could lay off the good scrum masters that make people realize why they’re useful. And that would be sad. But then again, that’s Fidelity’s culture anyway. And Fidelity will still survive since the company is a historic cash cow.

I’m genuinely sorry to passionate scrum masters at Fidelity that you’re in this position. None of this was meant to disrespect YOU. You don’t deserve to be dealing with these other people who do not appreciate you. When I was researching becoming a scrum master for the wrong reasons, I talked with 10 scrum masters/agile coaches. There were only 2 that were actually passionate about agile. That’s just my personal experience, but you may see something different. As for the scrum masters that don’t add ANY value and are only jaded to get a paycheck, please just add some value. They probably won’t take my request seriously. They’ll sit around being like “hi team, look at this chart I made of your guys work, it has a squiggly line that shows how many stories you finish, so now I can make money, derp”.

Thank you for reading. I’d be happily proven wrong, and like to hear back from other people. Especially people who have seen how agile unfolded at Fidelity over the years, and (good) agilists at Fidelity themselves.


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| 1731 views | | 4 replies (last November 6) | Reply
Post ID: @OP+1k96csrv4

4 replies (most recent on top)

@cd While true, we need something to get us out of the waterfalls. Unfortunately, Agile isn't.

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Post ID: @kg+1k96csrv4

"There’s not enough actually good scrum masters out there."

Exactly.

The problem is not agile or the sc-m model.

The problem is that for the model to work, it requires competence in applying it.

Fidelity HR thought letting a horde of people who took a half-day course in "scrum certification" would actually gain that competence. For some people, that and a little experience is all it takes. But those are exceptional: most people will su-k at agile and will do nothing but host meetings, use buzzwords, and focus on the one thing they think is required for their job security: agile metrics. And those are easy to manipulate. Ok so what do we do? Hire another layer of scrum master, this time called "agile coach." And assume that will help things.... Yea, that's assuming the agile coach is actually competent and not a scrum master that climbed higher on the ladder through manipulating metrics, or annoying teams so much they were happy to see them move onto another role.

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Post ID: @gz+1k96csrv4

Well, if you know as much as you claim.... you would know that scrum masters aren't there to 'manage' anyone. The team is supposed to self organize and the scrum master is there to coach, facilitate and guide the team towards agile best practices. I do agree that at Fidelity scrum/agile is not implemented as it is intended. I know first hand in PI there are squads that have performed very well since its adoption and the business and tech partnership has improved as a result of the better understanding of prioritization of work and delivering in small increments. The disrespect for people in this role on this site has been disappointing. What I've observed is there is a lot of ignorance with what the role is about. I will also add, I had observed resistance to the transparency and accountability when agile was introduced. I was resistant to the new way of working because I felt if it wasn't broke don't fix it, but with the change I saw that people took more ownership and worked as a team when we had more agency on how we chose to structure how the work got done. While I always suspected the decision to adopt agile at Fidelity was a fad, I saw that it could work, even with the lame way Fidelity implemented parts of it. Now if it's true that they are abandoning it all, some talented people will be left in the lurch.

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Post ID: @cd+1k96csrv4

The biggest issue here is that senior leadership will not let scrum masters do their job in a true agile way. I have seen over and over again scrum masters being sidelined, get pushed away, or not invited to key conversations that they just get discouraged and stay in their lane. You’re not wrong in some of your predictions but I believe scrum masters will just become project managers of some form and we get rid of this cluster of an “agile” model. Agile will never work at fidelity no matter how beneficial it could be.

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Post ID: @ae+1k96csrv4

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