Based on LinkedIn feed, all white, all male, with a few exceptions.
19 replies (most recent on top)
The VBO was a kiss in the mail if you still have marketable skills. I took it, left June 30th, took a couple of weeks off and started having informational interviews with other companies. There are a sh--e ton of jobs out there folks. You just have to find the one that is the 'right fit' for your needs. I plan to double dip for as long as I can!
Think VBO skewed negatively for diversity and also younger next generation execs who qualified. Reverse of what was needed / desired - most Sr exec team remains old, white, male after 8 year tenure of CEO.
I'm in the same spot. I took the VBO but I will find something 40 or less hours and has to be WAY less stress or I will walk right out of there.
I am 54 and have 1 in college, i took the VBO. If you save and understand the concept of budgeting, you can do it. If you want to live like you are making 250k a year, it may not work, unless you saved a sh-t ton. I will probably do something else, but not at the stress level or pace i was at Fidelity. The last 12 months, with Covid, sucked. It also showed that our managers suck, even worse.
The company may have “emerged” as the industry leader, and the stress is on ‘emerged’, but this is about the last 30 years of wealth going to white male, and on top of it, they get rewarded for their dismal performance.
Look at the website, managed until recently by a guy who didn’t know how to turn the computer on. He moved between well-paid positions without adding any value to it.
If you take a look at your career development materials, your options are not the same like those of the leadership guys.
Access to time-off, benefits, your sanity, it is all different. It’s a caste system.
Phauk off with this boulsheet post! Fido is going straight down the sheetter. Rotting from the inside. Can't get sheeite done due to all the bureaucracy! Fork me!
One important statistical flaw to note about Fidelity's D&I Report released earlier this year. It does NOT reflect the diversity of the GLOBAL population of Fidelity employees. They left off 6,700 India employees and about 400 China employees. The D&I crowd only focused on the US population of employees to make the company appear more white! That may be footnoted somewhere in the report BUT the D&I crowd did not make it explicit when they were backslapping each other and promoting their 'milestone'. Seems a bit disingenuous.
Not everyone is on LinkedIn, I saw +25% Female VBOer's at the Campus send off, using the word "All" is deceptive. The company has emerged as an Industry leader from all their hard work and effort over the years. We have many talented people who know how to save and invest and will live off the rewards from a generous 401K benefit. We have hired the best and brightest and this package is a perfect sendoff for many. And are you really surfing LinkedIn analyzing employee data bases or do you just have alot of idle time on your hands?
34 years I was around, and I’m not wrong. I weep for the future of those who were offered, but didn’t take the BO.
The VBO was a great package that was too generous to pass up.
Most of the Execs in the company are white and have long tenure so it shouldn’t be a shock that white males are the ones to take the package.
The firm published their first DI report earlier in the year….read it and you will know why VBO was introduced.
You are wrong. Don't know how long you have been around but the severance package Fidelity gives during a RIF is very generous. They do not have to do anything but they do much better than most companies.
There is no layoff package, if you didn't take the VBO and then get whacked.
So, if faced with that choice, the VBO isn't voluntary, unless you are a fool.
But, keep drinking the green Kool-Aid. You'll all be fine.
Here's the risk: those who didn't take the VBO are already 'on a list'. They are next to go if the economy takes a downturn and Fido has to enact layoffs. The downside is the layoff package won't be as generous as a VBO package. They 'dripped' out 450 people (who passed on the 2017 VBO offer) during 2018 through end of 2020. I just missed qualifying for VBO this time, but will have to think hard about it if they offer another one in the future.
I will believe it's ageism only if there is a layoff and those that did not take the VBO are let go in the layoff.
But if you are 54 with 2 kids in college you didn’t have to take it. The V in VBO is for voluntary.
If you were 57 and the 2 kids graduated and you have been at Fidelity 25 plus years it was a gift.
Let's not kid ourselves, the VBO was veiled ageism at it's worst. If you were 54 with 2 kids in college, would you be ready to retire? I think not. Do you know how hard if will be to find work of equal pay at age 54? I think not.
What's your point?
Those are the people with that many years of service for the most part. So what? It’s about letting people ready to retire do so with nice kicker and opening more spots for younger workers. With US being half minority nation it’s natural those coming up will be more diverse.
smart folks