Thread regarding Fidelity Investments layoffs

My breaking point was my manager coding my time out of the office as unpaid instead of bereavement for two weeks after I lost two immediate family members within 3 days of each other. Unfortunately this was right before DOL stuff passed in 2017 and I was in a sales position that benefited from rollovers. Because of how she coded it, my lack of being in the seat hurt my performance for that quarter tremendously. She refused to change it.

After this (and many other things I saw through my 6th year) I created a 3 year plan to leave and be self employed. Covid delayed it a year and 4 years to the day of the conversation with my manager, I resigned. Best decision I ever made. Get creative, there’s an awesome world outside of Fido.

Again, it’s great if the fuzzy math makes you feel good. Bty, I took the VBO and did my homework but I did not state that this long term health plan deal was “incredibly”.

Ok thx for the quick reply.

Premium is higher yet total co$t to me is lower ... nevermind less paperwork as my time is worth money and I just don't want to deal with cr-p insurance plans.

All I will "admit" is that this was best for me and I did all the homework with my eyes wide open....

Sorry about your VBO envy.... over and out on this!!!!!

Ok, you finally admit that the premium is higher for the long term health plan. That was the whole point. So it wasn’t that great deal that could not be passed. Sorry, you all got fooled.

"Again, we are talking about premium NOT out of pocket." (what?)

The last I checked both premiums and out of pocket are $MONEY$ out of my pocket?

Anyways.... I like avoiding all the paperwork involved with other carriers. Yes I drank the cool aid...... HPHC cool-aid. They are so easy to deal with I could care less if I am paying more in premiums each month. I will not mention the out of pocket also because we are NOT talking about out of pocket for some strange reason I don't understand.

Again, we are talking about premium NOT out of pocket. You are paying a higher premium on the long term health vs market premiums. Hope you understand this. Obviously there are a lot of people that drank the cool aid of having cheap health insurance till 65. You did not do your homework. Sorry.

If you took the VBO and you were on the HPHC HMO plan you got to flip it into a long term insurance plan. My only out of pocket costs have been $40 or $20 co-pays for each visit meaning I have never had to meet a deductible. This plan is no longer offered to FIDO new hires we could only keep it because we were grandfathered in. Why would I give that up when there is nothing in the open market that compares?

Market insurance allows pre-existing conditions, do your homework and read the policies. The gentleman is correct, you were all fooled that the long health plan was a deal that couldn’t be passed.

Insurance in the market may be cheaper, but only if you don't have any pre-existing conditions.

He is correct, we all got taken as fools thinking the long term insurance was a great deal, I just checked the market premiums and they are cheaper for the same or better coverage.

Again, you got fooled that the long term fidelity plan premium was a great deal but the fact is that market premium is better.

Ok even better then, you can use the RHRP on market insurance...proving my point even further.

You did not do your homework, long term fidelity insurance plan premium wasn’t any better than market rates.

I don't understand not taking the VBO due to insurance. I took the VBO because I had saved enough and the deal on the insurance was incredible. 2 years of insurance at the EE rate then you can go on the long term Fidelity plan which is better than going to the market. Plus you can use the RHRP account to pay when you go to the long term plan.

my breaking point was when they forced us to stay at hotels down the street on installation night so we could be summoned at a moments notice.

My breaking point is more the pressure tactic and bias stuff about return to office. The way it’s presented is making me angry all the time. But yes, keep luring us with snacks and trying to say we need collaboration.

A lot of people don’t take the vibe due to insurance. Sounds like a ho-e that somehow needs to be filled.

Were software development positions affected much by the VBO or are all those positions offshored?

Nope...just hope

Any rumors or true facts of next VBO? :)

Since the VBOs, there are so many people new to Fidelity as well as inexperienced people whom have joined Fidelity and been given positions in which they are not qualified. Fidelity is doing anything to fill empty positions. This leads to those who stayed being left to carry even more of the load under even more stressful conditions. They must also watch newbies and younger employees being given better pay packages while nothing is done for them. Next VBO will impact Fidelity severely.

My breaking point was during an MBR. One of my FCs blamed his lack of production on me right in front of the BOM, ABOM, and RPC. Not one of those three managers did anything about that.

23 yr veteran. I’m at my breaking point. Too much stress and long hours. I didn’t take the VBO due to insurance, but at this point I don’t even care. Not sure I can wait for the next VBO if there is one. Seriously considering retiring so I can get out.

I had countless breaking points but if you can try to hang on for the next VBO. I held on and took it, my life has forever changed for the better. Just try to take a step back, if possible tell your manager the stress is getting to you and you need to reduce your hours/responsibility...whatever is eating at you. Worst case they RIF you, best case they back off and you make it to the VBO. Either way you get out with a package.

VBO

I was stuck just the same. My break-free point was when they offered the VBO last year. I jumped at it and it was life changing for the better. Still getting paid a year latter.