Thread regarding Fidelity Investments layoffs

Classic corporate cuts strategy

Whenever there are talks about cuts, it's always the exceptional performer, the ones who delivered at critical times are on the chopping block instead of the ones coasting breezily.

The reason???
Majority of slackers (you know who you are) won't be affected by the change, but there could be a few who will think this as a wake up call and step up.

And being a top performer, the corporate would think you'll land on your feet somewhere else even after being cut off.

That's a classic tale tell strategy, after 16 years at fidelity and close to retiring, that's one hard but honest truth


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| 82 views | | 5 replies (last March 11) | Reply
Post ID: @OP+1kk75n78z

5 replies (most recent on top)

Completely agree with this post. High performers are high risk to the management staff who are always looking over their shoulder for potential replacements. Enriched sr management will do anything to maintain tenure and cash in on the share programs. It is all a game. Long term employees should have been let go a long time ago but they are quite good at self promotion.

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Post ID: @pg+1kk75n78z

lol

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Post ID: @cw+1kk75n78z

Change will mean rewarding high performers, recognizing them, empowering them....

It'll mean showing to everyone that one high performer can do a job of 5 coasters to the management (who are themselves one of the coasters).

Hence the hierarchy will never allow that to happen, hence silently cutting ties with high performers is easier than "loudly" chopping off half the company.

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Post ID: @bz+1kk75n78z

@b6 as a former associate reading this, it all makes sense.

I was a level 6 associate impacted by Dalian cuts in 2024.

I had an opportunity for a grade level 7 role, but wasn't given the role since I didn't have "enough fidelity experience"

Instead they chose someone who barely knew how to code, document, write complex analytics queries (back then GitHub copilot wasn't as big).

I am still in touch with some of the folks and see the same slackers as part of the team, nothing has changed nor will it ever change in this company.

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Post ID: @bk+1kk75n78z

That’s one big lie for sure!

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Post ID: @b6+1kk75n78z

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