Thread regarding Fidelity Investments layoffs

@10f i care a lot about my co-workers. Speak for yourself big dog

@108 nothing in life is fair. No one cares about you or what you think they promised you.

@qj Its not about Loyalty.... its about unethical policy... they tell people that your base pay will not be increased but you will be given shared in lieu and that people should look at total comp and not base pay.... and here we are... what matters in layoff case is juts the base pay... because you are not getting any bonus or shares as part of severance. All you get is base pay...

so more than loyalty - it is question of fairness. If you decide to cut the roles and there is no explanation to how a role is not relevant anymore... be fair and payback what you promised to people . People worked very hard to earn it. (Note that this RIF is not about performance at all.)

People think Fidelity cares about what you put into this place. You’re a number in a system. You’re only an asset if you make (or save) the company more than you cost. Keep thinking that 401k match, “shares”, and rhrp account give you any security.

You’re one hr huddle away from having nothing. Congratulations on your loyalty.

Shares are just another carrot to keep you from leaving just like the quarterly bonus & RHP. What's interesting to me is people saying things are not fair- they are not but that is the corporate world. I agree, your performance earned the shares in the first place but the company decided to change directions and cancel your at will employment meaning erasing the unvested shares. It stinks and I wish you the best but remember company loyalty is a thing of the past and the sooner you learn this the better you will be.

Hahahaha. You must not have read the contract. It says shares program may change, be withdrawn, or not be paid with little to no advance notice. Full discretion of the company.

They are incentive shares. They earn value not based upon the past profits and value of the company, but by the NAV increase over the performance period. If you aren’t here to contribute to the increase in NAV, then you don’t reap the benefits of an increase in NAV.

@aa only prorated till Q1 .

Thought they pay your shares if u are leaving involuntarily