Thread regarding Fidelity Investments layoffs

March 31st - so long

Just informed today that my position has been “eliminated”. It’s been a nice multi-decade run. Record profit last year and now….

I remember when it was a family company where people were “known”. Now, you’re a number.

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| 13475 views | | 24 replies (last April 1, 2024) | Reply
Post ID: @OP+1rqNGAyd

24 replies (most recent on top)

What about the CRA call center? Will they layoff here soon?

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Post ID: @picc+1rqNGAyd

@3lvw+1rqNGAyd Did you not stay at the company long enough for the match vesting period?

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Post ID: @7pxg+1rqNGAyd

Sorry to hear that :( What department?

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Post ID: @5kzk+1rqNGAyd

I was also laid off today. My dept is so busy. It makes no sense. I was completely take off guard

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Post ID: @5wow+1rqNGAyd

I Know 3 people that were laid off on my old team. Pretty ridiculous to see how many late nights they put in for this company to be underpaid and then terminated with such a cold exit. Very disheartened about the situation and now I’m anxious about my own future here .

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Post ID: @4fmp+1rqNGAyd

I was also just laid off from Fidelity after providing unmatched dedication and effort. It was a 2 minute zoom call with absolutely no warning. I couldn’t be more disgusted and have felt more disrespected by this company. I have no good things to say except that I loved my team. I will never recommend Fidelity to anyone for employment.

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Post ID: @3spv+1rqNGAyd

Are these layoffs higher pay levels?

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Post ID: @3hmm+1rqNGAyd

I do not feel any remorse for this company of thieves. My 401k went from $64,000 to $9000 of which I received $6000. Couldn't happen to a nicer bunch of thieves. I hope the entire company goes bankrupt and theirs no money for the big bosses to steal anymore.

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Post ID: @3lvw+1rqNGAyd

But what about dev ops in Boston.

Some of us have given up more pay for other companies thinking "well atleast Fido doesn't lay us off." Well this is a reminder that you're just an a number.

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Post ID: @2iav+1rqNGAyd

This whole thing was handled very poorly. The delivery was very cold, I had to inform my squad about my termination. I’m being expected to work the next three weeks or your severance could be in jeopardy. So much for this place being one of the top 100 places to work at. In what world do you get glowing performance reviews and aspire to reach higher levels and get eliminated anyway for all your hard work . This company does not care about its employees. Am really upset for giving them my all, complete waste of time.

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Post ID: @2mwr+1rqNGAyd

Former employee of Yellow Freight. Poor management everywhere.

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Post ID: @2frs+1rqNGAyd

I was laid off this week from Fidelity as well (Merrimack NH). 15 years dedicated employee who worked hard and loved my job. This hurt. I have slowly started telling my squad members and they are all in shock and wondering how they he-l they are going to get through Q2 client projects - I have a niche role that no one else on my team does.

Also learned that my manager is not going to ‘announce’ my leaving. WHAT? So you want me to work 3 more weeks and you are not going to prepare the team for me leaving? AND, umm, why do I feel like I deserve a party? [I may just plan my own party given that we have an in-office week coming up…..]

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Post ID: @2jpm+1rqNGAyd

I’m not looking forward to training my replacement or KT. 3 weeks of he-l left.

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Post ID: @2jeh+1rqNGAyd

How are folks handling requests to train your replacements? Seems odd to be laid off with the position being eliminated but then asked to train other employee's.

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Post ID: @1jar+1rqNGAyd

New HR exec seems like a cnt. Maggie promoted to "admin" exec or whatever tf Abby named the headhunting position. New WI execs have dead shark eyes. Heads are gonna roll

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Post ID: @1pqk+1rqNGAyd

People need to learn that no matter what, corporations do not care about you... the second they feel they can replace you, they will. It doesn't matter how much they say you're part of the family or how great the culture is. Once it becomes more advantageous to get rid of you in their eyes, then they will... so there's no reason to ki-l yourself or even give 100%.

My father worked his a-s off as a manager for two decades for a very popular grocery store. Once he got his cancer diagnosis, they told him he could only use half his saved sick pay and gave him the boot.

I'm sorry your lost your job and hope you have a quick bounceback :) Not sure what position you're in but I know they definitely way overhired during and after the pandemic.

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Post ID: @gtk+1rqNGAyd

Sorry to all those effected :( Thinking of you!

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Post ID: @gyb+1rqNGAyd

If only we sold the offices to eliminate pointless overhead instead.

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Post ID: @ata+1rqNGAyd

Sorry to hear for all who lost their jobs.

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Post ID: @eli+1rqNGAyd

There is no tech layoffs in Boston office ( Devops Team )

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Post ID: @dih+1rqNGAyd

Record profits, but expenses went up 15%. All the hiring was not sustainable IF there is ever a downturn. PI had a ton of people at levels 6/7, WI about the same and it wasn't sustainable. There was only 4% organic growth for the whole unit under Rottenburg, which is why she is already gone.

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Post ID: @zis+1rqNGAyd

anything about talent acquisition?

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Post ID: @upp+1rqNGAyd

Same here.. tech layoffs

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Post ID: @gms+1rqNGAyd

why

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Post ID: @gdk+1rqNGAyd

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