As we have all seen the last year has been a blood bath. All finance companies (Schwab, JP Morgan, BOA, etc…) have had massive cutbacks right along with the top tech ones. Fidelity is taking their turn. You can blame the pandemic for creating a bubble but the real story is that the job market is forever changed. The majority of these jobs are not coming back, they are being scaled back to control labor costs and to get ready for AI.
One thing to consider for those newly on the job market is there are no safe havens or anywhere for a soft landing because all sectors are tying to dump labor cost and not hire. Add to the fact others who got chopped early have had a 12+ month head start. Instead of limiting yourself to another finance company look at your skills and see where they could fit in other verticals. Also put your salary expectations aside. As much as people griped about Fidelity paying poorly you likely won’t be replacing your total comp for years to come or ever if you are late career and had lots of tenure which is a red flag for hiring companies. I'm not saying you should doubt what you are worth but it's just the harsh reality. I wish it was better news but it’s the truth.
I wish the best of luck to all affected, there will be a day when you’ll be glad this company is in your past for sure.