Thread regarding Fidelity Investments layoffs

DoTheMath · 2024-03-10T18:21:02Z

1, 1000s of new hires during Covid and WFH period Return to office slowly returning to original time in office Limited office space Many waiting for next VBO Attrition has slowed Need to reduce headcount to have enough seats for new hires and pre-covid numbers HR is brilliant in that it: Reduced head count Scared ppl back into office Got VBO waiters to either be let go or scared such that they retire before next layoff

Simple Math

1, 1000s of new hires during Covid and WFH period

Return to office slowly returning to original time in office
Limited office space
Many waiting for next VBO
Attrition has slowed
Need to reduce headcount to have enough seats for new hires and pre-covid numbers

HR is brilliant in that it:

Reduced head count
Scared ppl back into office
Got VBO waiters to either be let go or scared such that they retire before next layoff

Comment! It's anonymous!

2 replies (most recent on top)

@jcs+1rtnIsin - it’s a numbers game to HR, everyone is just a generic resource.
They don’t care about skillsets, length of service, etc.
They do care about headcount and cost of headcount and have to be careful about discrimination when they make decisions.

Brilliant? Those tactics affects everyone. The first who will leave will such dated attrition tactics will the most skilled and able. The slackers stay and hide. It will only hurt fidelities talent pool.

Thread regarding Fidelity Investments layoffs

2 replies (most recent on top)

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