Thread regarding Fidelity Investments layoffs

Dilemma

Recently got a new boss. But this new boss is incompetent. Literally doesn't have the skills required for the role. The entire team is having to teach the new boss how to do basic things and effectively pick up the slack. Our jobs are harder now than when we had no leadership.

I was told this is the best we have. Has this ever happened to anyone? What do I do?

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| 1527 views | | 8 replies (last October 12, 2024) | Reply
Post ID: @OP+1uMRxd1f

8 replies (most recent on top)

What @joh+1uMRxd1f said!! This is so spot on to what I experienced. I tried many different ways to help this manager and instead had my job changed, was backstabbed by people I worked with for years, and watched as other co workers left the company just to get away. It was the most toxic work situation I ever experienced in 20 years.
Start networking and find your next role where you can continue to grow.

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Post ID: @bnhn+1uMRxd1f

Focus all your energies on switching teams. In the meantime, lower yourself like a camel and accept the burden of their incompetence in increased work — like the camel without complaint. Incompetent managers are a species native and eradicable from corporate America especially Fido. Seldom does one win against weeds without harsh agents as your instruments, and you have no such instruments.

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Post ID: @3yss+1uMRxd1f

At fidelity good managers are promoted quickly so you won’t have a good one for long. The bad ones stick around and you’ll have them for about 2 years before you’re able to get promoted or move to another team. That’s been my experience at least. Bad managers don’t help their teams so any movement is done 100% by you while you’re fighting the bad reputation of being on that managers team.

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Post ID: @2btz+1uMRxd1f

After the VBO the open management roles were an opportunity to virtue signal by promoting certain groups of employees , including young people who were newly hired complaining about lack of job movement. leap candidates comparing career trajectory and salaries were promoted well before they were ready. This is not the case for all movement but a lot of it. The chickens have come home to roost

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Post ID: @gxm+1uMRxd1f

Management was also impacted with Covid hires. There are so many people in roles where they shouldn’t be… because we can’t fire anyone. They become managers hoping the bad manager will leave.

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Post ID: @eki+1uMRxd1f

Individuals that lack skills often have the fear of being exposed. These types of individuals can be quite dangerous. They might resort to bullying, micro-managing and deception as a means to protect their position. They may even attempt to enlist co-workers to turn on one another to protect themselves. Keep your communication and thoughts regarding this individual covert and guarded. Don’t email or talk on work phones about your manager. Trust no one.

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Post ID: @joh+1uMRxd1f

Unfortunately, this happens too often at Fidelity. In my 30+ years here, I’d say about 25% of the managers I worked with or for were in over their heads.
Not sure how this compares to other companies.

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Post ID: @lpk+1uMRxd1f

you should quit

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Post ID: @dxi+1uMRxd1f

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