Thread regarding Fidelity Investments layoffs

Fidelity cuts make no sense

The most recent cuts are perhaps the most nauseating. How does the company gain anything by cutting a reliable employee making say 55-60k base with a unknown commodity making 45k? These were the kind of cuts that were made all throughout the regional centers service and specialty groups. Factor in say anywhere from 14-24 or more weeks severance and I just don't see any quantifiable incentive for going through with these kind of low dollar layoffs.

It's one thing to cut high dollar positions (not that I agree with them) but these types of b---s--- reductions were everywhere and across many departments. To the veterans left behind, how can they not be cynical about their futures?

There's a reason we use A numbers when we login to our computers beacause in the end, each of us is nothing more than a number.

Posted by @OzjmyyV-6fzt, bumped for being on point.

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| 2524 views | | 3 replies (last August 19, 2017) | Reply
Post ID: @OP+OFk5s5w

3 replies (most recent on top)

BCG is making the rounds, collecting data and observing things. Do expect re-org and layoffs. Also, AI related hiring might pick up.

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Post ID: @blcv+OFk5s5w

more to come EOY in Smithfield, RI when they can most of the DART dev and support teams post migration to DST

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Post ID: @8bmp+OFk5s5w

You need to look beyond the salary, more specifically at stock options that will now come back to the firm. Significant, if you were possibly thinking about selling your business.

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Post ID: @1dqh+OFk5s5w

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