Thread regarding Fidelity Investments layoffs

Why do they always keep us in the dark?

It's an hones question. This is nerve wracking and has forever changed my opinion about this once wonderful company.

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| 3501 views | | 9 replies (last July 11, 2017) | Reply
Post ID: @OP+OcfSFVI

9 replies (most recent on top)

Companies generally do not announce departments who will be affected by a layoff not out of spite but to be practical. If Fido announces they will layoff 3 people in Westlake PAS, for example, the people who are most likely to leave that department will be top performers, because they can. Top sales people could hop to another group not under the gun, or simply leave the firm. Those are the ones the firm wants to retain. Poor performers will find moving within the firm difficult because of their review scores/rankings.

You also run the risk of people just stopping work. Some may have a fatalistic view, Well I'm getting laid off in July anyway, why try for the next few months."

It's painful, all talks of layoffs is. But there is a reason.

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Post ID: @1vak+OcfSFVI

Why? They.Don't.Care. You are a commodity to them. Nothing more.

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Post ID: @1lkl+OcfSFVI

@wie - My point exactly - as soon as they would announce it, pretty much all folks would be running for exits

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Post ID: @hzv+OcfSFVI

If they would have said in January, "We are playing on a RIF in July" then half of my department would be working for competitors.

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Post ID: @wie+OcfSFVI

Withholding info from the people it affects the most is not just not good business. It makes me angry right down to my core, this is how I know it is incorrect. There seems to be very little heart/head connection and all the benefits and employee perks in the world can't make up for a lack of true caring at the top. It will always filter down.

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Post ID: @atv+OcfSFVI

Layoff's are NEVER easy, I have seen many companies go through the process and keeping employee's "in the dark" is a necessary evil. The company is doing OK given the difficult circumstances. And no, I am not in management and don't know if I am personally effected.

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Post ID: @sps+OcfSFVI

find me one company that does this better than us.

i am not saying we are doing it correctly, i am simply stating that all companies behave in a similar way - they withhold info until the are ready to announce things

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Post ID: @tzt+OcfSFVI

Change management and internal communication management has never been our strong suit... We do this well when it comes to clients, yet, internally we should be able to do so much better.

They may want to consider to use some of the folks that handle client communication and move them to handle internal communication during major events like this round of layoffs.

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Post ID: @orh+OcfSFVI

HONEST not HONES - sorry for the typo

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Post ID: @xvf+OcfSFVI

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