Discussed the October layoff rumors with a GM and SVP at 2 different sites. There are no additional future layoffs planned. So regardless of what you may hear, ignore it because it simply not true. Now what could happen are possible one off job cuts here and there due to firm restructuring. But even this may not happen. What that means is, if there are numerous different job titles reporting under different directors or VPs, or SVP's, then they may want to consolidate roles that are very similar and have them report up through one person. If people are to lose any jobs between now and October, it's simply collateral damage from restructuring and would be very minor, possibly not noticed. And again, it will be very very minor with a few one off or handful of folks with redundant or overlapping roles. The layoffs we experienced yesterday were directly related to performance, tenure/pay, and more importantly job elimination. Meaning certain roles were done away with or certain departments within a particular site were done away with in order to decrease the cost and headcount in positions that are less needed. So again, there are no plans of layoffs in October. It's simply possible that there could be a handful of folks that are impacted due to restructuring. But that would be very minor, and those people would be made aware well ahead of time. This is nothing compared to what happened yesterday. No one will even notice if there are a few one off job illiminations due to restructuring. That's how minor it will be and that's if it even happens at all.
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I took the VBO and have never regretted it. And for those who didn't I too believe they have a target on their back. I knew of the layoff last week and I was told before I left that the October one will happen. And also February 2018. The company was bloated in the mid 2000's and they chopped it down some 13-14 thousand heads to get it under 30,000 employees. Before I left a few weeks ago it was up over 43,000.
if offered, always take the VBO no matter what your personal circumstances are. If you think rejecting it will spare you, you are rolling the dice in a big way
The company is not likely to be sold. It would probably go public before being sold privately to another firm. The wealth generated from Fidelity going public would be outrageously huge.
If the company was going to be acquired or sold, I think I would have heard something.
Well just found out me and my teammate are being transferred to another team in another building and my boss got a call and told us immediately. This reorg being announced later will be intense.
Never believe rumors spread by anyone below the SVP or GM level since no one below this level would know or have access to any type of material hiring or layoff information. Also, and this is obvious here.... DON'T BELIEVE FAKE ONLINE DISCUSSION BOARD POSTS claiming new rounds of layoffs.
Never believe anything until it's been officially denied.
The company will have to do more in order to squash this rumor though. I've seen it here but I've also heard about it in the office long before someone posted it here.
I'd venture to say that most people in the office (and many of them never heard about this site) believe there will be an October layoff round.
Addressing it here on layoffs.com is easy, you make a statement and move on (people may chose to believe or not, as you can see based on the responses to your original note). The hard part is dealing with folks in the office as nobody ever reaches out to them, they are kept in the dark and continue speculating.
So, if the executive management feels that the Oct layoff will not happen, all what they need to do is to reach out to our folks on the ground and state so: NO LAYOFFS IN OCTOBER 2017....
That'd be a simple solution to this issue...
Look at the bitter and jaded former employees trying to fan the flames of fear. Lots of these types coming out of the woodwork here. Just stop. Move on.
Those who haven't been with FIDO very long are buying into the "this is fake news" fake news. There WILL be another layoff, as we have done most every year, Sept-Oct timeframe. Feeling here is the family is lining their pockets now with all the savings/cost cutting, and we will be sold or acquired. Sad. And I'm with you on those who didn't take the VBO being in one of the upcoming rounds.
So, that would be illegal, but ok.
Sorry, I'm not buying into this. Confident they will at the very least find a way to get rid of all those 55+ who rejected the VBO.