Thread regarding Fidelity Investments layoffs

So much for job security

Been there 5 years. Don't trust the company, managers, directors, VPs, and CEO further than I could throw them. There is definitely a reason why the annual survey has not been given. I just want to work, earn a fair compensation, help people, and go home. I don't want to have to constantly worry about not being able to do that. I don't want to use the food trucks, video games, fit cards, or any other crazy bs some pocket pushing nerd thinks helps the employee experience.

So much this, @OdZFohT-1qxw. The perks at Fidelity are nice, but they mean nothing if you don't know if you'll have a job tomorrow. Nobody can convince me that the last round of layoffs was necessary. Now we know that even when things are good, we are not safe. No amount of perks is going to help with that.

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| 2472 views | | 2 replies (last July 14, 2017) | Reply
Post ID: @OP+OfRIAJo

2 replies (most recent on top)

To the last person that posted.

"If your group feels expendable, it probably is."

To that we ALL would say pretty much most jobs are expendable these days so your argument isn't logical and it's very flawed.

"You can either evolve with the times, figure out where the business is going, position yourself in front of it, and be part of the solution."

To this we ALL say it's very easy to say this as a comment but the reality of mobility and changing roles is far more difficult than your dramatic oversimplification. And your "be part of the solution" sounds like lip service that we've all heard or read in a leadership book, just stop. This is reality with these decisions that are made so high above all of us with no rhyme or reason so your oversimplification of "feel good" advice isn't very good here either.

"You can continue standing on the train tracks of some niche team that can be eliminated through technology or a 6 hour uptraining of a larger more efficient group and play the victim when the train inevitably comes. Your call."

Again, a dramatic oversimplification and blanket statement that doesn't address the majority of the types of layoffs. Most layoffs were due to performance, downsizing departments by a few heads but keeping the department, or mid to upper management with no direct reports not related to niche groups or technology along with a few other types we can only speculate rhyme or reason for. Your blanket statement and victim blaming doesn't work here.

Sounds like this person wanted to share some insight they just gained from a book they read. Good grief. If you're not part of the solution you're part of the problem. What good did your comment bring? Nothing. Layoffs happened. No one has the answers. Move on. No need to try to give advice based on your own logic that doesn't apply to most people.

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Post ID: @1jrf+OfRIAJo

Good grief. Layoffs s---, but they were a very small percentage of the workforce, and you have 99.99% control over your own job security.

There have been pressures from the flight to passive, price compression, brokerage price slashing and DOL standards that are getting worse, not better. You're blind if you haven't seen this coming from a mile away. Sometimes you have to preemptively chop off an arm for the long term health of the patient. Don't be the arm. It's that simple. If your group feels expendable, it probably is.

Two choices. You can either evolve with the times, figure out where the business is going, position yourself in front of it, and be part of the solution. Or you can continue standing on the train tracks of some niche team that can be eliminated through technology or a 6 hour uptraining of a larger more efficient group and play the victim when the train inevitably comes. Your call.

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Post ID: @trm+OfRIAJo

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