I guess they didn't get enough older workers to take the earlier retirement, so they got many of them in this second round. Fidelity is a very profitable company that is just kicking older workers to the street and throwing in a few younger ones too to prevent job discrimination. It is cheaper to offer a severance package to prevent old age lawsuits, but that doesn't make up for facing a job cut in your 50's. I'm sure that they can hire 3 workers in India for one older workers pay and benefits. It is a shame that Fidelity treats older workers this way.
11 replies (most recent on top)
Abby is over 55, maybe it's time for her retire...
So sorry to those involved. I am not surprised. I have seen a lot of back office type work going over to India. There is a big reorganization going on in one area.
Cuts have been made and there are more to come. I may be next.
Major, major layoff yesterday. My job went to India. Very disappointing since I had years of strong reviews, promotions, stock options. No loyalty whatsoever. Last day is end of the month, then I have several months of severance. This came totally out of the blue. Fidelity is stealth, won't even mention it. Meanwhile morale is in the toilet, rightfully so, after months and months of these Tuesday layoffs.
Those that were laid off. Were you given notice? IE, are you physically at work for another six months or was that your last day and you immediately begin severance? Sorry to hear btw.
I hate that people on here are saying no layoffs, I was axed today along with many other senior people at Fidelity, so yes there were layoffs. They laid off several IT professionals in my group alone as it is cheaper to offshore to India or China. Fidelity love to keep these job reductions out of the press because it would shed light that while one hand lays off older workers, the other hand is hiring younger workers which is age discrimination, but no one has pockets deep enough to fight that lawsuit.
WLK got hit.
No sites experienced anything out of the ordinary
What sites got the ax today?
I was laid off today, too. Completely agree with the person who posted this. They seem to prefer young college kids and India to seasoned employees who have moved across the country for this company over the years. This, after years of good performance reviews. Be careful once you hit 50, people. Thrown out like yesterday's trash.
Imagine that-no layoffs!!!!!!
Have not heard of any lay offs today. I hear you on Fidelity treating us older workers as yesterday's news, none of us feel appreciated anymore. At least in my group anyway