I got let go for admitting I returned computer items from over 3 years prior. Repurchased but eBay goes back only 3 years and PayPal 2 years. Don't think it would of mattered even if I could get them. If you are called into investigation by internal director, I highly recommend you say nothing and tell them you want to discuss with your legal council. you may be let go any way but at least you can force their hand. They may have got records from the stores without your consent which is better to show if it goes to court.
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What's the attorney's name?
Things are getting crazy at Fidelity. I just hired an attorney, my past coworker recommended her and supposedly she handled a lot of these cases with good results.
I don't want to ruin my professional credibility I worked so hard for bc of some god-forsaken reimbursement program.
Oh yeah, They'll take out your knees and then cut your arms off. If you ignore the request, they'll send it to collections.
I just received a notice from Fidelity requesting I pay them back. I lost my job because I bought a laptop and returned it for a desktop a month later(happened in 2014). The desktop was a couple hundred dollars less expensive which was my error. Anyone else received this? Unbelievable I would get fired for this in the first place and now they want money for it.....
This is wrongful termination in so many instances. People need to sue.
If they were done in May, then they are not only being done quarterly.
The cost cutting is significant at Fidelity. We used to have catered meals for reward luncheons. Now it’s bring your own sandwich. Up to about year ago they had campaigns which were sales bonuses and were quarterly paced. Payed out as points that could be used to buy anything. Last one I earned 360 perk points for a campaign that lasted 6weeks, that translates to about $500 on credit i could use to basically shop on amazon. We haven’t had a campaign since that one. They have completely eliminated an incentive that benefited me at least $1000 per year for doing my job well.
The company is going down fast with the outflow from managed mutual funds. And outflows from their sh--ty PAS managed account. Literally it’s the same as their lifecycle funds. Same managers etc. but they charge upwards of 1.2%. Horrible company and horrible business practices.
Fidelity is desperate to fire people. They are into cost cutting since few years. This is an opportunity for them to get rid of people for any small minor mistake.
Fidelity has a reputation in the past for doing these kinds of targeted firings. Did they go too far this time? The negative attention this has generated is probably good news for remaining employees because Fidelity may be less likely to do this kind of thing in the future. Hopeful....
anybody that you know reported to HR to pay off the amount and not terminated ?
It’s done quarterly!!! So nothing new until end of July!!!
Monday June 11 will be one full month or no new. reported firings.
Purge is complete??
This discussion is not about intentional fraud, fraud should be punished. It is about witch hunt for unintentional oversight of correcting the original claim after a return or exchange. The fact is that computer purchase policy was non-existent and vague at best. Even if an employee wanted to refile for exchanging for an expensive computer he would not know how to!!!
I think Fidelity overreacted in firing for exchange. Unless there was an intentional fraud like using the same receipt for multiple people to file, the oversight could be easily managed by manager conversation and coaching.
Regular return/exchange is common practice around electronics, regardless of the company perk, and being fired for that is way over reaction - the punishment does not fit the crime!
Oh wait, let’s stop showing the benchmarks so clients don’t keep complaining...how in the hell is that not a blatant deceptive business practice?
Managing billions of dollars and underperforming standard benchmarks, while continually jacking up fees, should be considered fraud.
Oh God these independent thinking anti fraud crusaders. No one is calling you trolls for opposing fraud. There was no fraud committed in a bunch of these firings. So people might get defensive when being labeled a certain way when they did nothing wrong.
LoneStar - that’s what trolls are according to the people that got canned. If you don’t agree with misuse of benefits, then you serve no purpose in this forum. LOL
If being a troll means disliking theft, so be it....
Yoda troll, damn you be old.
I’ve worked at 4 financial services firms in the past 23 years - I can promise fraud was a sticking point at all four. Theft of time, resources, using benefits in a manner they were not designed (explicitly or not,) being unkind or inconsiderate, etc. should not be tolerated by any employer. You don’t need reprimands or coaching. Your career is not ruined if you were let go, provided that your new employer finds your actions acceptable. Many won’t - why should Fidelity?
Life can change in a hurry, I feel very bad for those whose family's lives and lifestyles are changed forever by such a relatively small thing. If Fid truly cared about its employees, it would provide them with feedback, coaching, warnings, etc, and help them become even better people and better employees. Employees who feel valued and are given a second chance will become loyal employees for life. But the goal isn't to value and develop the employees, it is to reduce personnel expenses and ruin people's careers so they can't compete against the green machine in the marketplace. Why be loyal to a company that talks a good game but really doesn't feel any loyalty to its own people? If you're a producer on whose back the company is built (i.e. not management) your only an A-number worth your last months production. Amazingly that's not how it is everywhere.
They don't have you sign anything, you just get bounced out the building.
Anyone know what you are asked to sign by the investigators? Should you sign it?
No limitations on “fraud”
So is there no limit to the number of days after you leave a firm that they are still able to mark you up on U4/U5? Or are they able to do so at any given time?
Yes, I know for a fact of someone that left on their own will and while at another firm they had their U5/U4 marked for fraud because of all this.
At some points there are diminished returns!
Going after retiree would be cruel, but so is going after employees who availed the perk and unmaliciously did not refile return/upgrade
VRB - Interesting question. I believe I did read in this or another thread that came after people who already left. Not sure if it was just the licensed employees or not. I wonder, since this is an official audit, if they have to go after everyone who fits the criteria regardless of employment status. And if licensed, do they need to report to on the U4 or U5 if they meet the criteria. Anyone who knows about audits that can chime in?
that would be pretty ballsy, going after retirees! but they seem oblivious to the bad-will already generated so I suppose nothing's out of the question!!
regarding VBO - look at what you signed. wonder if there's any language in there that they could use to stop making the payments?
Severance guy, their MO is to reduce head count. Highly unlikely they go back and audit people that took the VBO and got out (good move by you for sure)...but I would not put anything past these corporate skumbags.
I took the vbo last year. I am concerned that the company may start looking at retirees and suspend or cancel severance??
This entire thing will come down to whether Fidelity had the right to access the receipts. I truly believe that the Witch Hunt began with them discovering the tracking features for mail orders from Apple and Best Buy. And if it said returned online, they could have easily brought in the accused parties and I’m sure a good number would have resigned if given an option. The good cop bad cop pressure being applied. Others would have fought it who knowingly had reasonable explanations.
They crossed the line contacting Apple and Best Buy using their business partner relationship to acquire the actual receipts.
This seems obvious to me that is where any possible lawsuit would based upon. Are lawyers saying otherwise?
That is so messed up that you were let go after buying a more expensive computer. I was let go because of an exchange as well, but my new computer was slightly less expensive. You should sue, you never received any economic benefit from the exchange and the “policy” only has a sentence about paying back overpayments which you ended up not having. If anything you were underpaid on your reimbursement. I feel the same way as you, my six figure income is now gone, and I can’t even get past the first stages of interviews because of the way we were let go.
I’ve been a mess since I was fired. $120k income vanished. My life is in shambles. I bought A MORE EXPENSIVE computer after returning the one I claimed on the program. I produced receipts after my interrogation..... still fired. I’m still in shock how this happened.
So far May 11 is the last reported firing.
Are there new stories?
If there were new stories people would have posted them.
What affected folks are doing?
Trying to find new jobs
Why there aren’t any lawsuits against Fidelity/ Apple/ Bestbuy?
Do you want to file a lawsuit against them? Im sure plenty would jump on board.
Are there new stories? What affected folks are doing? Why there aren’t any lawsuits against Fidelity/ Apple/ Bestbuy?
Fitbit loser, you're the type of people they're trying to flush out. You know good and well that this reimbursement program was not meant for people to buy and sell their items. If you don't understand that, then you're an idiot and need to get fired anyway before you do some real damage. If you're not getting paid enough, go get another job. You probably can't get any other job because of your stupidity. Don't act like you're working for some higher cause because you need money for you're family. Pieces of sh-- like you are why decent people who made honest mistakes are without jobs and can't provide for their family right now. I'd punch you in the face if I could. I have much more to say but I'll stop because I've already wasted enough time on you.
Fitbit person, in Fidelity court you are guilty and will be fired if questioned. However, the probability of you being called in and let go is low because the merchant where you bought your Fitbit will not have any return receipts to provide to Fidelity.