Topics regarding layoffs at Fidelity Investments

Topics regarding layoffs at Fidelity Investments

Interesting Read that Applies to Fidelity

https://www.palladiummag.com/2024/08/30/when-the-mismanagerial-class-destroys-great-companies/ Really good read that I feel applies to fidelity and how current leadership is viewing the company… simply as a framework of generating profit versus... — read more 

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| 760 views | | 1 reply (September 10, 2024)
Post ID: @OP+1urnBSDw

Forcing People Out

I know Fidelity is trying to force people to quit so they don't have to pay severance but don't they realize some of the ramifications of this. For one they are going be losing the best performers rather that weeding out the lower performers. They... — read more 

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| 1680 views | | 9 replies (last September 10, 2024)
Post ID: @OP+1uqY1IOJ

How many connect weeks until layoffs?

Really what is the plan here? Are we getting laid off or not? My manager has been spreading rumors of my whole renting being fired for years and I can’t take the stress anymore. I was here before the pandemic and NEED this job! I thought it was... — read more 

by
| 1750 views | | 6 replies (last September 9, 2024)
Post ID: @OP+1uppxUkI

Glassdoor

upset about RTO? be sure and leave a review on Glassdoor and Indeed, Fidelity cares a lot about how it looks to outsiders, time to bring them down a peg

by
| 1680 views | | 7 replies (last September 10, 2024)
Post ID: @OP+1uoUEz21

Clean up L8 and the Middle Management

Who is deleting post here? Want to share an early post on rumored L8 cleansing with an colleague but found it's gone. Looks like Fidelity HR is indeed monitoring posts here, I'll elaborate: Keep the frontline chapter and squad leaders for now... — read more 

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| 3010 views | | 21 replies (last September 22, 2024)
Post ID: @OP+1uo0NGDz

Leadership

Leadership is so out of touch with the needs of employees that it's frustrating. Leadership seems to only care about making themselves look good. Leadership is incompetent

by
| 1220 views | | 5 replies (last September 26, 2024)
Post ID: @OP+1uowSiNq

SMT 900 Garage Nightmare

This week took me 20 minutes just to get out of the 900 SMT garage. Such a sh*t show. Then 15 mins to make it to Rt 7. And that results in Rt 7 being a total standstill. All in all, an increase of about 45 mins to the commute verse previous Dynamic... — read more 

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| 1460 views | | 6 replies (last September 9, 2024)
Post ID: @OP+1unG7d2D

Durham Parking

No place to park in Durham. Parking in the grass. They haven't a clue how to manage RTO.

by
| 2590 views | | 25 replies (last September 10, 2024)
Post ID: @OP+1unmmQno

401k

When do new employees start to receive employer contributions? Is it as soon as the accumulate 1000 hours? Or in the year after they accumulate 1000 hours?

by
| 760 views | | 3 replies (last September 11, 2024)
Post ID: @OP+1umNkL67

Anyone else also hearing rumors about layoffs?

Like in the case of the previous poster, they are going around my org as well. Is there any substance to all rumors? Nobody can say anything for sure, but the chatter definitely increased. And here I was hoping for some job security for next month or... — read more 

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| 2200 views | | 7 replies (last September 25, 2024)
Post ID: @OP+1uk4ihTg

Fall Layoffs/Toxic Environment

In all seriousness - my org has heard more rumors of layoffs recently. Anyone hear anything? Freaks me out, Father of three and not sure what I would do. I will concede that the culture is totally toxic in my group and everyone is miserable (grades... — read more 

by
| 2200 views | | 6 replies (last September 21, 2024)
Post ID: @OP+1ujQvG1A

Where are you applying?

What's the best alternative to Fidelity? I'm getting tired of all the toxicity and having to play office politics, but everywhere I look the situation doesn't look much better. I'd hate to leave one cr-ppy workplace just to end up in a similar... — read more 

Fidelity went from.....

Organized chaos to unorganized chaos... Now I'm being "asked" to work this weekend after I worked a 70 hour week :-( Fun times...

by
| 1770 views | | 9 replies (last September 10, 2024)
Post ID: @OP+1ugiS54i

Pulse Survey Results

What are the thoughts on the results... Think they'll try to put lipstick on a pig or call them for what they are...

Dynamic working - be very careful

As a manager, i can sense that RTO is being used as a financial strategy to stiff employees on year end bonuses and raises. There is no winning this fight if you care about having a decent bonus payout or getting a raise. They will do everything they... — read more 

RTO is just another attrition strategy

What will you do? Relocate or quit? For me, personally, relocating and respecting RTO rules is prohibitively costly, both in financial terms and with respect to time loss. When I put everything together, it just doesn’t make any sense for me. I will... — read more 

RTO, snackgate, and now tshirts!

It's interesting that as every other week RTO rolls out they also decide to reduce snacks and start letting groups know tshirts and sweatshirts are no longer allowed in office or zoom. And, yes, while the latter two are very first world problems, it... — read more 

Relocate or Quit!

Relocate or Quit: Fidelity Gives Some Employees Ultimatum "The firm in September will start requiring employees to work two weeks per month in the office. Employees must comply or "voluntarily resign," Fidelity employees told Ignites." (Taken from... — read more 

by
| 1540 views | | 4 replies (last September 22, 2024)
Post ID: @OP+1ucn8wks

Agile Why?

Can someone explain why the whole company is still doing this "Agile" thing? I get that it has its place, but Agile everything?!?!?! CrAzY

by
| 1370 views | | 11 replies (last September 6, 2024)
Post ID: @OP+1uco5dG0

Scrum Masters

Can someone explain to me how the scrum master role is an 8 hour a day gig???

If you work in technology, add your salaries to Levels.fyi

It takes a minute and you don't need to sign up. We need more data points here. It's useful information to help negotiate if you apply to new roles within the company. https://www.levels.fyi/companies/fidelity-investments/salaries

Full RTO

Do you guys think we will go to full time in office at some point? Might start thinking of getting a place closer to the office.

Being laid off should be considered a blessing

Being affected means that you are being paid to leave the toxic culture, awful corporate politics, constant reorganizations, general disorganization, and management that only knows how to bully its employees. Can somebody please explain to me how is... — read more 

Layoffs Today

Anyone know how many and what areas were impacted?

Pulse Survey

How long does it take all the empty suits to release survey results? Were the scores really that bad?

Non connect week requirements

It seems like a lot of groups are constantly forcing/strongly encouraging people to come in during non connect weeks for meetings, off sites, town halls, aligning with a business partner who has a different connect week, etc., but then they regularly... — read more 

LOA, Medication, Alcohol

Out of nowhere another teammate is going out on an LOA due to anxiety and stress. I was in the office last week and people opened up about the damage being done due to the pressure and toxic work environment. Soooo many people coping with anti... — read more 

If you are mandating RTO pay your employees more

Former employee here who just recently jumped ship due to the shaky RTO mandates. It’s totally unprofessional to keep people in the dark until you as a company finally work out what you want to do. Believe it or not, people aren’t just a number on a... — read more 

Connect week hours

How many hours do we have to be physically in the office each day during connect week?

Any updates on layoffs?

There's been rumors circulating for a while now about coming layoffs, supposedly happening in Sept at the latest. Any news?

I'll happily leave with severance

What does it say about Fidelity if I'm excited when I hear there will be more layoffs instead of being petrified that I might lose my job? Nothing good, that's for sure. I know I'm not the only one who feels this way. Things are so bad that layoffs... — read more 

More Layoffs

Two grade 7s in different BUs confirmed they’ve heard more chatter about new upcoming layoffs. Maybe due to the market drop or not as many people expected to quit in Sept/Oct due to strict new return to office rules? Anyone hear anything?

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