I’m surprised to be seeing such an incredibly massive influx of new hires.. mostly contractors, but FTEs also. At this rate, the new hires could easily outweigh the total layoff numbers.. 5:1 easily. Im not trying to convince or sway anyone to... — read more 

According to Copilot, Fidelity over hired managers during the pandemic to keep up with temporary and bloated growth. People who were moved into management, during the pandemic are being evaluated based on stack ranking and qualifications.

I've watched teammates ki-l themselves with extra hours and extra work, only to blame themselves when they got cut, convinced they just weren't good enough. Meanwhile, the office politics crowd sails through every round doing nothing. If that's not... — read more 

It feels like a lot of people are carrying quiet exhaustion right now. The layoffs.
 The uncertainty.
 The pressure to “be grateful. ”
The full-time RTO mandates after building lives around flexibility.
 The feeling that everyone is pretending things... — read more 

or this quarter?

I wake up every day scared that today's the day. I can't concentrate. My work is slipping. Is anyone else feeling this, or is it just me?

Fidelity's leaders should be ashamed but that would require them to be able to feel shame. Ned must be rolling around in his grave, rest in peace. I didn't agree with everything he did but he never showed the lack of respect for employees that we see... — read more 

Can anyone corroborate a document I found which forecasts RIF beginning in Q4 through Q3 of next year? I don't want to give too many details but it was a full time employee forecast for one of the major support units. The decline began in Q4 with a... — read more 

Fidelity to Cut 800 Staffers as It Overhauls Tech, Product Teams (Bloomberg) Fidelity Investments is cutting about 800 jobs while restructuring technology and product-delivery teams and planning additional... — read more 

None of us were ever promised or even hinted at being given any form of loyalty. You were PAID to do a JOB.. Given money in exchange for your time and services, with the expectation of providing a predetermined outcome to the organization. You can... — read more 

SMs, Now that you are exiting, can you tell us what exactly you were doing beside scheduling and hosting agile ceremonies. You were getting free money folks

And cripple teams in the process? You can only spread so much work across so few people, especially when specific roles require specific skills. It's pretty clear that efficiency and morale aren't even on the list when they're making these decisions... — read more 

The worst part about everything happening lately is the complete lack of accountability from senior leadership. They’re the ones who championed the Spotify model. They’re the ones who forced people into different roles to support it. They’re the ones... — read more 

For those of you who got cut, do you blame your direct manager? Or do you see it as something above their heads?

Laying off the people who do the work while keeping the people who just attend meetings. That's not a strategy. That's self destruction.

If you are disappointed with Fidelity then don't limit your posts to a hidden forum like TheLayoff. Go to Glassdoor or other more public review sites and share your experiences there. Yes Fidelity can and does game the system but even a few negative... — read more 

In essence these layoffs and reorg have taken the winds out of my team. the morale is so low it’s un-existing. everyone sounds miserable, noone answers to queries. No one is motivated. my team was a top performing team before all of this. people are... — read more 

I’ve seen a few vesting-related posts, and I think mine is the most interesting one. My last day is set as May 31st, and if I work one more day, my 401(k) will be fully vested, based on the 190 hours per month rule, no kidding. it’s really... — read more 

Please correct me if I’m wrong, but from my understanding, Fidelity is hiring junior engineers to replace high paid high ranking individual contributors. So if that’s the case, what’s going to happen to Fidelity’s leap program? are they hiring... — read more 

As the severance document highly suggests consulting with an attorney regarding the details, has anyone consulted did already or plan to do?

How will RTO be used in place of a layoff? The managers in my group don’t even show up all the time and take a lot of PTO during connect weeks. I assume nothing will really happen to managers but what will the trickle down impact will this have on... — read more 

Need advise what to do with PTOs as I am one affected by the recent layoffs. Do we get them paid out or take them prior to leaving?

I’m hearing that it was mostly US employees affected. Input from overseas origin management drove much of the selection process.

Any mainframe developers affected in this layoff?

Fidelity pushed the non-tech to tech roles during the pandemic. Then finally someone realized it’s better to pay more for people who know what they’re doing. Next cut will be managers who aren’t qualified and have been in their roles too long. Weak... — read more 

I was laid off last week and I have to say I feel nothing but relief. I was one bad week away from resigning with nothing lined up. Now I get a package and a clean exit. I know not everyone is in the same position, so I hope the others affected are... — read more 

Curious.. What was your grade, salary, share amounts?

Do not recommend House of Fidelity.. but… This book really helped me get through a tough transition when i left the firm. I highly recommend for those impacted in the tech space https://a.co/d/0jkcO8Xz Bit of a click bait title - but Erika used to... — read more 

contractors paid more then FTEs for same work ? any company will retain their FTEs and lay off contractors for any scenario!!

Would you consider finding an internal role and staying or are you completely done with fidelity? What are some of the pros and cons? I’ve seen a lot of people who were laid off last round come back either full time or contract so just curious.

1000+ roles might not seem much but majority of these were VP, SVP level roles. When these leadership roles are filled, the teams are consolidated and there WILL BE natural redundancy introduced that will further fuel reduction in future. The... — read more 

This comment from a Fidelity spokesperson gives me pause and makes me wonder what the median age of those impact by the RIF is. I’m 52 and was laid off last week. If you were laid off, share your age below. “These changes are about getting the... — read more 

It's been an attrition tool everywhere else, first and foremost. But people are hanging on to their jobs. The market is brutal, so they're meeting all the RTO demands. I wonder how this will actually play out here.

Maybe your role wasn’t eliminated but it’s different now… you’re managing a lot more people suddenly or not managing people anymore? Or you were asked to go down a level in title or comp?

To have a modern workforce, nimble, ready to work at anytime and anywhere, and now they return us to our father’s old fashioned office drudgery. We aren’t “liberated” we’re back to being pawns and cogs whatever you want to call it! All that... — read more 

Is FCAT impacted? Are tech teams in Boston impacted?