All rumors points to the second Tuesday of September. Will report back what I learn around me on the learning day!
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My division seems to have an all hands every other week.
Moving my goal post to somewhere from now to mid of October, when an all hands meeting is scheduled for my area. I'm an data engineer. Any other all hands scheduled?
Back in 2001 there were layoffs planned for September but got delayed because of 9/11. Ended up happening at the end of October. We found when it ran across Dow Jones News Wires. Great way to find out right before the market opened.
Wealth Technology is getting axed.
Not sure who is impacted, blend of level 5,6,7.
Separation date end of September, heard some have until December 31st to either figure new role or quit / deciding on severance
Any news on what units will be impacted? Anything in Brokerage client facing?
There are no layoffs. That would require HR to do something.
Can confirm. Your manager does NOT have any say in who gets laid off or really have any insight into the selection process.
Remember too, in any RIF, you have to make sure you don’t skew toward protected classes, people over 40, minorities, etc. so you have to mix in plenty of younger people, white men, etc. And I think they throw in some “problem children” too. People they’d like to fire but it’s easier to stick them in a RIF with a nice package.
@ca Yes you did. I know of instances where a manager requested to keep a good employee on the list and explained another employee in the group was a poor performer who could be laid off with minimal impact but HR would not even consider it.
Being part of a RIF is not a commentary on the employee. In some cases it is the better performers who worked hard to get raises, promotions, etc. that puts the target on their backs because letting them go “saves” more money than letting others go. (Yes, makes no sense in not considering impacts to the business but it is how they do it.)
@bj standard, 2 weeks for every year of service
@bt so I got laid off last year by a ROBOT?
@bj Severance is the same for everyone let go.
@bj These layoffs are determined by computer program to protect Fidelity from lawsuits. They have historically been across grades. Once they did cut mostly management by requiring all managers to have a minimum number of direct reports so those people with fewer than that number were on the chopping block; but, it wasn’t long before more management positions were created with few or no direct reports.
What do they offer usually for grade 7 or 8? Any one impacted in the past can share?