As a people manager, I can confirm I received list of associates I'll have to let go.
My manager probably received the same.
We all have mandatory trainings tomorrow to break the news in stages on Thursday.
Just like level 4-7 associates, level 8 and above won't know their date until Thursday.
I might well be outside the door after breaking news to two of my exceptional performers on Thursday.
So it is happening.
Almost all the roles impacted - BAs, SLs, SMs, GSLs
@kt end of May is last day
I myself and other team members were chopped this morning. All high levels in Brokerage.
@jh I sit in brokerage tech and got tapped. So it goes.
@jw sorry you were impacted. I wonder if they'll start slotting anyone not affected into project manager roles - I hope you can find something else quickly. They will be losing a lot of talented people if this is cuts across a whole job title like this
@jy scrum master chapter leader
@jw what is SM CL?
Wow even as a SM CL I was just informed I’ll be let go due to company re org. Whole SM chapter will be cut and repurposed.
@jn I'm sorry to hear this. Hope you are doing okay.
If you don't mind me asking, did they share anything regarding what the severance package looks like?
SM in WI and I just got told last day is this May 30 due to reorg
Yupp it’s true I’m SL in WI and I was informed today that my last day will be end of this month due to reorg. Sad to see after I’ve dedicated 2 decades of my life to the company.
@f7 sadly before I joined Fidelity I recall hearing 2 themes - 'sweatshop' and layoffs all the time. This is nothing new - but perhaps with all the hiring done during COVID and beyond it lulled people into a false sense of security.
@jf can you be more specific? Is CSS within brokerage impacted?
@ce Brokerage is not safe.
Were all SVPs in training on Tuesday or just whose team was impacted
Sounds like “the list” is only in the hands of SVPs/GCLs.
@f7 yeah I am reminding myself that it will be ok regardless of how tomorrow plays out.
@OP I m worried that tomorrow's event is just a start and we will series of similar events for the next x years. In many ways, folks impacted by the first round may come out ahead instead of the ones who are left behind. That's what happened when we started the RIF journey post dot-com bust.
@ee eastern time?
@e7 looks like every manager in my function was in a meeting from 10-10:30. 😩
@e7 was the training pre-recorded with Q&A afterwards, or the entire session live?
When they are going to communicate to those who impacted? What levels - L8 and below?
@cd the training was this morning, just wrapped up.
@dd, I read 1500 is for individual contributor VPs only, part of the 4000 overall
@df there were people saying Tuesday, now Thursday, now you say "this week"
I also saw someone say that lower level associates will get hit in another wave coming in June. is there any hope of full transparency?
It’s happening this week, not rumors. Scrum chapters, non-technical chapters with less visibility on business and leadership, grade 7 and grade 8 individual contributors, SLs, GSLs, and some pip and remote grade 6 contributors are heavily impacted. nothing can be done or roll back . decisions are made . hope for the best
@dc others say 1500, so I guess rumors are just that…rumors.
Rumor is 5 percent (4000 people)
@cg hmm fidelity labs huh? Interesting ,,,,
Looks like those hot shots might be in trouble. I wonder if the former LEAP wonder kids will be impacted...... I'll be watching linked in closely
I've never seen this many comments on a thelayoff post before. Holy cr-p.
Any idea if pb optimize is affected?
@cg Do they belong in the same sentence? One has ~300 employee and one has 27,000.
@ch one little, two little...
List only includes folks other than H1b as usual
@ce I also heard that Fid Labs and Fid Wealth doesn't look too good.. but these are just things I've heard from my colleagues so take it with however much salt you want.
Someone posted above it is 1500 across BUs
I was told that Brokerage is relatively safe since we had this re-org before
What time is the training tomorrow? is it 8-9 CST?
@cb is this why they are laying off before June 1st?
@c1 you actually vest on June 1st (if you just need this year to vest). 1000 hours in a year counts as vesting.