Thread regarding Fidelity Investments layoffs

Let's have some fun...

What BS do you think she is going to shovel our way tomorrow morning about the Pulse survey results/ RTO feedback?

Please make it fun, I am slowly dying at work anyway. 🫪😫


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| 170 views | | 64 replies (last 1 day ago) | Reply
Post ID: @OP+1m712q7z9

64 replies (most recent on top)

The webinar was held with less than 24 hours notice after months of radio silence, and they used all the same corporate non-speak that they did when they first announced RTO.

They made the announcement before they could figure out how to do it. Now tens of thousands of people are in the dark.

It’s a joke, and it very much makes Abby and Vadim look bad.

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Post ID: @jr+1m712q7z9

What information Fidelity has put out is embarrassing. They cherry-picked the data.

They cannot hide that in 2024 the NPS was 62 and it is now 34. Despite that they attempted to put a positive spin on the whole thing.

So weird that they keep calling RTO “the change” and act like parking attendants make people excited to come to the office.

Q1: Onsite working was a common theme. How did that feedback help shape our readiness for new onsite working expectations?

A: Associates sought reassurance that they would have adequate workspaces and parking, access to private spaces when needed, technology that works, and flexibility when life happens. That's why we invested in workplace improvements, expanded amenities, implemented parking and transportation solutions, and provided additional resources to support associates and leaders. The first two months weren't perfect, and we wouldn't expect a change of this scale to be. We're continuing to learn from the experience and make improvements where adjustments may be needed, and we're using all of the learnings to plan for the future.

translation: we announced the transition six months ago before having a solid plan, miscommunicated, and ignored the core "human" aspect of how a sudden RTO switch affects dedicated employees. We're certain people will like RTO because they have to.

Q2: The pace and volume of change were a major theme. What does that mean?

A: The comments tell us that the primary concerns are not just about the change itself, but how associated will experience the change. We heard concerns about balancing new expectations with work and personal responsibilities, questions about consistency and clarity, and a desire to better understand the benefits of these changes.

translation: we see you. we hear you. And your dissatisfaction will be met with corporate non-answers <3

Q3: As you reflect on all the associate feedback, what stands out to you?

A: What stands out most is our shared commitment to Fidelity's success, which was our highest-scoring tenet. Even during so much change, we continue to care deeply about our future and about one another.

translation: we can cherry-pick the good data, and won't be held accountable for this blunder

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Post ID: @jq+1m712q7z9

@ff When the SLT fed their numbers into CoPilot it said $$$.

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Post ID: @h5+1m712q7z9

@e2 I fed the available data to ChatGPT and asked it to estimate a more likely score factoring in the 51% that didn't vote. It said the more probable NPS is 18 to 22.

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Post ID: @ff+1m712q7z9

@dn Spoken like a true trump supporter: Ignore the everyday people for the whims of rich billionaire CEOs.

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Post ID: @eg+1m712q7z9

@eb if only 50% of the population took it, I have a hard time believing that 50% said I’m going to withhold my opinion. They probably removed the low scores to skew the results. So the results are likely MUCH lower.

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Post ID: @ef+1m712q7z9

@e6 listen to me very carefully - there is nothing written in HR about hours for salaried people. It’s up to business unit “discretion”. What that means is that you can do 60 hours a week or you can leave early and not do 40 - but as long as the job is completed in a satisfactory manner then they can’t mandate hours. HR will not be prescriptive on the exact hours required. People will still leave early to go to kids soccer games etc abs they can’t say sh1t if the work is getting done.

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Post ID: @ee+1m712q7z9

Wasn't the pulse survey held when interns were still here? I bet they were forced to take it. Can we discount those in the actual nps number? We had a big number of interns this summer.

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Post ID: @eb+1m712q7z9

@e2 they didn’t want retribution
Fear goes a long way

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Post ID: @e9+1m712q7z9

@e7 If Fidelity were public this would likely be accomplished by mass layoffs instead. The markets reward sc--wing employees differently. Instead Abby can use her control to force RTO and free layoffs instead.

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Post ID: @e8+1m712q7z9

@dg if it was a public company it would probably be tanking right now

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Post ID: @e7+1m712q7z9

@e3 crystal clear? I’m not on a “contracted” time. Most people are not. Does that mean 8 hours? What if I skip a lunch? What if I take a half day (per current policy you don’t have to use vacation for salaried employees)? You’re getting hung up in the legal speak bs of it being clear. It’s fuzzy by design to confuse and scare people.

There are zero resources for us or the managers. You have no idea what you’re talking about.

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Post ID: @e6+1m712q7z9

@e3 No one will give guidance on if illness/weather related WFH days are counting against us. People are coming in sick and coughing.

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Post ID: @e5+1m712q7z9

@e2 many employees fear that if they answer the survey negatively the results will be used against them. That’s why many don’t bother

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Post ID: @e4+1m712q7z9

@e1 The expectation is crystal clear. You attend the physical office five days per week for your full contracted hours. Any deviation from this is at the discretion of Fidelity and they're not handing out exceptions.

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Post ID: @e3+1m712q7z9

Perhaps the most telling statistic is that fewer than half of employees completed the survey. Engagement is so low that the majority didn't even feel it was worth taking the time to provide feedback. Look up what a 50% response rate means. Here's an excerpt from Google.

For an internal employee Net Promoter Score (eNPS) survey, a response rate below 50% is a severe red flag... A dangerous byproduct of a low response rate is that your final eNPS score is highly likely to be falsely positive.

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Post ID: @e2+1m712q7z9

It is not just a question of HR “playing games” and being cute and coy about the new RTO requirement, but I am wondering about the legality of not providing their employees clarity on basic work expectations. “Go see your manager for details on what’s allowed/not allowed” and the manager says, “We cannot approve RTO exceptions!” The fact is: No one will tell us what the expectations actually are. Is it illegal to play these kinds of reindeer games?? Making employees scramble around to figure out the rules might make HR feel high and mighty…but gosh darn it may be illegal.

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Post ID: @e1+1m712q7z9

Hey copilot, help me create a script for a meeting where I have to say something but I don’t want to actually provide any meaningful updates.

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Post ID: @e0+1m712q7z9

@dw Fidelity will still have many many professionals post RTO. In this economic climate there will be old Ty of good people happy to commute.

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Post ID: @dz+1m712q7z9

Net promote score fell by 17pts!

Now at 34.

Glossed over that super fast.

‘RTO is going well’

Really? According to whom?

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Post ID: @dy+1m712q7z9

@dv Oui Oui

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Post ID: @dx+1m712q7z9

@dt they sure do care they’d rather professionals and not dolts

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Post ID: @dw+1m712q7z9

Actually better still and more historically accurate.

qu'ils mangent de la brioche

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Post ID: @dv+1m712q7z9

@dg Lol. Customers care about their dollars. Customers don't care about RTO or WFH in Fidelity so long as their dollars are looked after.

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Post ID: @dt+1m712q7z9

Laissez les manger du gateau

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Post ID: @ds+1m712q7z9

They just made it worse. I'm done.

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Post ID: @dr+1m712q7z9

@dp funny they deleted my comment.
C C P. Puppet

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Post ID: @dq+1m712q7z9

@dn oh yes says the

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Post ID: @dp+1m712q7z9

Fidelity with be stronger and a better place to work after RTO is complete. WFH has allowed a subclass of mentally weak unproductive complainers to subvert our great company and country!

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Post ID: @dn+1m712q7z9

Oh this was not a tone deaf meeting.
No no no
They are clearly letting everyone know they heard you loud and clear.
This was the big bird middle finger flip off.
🖕
That’s what this was they don’t give a flying f for anyone. This is dog eat dog at its worst level. Sc--w you before you sc--w me.
They don’t give a 🐀🫏 about you or anyone. There's more employees in the world they’ll scavenge for and enough super wealthy to hire them until they too get eaten up by some big huge Chinese conglomerate owners by the CCP

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Post ID: @dm+1m712q7z9

This is 100% direct result of globalism. It’s been happening since the mid 80’s and they’ve succeeded in ki-ling off America.
So I expect the planet to be more hostile, more hungry and less humane.

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Post ID: @dk+1m712q7z9

Last one out turn off the lights
❌🗽

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Post ID: @dj+1m712q7z9

Just a cog in a machine
Broken worn out not doing the job to evocations
Toss you out
There’s a billion in Africa India and also China ready to take your spot on the greed machine.

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Post ID: @dh+1m712q7z9

IF ONLY THE CUSTOMERS KNEW HEARD AND COULD SEE THIS.
ABBY IS DESTROYING the company.
We’re going to AALL be replaced globally period end of story.
The WEF won

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Post ID: @dg+1m712q7z9

That could not have been a more tone deaf meeting. It was a complete failure and answered zero questions.

Be sure to invite a stranger into your house when your kid is sick so you can “meet your onsite requirements”. What are those requirements you might ask?

Work with your manager to understand them.

This company has some of the worst leadership I have seen in my 15 years. Company is on track for a terrible future.

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Post ID: @df+1m712q7z9

@dc as a manager IDGAF and am not checking any dashboards they roll out. I have too much other sh1t to deal with to be babysitting and approving wfh. Hr has made my job so much worse. Let’s just treat people like adults.

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Post ID: @de+1m712q7z9

@d3 can’t stand this place. January profit sharing can’t come soon enough. I’m outta here once I find a new job. F this place!

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Post ID: @dd+1m712q7z9

@db yeah what are these dashboards? Do they check time in and time out? I heard 6hrs was the min somewhere. Could be a rumor

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Post ID: @dc+1m712q7z9

HR has meetings with management to roll these dashboards out and tell them to keep track of associates attendance...yet when they ask HR to define a pattern or what a "full day" is they refuse to answer.

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Post ID: @db+1m712q7z9

@d9 Managers are just box ticking the Workday absence. Until HR reach out to them about associates they're as in the dark as us and their approval has zero sway over HR stats.

I had the same conversation with my manager every time I needed a WFH day. I'd ask for guidance whether to WFH or take PTO and get the same response of "do whatever works best for you" followed by approving whatever choice I made.

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Post ID: @da+1m712q7z9

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