Thread regarding Fidelity Investments layoffs

Diversity as perf metric for people manager

One way to counter those teams or orgs with only one identity is to add diversity as a formal performance metrics for people managers of those teams orgs. If they don't improve on diversity in their team, they'll be punished.

If Microsoft can make "use of AI" a performance metric, we can certainly make diversity one. Just that whether or not the HR view it as a problem or not. So in addition to "relocation", use "diversity" to push out some leeches.

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| 2464 views | | 32 replies (last July 26) | Reply
Post ID: @OP+1k0bzthez

32 replies (most recent on top)

@1h0 Who gives a cr-p what Cankles the Clown says

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Post ID: @1h7+1k0bzthez

US: Trump Warns Microsoft, Google, Other Tech Giants to "Stop Hiring In India"

https://www.youtube.com/watch?v=XxIGnLG2COg

The big orange echoed the sentiment in this post, but the question is, is it another TACO? Just talk?

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Post ID: @1h0+1k0bzthez

@15

If you've been around aged people, you'll realize there are a lot of services that Medicare does not cover. That includes long term nursing care. Its in these situations-- when Medicare does not cover a service, and the old person has exhausted their savings--that Medicaid kicks in. Or would have, until Trump slashed it.

A lot of d-mb boomers are sitting satisfied now, thinking its the poors who will be sc--wed over. But all it takes is one illness -- like dementia--to get them requiring nursing care, and at 12k per month it won't be long before they burn through their savings.

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Post ID: @15y+1k0bzthez

I am a VICTIM! Woe is me! Su-k it up…it is about MERITOCRACY! Do your job, learn new skills and apply yourself. Fidelity grew to what it is on the backbone of those who came before you…there was no complaining and crying…what there was…hard work, effort, team work, trust, respect and common goals/commitment. Cry babies go somewhere else…Fidelity is not for you! This DEI silliness has to stop!

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Post ID: @13h+1k0bzthez

First for everything. Never actually seen a prayer in a post on this site.

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Post ID: @10r+1k0bzthez

While current VP and administration try so hard to bring the low-tech and environment-poisoning manufacturing jobs back, they do nothing about the ongoing shifting of high-tech highly-paid tech jobs offshore to Asian and European countries. Together with the h1b abuse onshore, we tech workers are double doomed.

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Post ID: @w4+1k0bzthez

Dear Fidelity customers, be aware the selection bias exemplified by the posts here where only the bad, extreme or suppressed things are vented. The offical Fidelity sub-Reddit is for Fidelity customers.

That being said, Fidelity treated American minorities really well. We still have a Diversity & Inclusion office. Special minority employee groups are still in operations to propel minority associates. This draws the ire of some of the MAGA Fidelity employees, hence you see post deriding DEI associates. At least in my corner, American minority is not a problem at all. Out of my 40 people chapter, only one african american engineer whom everybody love. We want to hire more just the pipeline is all but one other identity.

What this post about is a different kind of diversity, as @ka wrote in her/his post and I emphasize here: Reverse Diversity. And I only list the fact and you tell me that's not troubling: More than 70% overall and 100% of many teams and orgs in Fidelity Tech Teams are one other identity! (I dare not explicitly spell out the identity as my post will be deleted).

Let me ask you, as to your hard-earned assets:

  • Do you feel comfortable that your data is entrusted to folks offshore in the biggest democracy outside of the united states, where fraud, corruption is norm and poverty force people to do anything?
  • Do you feel comfortable that American associates are disfranchised and demoralized onshore in every Fidelity tech hub, because the folks that originates from that democracy dominate the hiring and promotion process?
  • Do you feel comfortable that the people from that democracy on/off shore corrobarate to transffer more of their people onshore, further disfranchise American worker?

Again, to be fair with Fidelity, the Reverse Diversity problem described above is pervasive in American tech industry. Fidelity is just an poster child of it.

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Post ID: @qk+1k0bzthez

@kv Prayer is asking an all knowing, all powerful deity to change their plan or the course of their previous actions, through omission or intent, based on your perceived improvements.

Or it's all a bunch of nonsense.

Either way, it violates Matthew 6:5 and smacks of pointless hypocrisy.

Please keep it in the pews.

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Post ID: @p0+1k0bzthez

To the people and customers wondering if Fidelity has an Indian mafia that fires everyone but their own, primarily Whites, yes it’s true.

Of course, 90% of the time they hire their own.

Indian Mafia is for real at Fidelity. I’ve never seen anything like it and it would never be tolerated if others did the same.

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Post ID: @nt+1k0bzthez

I am stunned by the racist rhetoric in this thread by Fidelity employees and the hate being spewed to each other and about the company. I am also a Fidelity customer and the comment from another customer and (reported) employee to take your $2 account somewhere else is just shocking. Treating each other is bad enough but spewing your hate to Fidelity customers. Customer should find this despicable/completely unacceptable and move their assets elsewhere. You all don’t deserve to “manage” our hard earned assets. Grow up!

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Post ID: @n3+1k0bzthez

@ks, let's not forget Fidelity could've only use them to do the niche and highly skilled jobs but instead allow them to do everything from DBA, Service Now installation to social media monitoring... all of which abundance of Americans can do a better job.

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Post ID: @m4+1k0bzthez

I enjoyed working with my Indian colleagues while at Fidelity and they were always more sincere and welcoming toward me (as an American minority).

This country needs to focus on growing the pie and keep America a rich, restless nation with ever great opportunity. Population growth is not a bad thing and they contribute to the economy with their earnings.

Prayer:

LORD give us the strength to not resort to pettiness and anger in our times of discomfort but bless us with ever greater heart and imagination so that we may prosper and frolic in peace and prosperity in the World, your garden. Amen.

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Post ID: @kv+1k0bzthez

Its literally the stated policy of the government over there to export their excess population. Canada is in a crisis situation after the government allowed millions of them from this one specific country to enter at once. They do not believe in meritocracy and hire from their caste. The ones born here or who are a bit more cosmopolitan are OK-- the others are a nightmare. The idea behind their visa scheme was to fill niche or highly technical roles, but now they do everything and not well.

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Post ID: @ks+1k0bzthez

You have to give it to them for the tightly knit roaches network they built and operate:

  • Met a Fidelity coworker from a different BU at my neighborhood's BBQ party and chitchatted about possible collaboration. The next day, my boss's boss stopped by, thanked me for my idea and told me he'll take the lead. The coworker and my boss's boss are both "those" people.
  • Fidelity operates a hackathon for college freshmen which guarantees later internship opportunity. My son applied but didn't get in. His friend who is Pareto inferior got in, because his parents know the Fidelity employees managing the hackathon. Two out of three committee members of the hackathon are "those" people.
  • A dozen high school students get caught purchasing Biology class materials (including exams) and cheating with them. Many of them already got admitted to the local engineering university. None of them got punished as the dean of the engineering school and the high school collectively decided it's the best for every party involved. The students and the dean are "those" people.

I hate to be a "racist" but the actions of "those" people keep reinforcing the stereotype that they'll scheme everything to seize any opportunities available. Only when whites are reduced to a small minority we might start learning from them to only hire white.

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Post ID: @kd+1k0bzthez

@jv, no need to panic, as wherever you go, it's the same. American IT/Tech industry has the same (reverse) diversity problem (teams with 100% foreign nationals depriving locals of work opportunities). From Fidelity's competitors such as Vanguard, to retailers such as Walmart, Target, CVS, to big techs such as AWS, Linkedin... folks from certain region of the world are dominating IT/Software teams.

Don't think they're racist against any other race, just that they're primed to climb the corporate caste system. To that end, they lick the boots of those above them (regardless of their race) and enslaving those below them. Of course locals won't put up with them so whey they got the power to hire, they only hire their people. The net result is more than 70% of the tech teams in Fidelity are these people.

If it comforts you a bit, top rungs of the Fidelity org chart are 100% white. So for an average white, you're doomed. You can't get to the very top, and you refuse to sacrifice your work life balance to join the rat race of these people.

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Post ID: @ka+1k0bzthez

As a Fidelity customer I am horrified at the comments:

  1. Does Fidelity really have a racist culture?
  2. Is Fidelity really hiring on the basis of race or gender?
  3. If you are a (white) male are you limited at Fidelity?
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Post ID: @jv+1k0bzthez

Sounds like you s#ck at your job as a DEI associate. Stop the blame game and take responsibility for your performance and career.

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Post ID: @hb+1k0bzthez

How much proof if I may ask, @gh?

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Post ID: @gq+1k0bzthez

It's 5 pm Friday in the summer and I have started to get liquidated, as @b2+1k0bzthez suggested I should.

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Post ID: @gh+1k0bzthez

Wow, little bit shocked that my innocent suggestion triggered a war among the colors : ) But I was genuinely shocked when I first stepped in Fidelity's NC office. Mind you, I have wokred in five other American enterprises big or small, Fidelity is the first one that shocked me with the overrepresentation of one identity.

I have no problem with moderate amount of DEI for a little bit of white guilt and the fact that there is never a case where more than 70% overall and 100% for many teams and orgs are blacks.

Why it happened with the browns? You might counter just like blacks dominates in certain sports, brown domination in tech is because of their talents.

Definitely not so, working among them for little over a year, I came to the conclusion it's not the case in Fidelity. It's more of the case in other companies I worked for where Asians are the prototypical highly educated and truly smart ones. These folks in Fidelity succeeded or exceled (in their own words) because of: (1) Their Juggad mentality optimizes for short term showy stuff that impress. (2) They grind themselves to death to get ahead and (3) Their subservant attitude are too easy to "manage".

Unappreciative and self-aggrandizing at work is given, yet some posts below showed the menacing sides that I don't observe at work. Maybe the rat racing and brownosing are too much of pressure that needed to vent?

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Post ID: @eq+1k0bzthez

@ah who here doesn’t think they are overqualified?

Feel free to take your 2 dollar account and move along.

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Post ID: @cc+1k0bzthez

@aa please leave the firm.

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Post ID: @b5+1k0bzthez

The mediocre will always be envious which is precisely why whites must be dealt with once and for all. 100 million whites must be liquidated so that brown excellence can thrive.

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Post ID: @b2+1k0bzthez

Yes the problem is mediocre whites thinking they are entitled to have a country when they should be conquered by superior brown excellence.

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Post ID: @b1+1k0bzthez

White people do have countries. Go to fly over country.

The mediocre will always be envious and mediocre even if they label their envy and narrow mindedness a fight for meritocracy.

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Post ID: @b0+1k0bzthez

White people are not allowed to have countries and only exist to serve brown special interest groups

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Post ID: @az+1k0bzthez

We men would have an easier time getting hired if all the women were removed from the competition. Eliminate the parental leave benefit. We need the women at home birthing children.

.... that above, my friends, is the next stage in the anti DEI hysteria.

I feel for people not getting hired because I know how brutal it is to be sending in hundreds of applications and not getting even interviews, let alone jobs. The experience bitter white males go through minorities go through and its usually x10 worse as studies repeatedly show having a minority sounding name leads to a collapse in interview offers.

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Post ID: @aj+1k0bzthez

I was highly qualified for a role at Fidelity, years ago. I worked for a couple of investment banks. I did not get hired. Probably because I'm white. They wouldn't tell me why they declined to hire me.

I often consider transferring my retirement funds (and it's a good chunk of money) out of Fidelity after reading comments from Fidelity employees.

DEI really should go away. It's active descrimination. Sadly, I work for a company that keeps a diversity scorecard. Competency doesn't matter, only diversity. The company I work for is circling the drain.

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Post ID: @ah+1k0bzthez

It's hard to do that now as it has always been illegal to hire based on race, and rewarding hiring managers based upon racial quotas is also illegal. Most companies that promoted DEI were always careful in their wording to avoid outright discrimination, but some flaunted it and are being pursued in civil courts.

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Post ID: @af+1k0bzthez

I bet OP meant a different kind of diversity! The kind MAGA would want in tech teams.

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Post ID: @ae+1k0bzthez

Its hard to do that now with the anti-DEI hysteria from Trump. But when the pendulum swings back, as it always does, then something like this might work.

Another company, Microsoft, made it clear informally that those seeking their own promotions would need to show a track record of supporting inclusive workplaces in terms of hiring and promotion.

As a black associate who joined Fidelity directly out of college, I dont think its a great place in terms of leadership at the middle manager level. They tend to throw everyone under the bus, but minority associates especially so.

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Post ID: @aa+1k0bzthez

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