Thread regarding Fidelity Investments layoffs

People are becoming meaner

Is it just me, or are others noticing how everybody is becoming genuinely mean for no good reason? I know nobody likes working here and the stress is sometimes unbearable, but why do some use that as an excuse to bully their coworkers? We're all in this together, for goodness sake.


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| 80 views | | 8 replies (last 1 day ago) | Reply
Post ID: @OP+1m6kr92e6

8 replies (most recent on top)

@ag can confirm, i became a victim, even though Ive been top 20%. Im pretty sure I got cut for my accommodation arrangements.

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Post ID: @19z+1m6kr92e6

@ag Stack ranking/common judgement doesn't mean the bottom 10% are automatically PIP'd or let go. It also drives bonus $$ allocations as well. That being said, when a reduction in force IS called for, those at the bottom of the rankings are one of the first places management looks when deciding who is impacted.

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Post ID: @ep+1m6kr92e6

My department was like that for years. They had to get rid of a few managers to fix the culture. HR is slower than a snail in glue but they allegedly do stuff to fix things.

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Post ID: @cv+1m6kr92e6

@a6 Essentially a bottom percentage of all employees under a manager will be PIPed or laid off. I think I typically see 10 percent.

In the stack ranking model, it doesn't matter if everyone met every single one of their goals and did perfectly what was asked or even went above and beyond, a bottom percent has to be identified and PIPed/RIFed.

So basically, to survive, you are incentivized to push down your teammates as opposed to working with them, because if you have the perfect team you will lose x% of them regardless.

Hunger games, essentially. It's the beginning of the end.

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Post ID: @ag+1m6kr92e6

Morale is in the tank but HEY at least there’s people keeping the seats warm.

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Post ID: @ac+1m6kr92e6

@a5 What is stack-ranking?

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Post ID: @a6+1m6kr92e6

@a1 yes fid does stack rankings but internally refers to it as "common judgement"

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Post ID: @a5+1m6kr92e6

If the organization does stack ranking, then there is no incentive to be supportive of your teammates. In fact, the opposite.

Do they do stack ranking there? (Not an employee at this org)

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Post ID: @a1+1m6kr92e6

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