Thread regarding Fidelity Investments layoffs

Not enough work

Things have slowed down significantly in my BU to the point where there is not enough work to go around for the number of people they hired.

A similar thing is happening where I am (unless we're by some unlikely coincidence the same BU). Is this a company-wide thing? What's the point? To get new people in, have them learn from us, and then lay us off because we make more?

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| 2931 views | | 10 replies (last August 9, 2023) | Reply
Post ID: @OP+1ml2P89Y

10 replies (most recent on top)

Scale up then scale down. Happens at every company that is growing or needs to complete a big tech project. We’re all enjoying the scale up now. The scale down happens when growth slows or the tech project is complete. Get your resume ready.

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Post ID: @1Gnig+1ml2P89Y

Same, my group is slow, automating a lot. Used to have tons to do all the time which is nice if you’re hourly. Now we have next to nothing plus other changes that have made this worse but oh well. Guess we work on development and the next step while waiting.

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Post ID: @Nrrt+1ml2P89Y

Yes, stop outsourcing your work here. It interrupts our day at the pub.

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Post ID: @aavu+1ml2P89Y

Everything is being outsourced to Ireland. This needs to stop

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Post ID: @9edd+1ml2P89Y

OP this is the circle of business life. Out with the old overpaid in with the new cheap labor. Happens domestically or in India, wherever they can save a buck. Sorry you are not busy, probably a good idea to have your resume updated.

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Post ID: @5gni+1ml2P89Y

Are the trash cans full of tumbleweave?

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Post ID: @1wet+1ml2P89Y

My BU is super busy. We are constantly booking conference rooms and ba----g things out and hard. There's always someone screaming, pulling hair and trying to get on top.

I wouldn't want it any other way

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Post ID: @1fqs+1ml2P89Y

Are those UX participants, or participants of some other sort?

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Post ID: @pap+1ml2P89Y

My group which works with participants is swamped.

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Post ID: @suu+1ml2P89Y

I have heard this is PI’s initiative, to not run so thin on staffing. They have not addressed if this will cause layoffs of course. Ai is bad.

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Post ID: @moq+1ml2P89Y

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