Thread regarding Fidelity Investments layoffs

a picture of confusion and dissatisfaction

what an epic thread

No one is trolling. This is what the termination papers said.

You really have to ask yourself, wtf is wrong with me as a person, that I would decide to troll on a site where people who have lost their jobs or are worried about losing their jobs are looking for information.

You kind of have to wonder about Fidelity too, if this kind of id--t is employed there.

oops that = what

Hey can someone confirm/explain that "working on digital" actually means?

thx

Roger’s total was 21,328, now 21,037,

That isn’t true. I wrote down the week of March 11th, Abby’s total reports, and it was 82,707. It’s now 81,908.

march 14th. 95,700. now. 81,000. you do the math.

I’m an alum of the former PI and most of my colleagues who were working on digital were laid off; I guess they think the app is perfect and no more digital optimization is necessary (at least until another Robin Hood comes along and snatches away all the young investors again)

Ger whytee

Post from TheLayoff.com

Putting my data analysts hat on. There are three categorization criterias:

Employment Status: Full-time, Contractors
Visa: Yes (e.g. H1-b), No
WARN: Triggered, Not-Triggered.

And many distinct groups:

Contractors: not reported, no severance. Could've be gone by now.
WARN triggered: reported 700. Could've be gone by now.
WARN not triggered, Full-time, Non-h1b vasa: Could've be gone by now.
WARN not triggered, Full-time, H1b visa: Six months of leave-of-absence.

I think it will be around 1700 after all; 1000 international and 700 US

As of this morning (4/03) I still people that were part of the layoff on Who’s Who (they aren’t contractors) and the number is now at 81,898

Where you seeing 7k? Who’s who I know still has people with visa in it because they were given six months.

believe what you want. i don’t care

700, right, not 7k?

82,500 employees total, vs 83,289 recently.

The folks I knew were impacted were not showing up at all on Saturday if you did a search for them. On Monday they were back temporarily in who’s who but now they’re gone again.

It does look like 700-odd people.

looks to be around 7k drop firm-wide.

How are you all able to see the total number on Who’s Who? Also, I still see people on there who were part of the layoff (and are not contractors)

all impacted people who lost their job but were on h1b visa were put on on 6 months of leave of absence . So they will continue to show in system / numbers. But non visa people last day is 3/31.

Can confirm, those are the numbers showing. And the people who told me they were impacted are no longer in the system.

83,289 March 29 as of 6 pm down to 82,554 as of March 30 at 5:30 AM

Wealth ~ 1200 does not include any number from advisors / distribution side.

Typo in earlier message — They are not even counting contractors.

Agreed, only wealth business has 1200 as “eliminated” . Don’t even tell that is wrong or spread false news that people are misreading the document. Shut your mouth!! Wealth has 1200 people impacted!! Also, please note that they are even counting contractors there. Lot of scrum masters were contractors and their number is not reported!!

I would just caution you to reread the list. There are two sections of the list of titles and ages. The first section is those laid off and the second section is those NOT laid off. The first section is much smaller. With that said, I do still think the number in the news is underreported because it says 700 ‘jobs’ not 700 ‘people’ so they could be counting job titles not individual people (e.g., if 100 scrummasters were let go, it is counted as 1).

They were absolutely the people who were eliminated. I confirmed this with several people including my own manager.

Could it be that within the 5000 ~ 6000 job/age range listed, some positions are not the jobs eliminated but rather the current jobs within your Business Unit (BU)? I've heard conflicting information and would appreciate clarification. So sorry you are impacted that su-ks, I wish you all the best. @OP

I have a hunch Fidelity knows the loops and holes in many of the laws well. If they can put forward a lower number, it looks better. If they said "we laid off over 5000 of our US people", the company would take a larger hit.

Then again, Fidelity skirting the law may not be new news.

I believe you and I’m so interested to see the total number of employees showing on Fid Central on April 1. Right now it’s showing as 83,300, though 2 weeks ago it said 82,707. I noted the numbers of directs for each L2 also.

I just don’t get why they’re officially saying 700 when that’s easy to disprove.

This is the Original Poster -- if people don't believe me, ask the many of us who were laid off about this document.