Handful of people told me that layoffs must be in the plans for FI. One group/segment is taking a week to setup new accounts and process TOA’s for their largest institution clients. How is that possible? Supposedly not hiring new permanent associates or backfilling those that leave due to stress. Even as they bring on new business . Is this true? And layoffs coming?
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What part of FI? Custody, Clearing, IWS, Middle Office?
Fidelity needs to pay more