Mutiny in Covington

This was deleted a couple weeks ago shortly after being posted, I've redacted all names to ensure it stays up this time

The inbound sales folks here in Covington have not been happy for a long time. Covington leadership understands this and plays empathetic in 1 on 1s, but they seem clueless on how to represent us towards Boston. And when you go to the other buildings, you can see the dead eyes within a lot of the Ops/Admin people, too.

The heart clearly isn't there for unionization in financial services. But how else do our frustrations reach Boston when they very clearly do not care? An open letter to the J** family? The awful decisions that Fidelity has been making lately(not even referring to the 2-week requirement) are very intentional. Combined with regional leadership who often doesn't know which awful direction Boston will decide to dictate next, the blame can't even be put on local leadership. But how do we hold Boston accountable? Rolling over seems to be encouraging it. I think a lot of us are at the breaking point of not caring what the optics of such an action would look like.

Everybody at the site was scared to speak up ten years ago.. and look what that fear led to. Fidelity(once a great employer under Ned) treats their people in ways that are not healthy or beneficial to their employees' lives. Just because other corporations do it, and may do it to a greater degree than Fidelity, doesn't give the firm a pass. They've heard we all bend the knee now, and it's not considered polite to stand up. Fidelity is not just a corporation, it's a family business. And ultimately, that family bears the responsibility of decency. And mid-career finance professionals aren't supposed to feel as targeted or as left out in the lurch as they do here in Covington.

What are the other regional sites going thru? Is it mostly Boston folks on this website? I'd like to cross-post this to Fishbowl but it seems like I would out myself very quickly on that platform. Signing up for it seems to be linked to all other social platforms.

Comment! It's anonymous!

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No one was happy, did you see the pulse survey results?

Speak up at the senior management meetings!! It is a great way to get put on the next RIF list - worked for me.

"dental plan?"

Lisa needs braces

Is Kentucky unionizing to get a dental plan?

did you not get bonus and profit sharing?

The culture most certainly has changed with the rotation in senior leadership's recent churn. Instead of remaining a standout private employer that places value on the employees it once was, now it feels as if the company is behaving like any other public company in which greed has taken over and little regard is paid to the employees that are actually generating the higher earnings Fidelity has experienced. Fidelity is playing games: for example last year switching employees from hourly to salary, from Fidelity's perspective it is a way to have a better handle on fixed costs vs unknown overtime wages but from the employees experience that move resulted in seeing no increase with income in 2024, now 2025 year-end salary increases are announced not even reaching 2% meaning 2025 no real increase and forget about keeping any pace with inflation. Many companies the game is for senior management to gain as much as they can for themselves while paying as little as possible to the mass of employees doing the actual day to day work. I'm not sure what Ay J succession plan is but this is still a family business & I question whether A**y is asleep at the wheel or actually supports this culture shift. The market is up significantly, new accounts, fee income & flows into managed accounts and 401K plans up resulting in a significant increase in earnings results. It's a tough pill to swallow when the CEO is a billionaire and the message being sent to the employees is that the company does not truly value their contributions unless senior management is trying to reduce head count which seems counterintuitive given the increased workload that has been passed on to everyone. I personally have been loyal to Fidelity and want to see Fidelity succeed but I would also like to share in financial success as well as opposed to the feeling of unvalued and taken advantage of which is the current feeling of many of the employees. I like how Fidelity sent out a Holiday email thanking everyone for their hard work and dedication, many of us were thinking I bet you are as you rake in your huge salary and bonuses while short changing everyone else. Soon Fidelity will be internally publishing year end results boasting of the success which for many employees that will be seen as poor taste and an overall slap in the face. I hope Fidelity reconsiders the messages they are sending out as I hate to see the company have rot from the inside out with all the resentment being felt in the field, Fidelity should strive to be the employer that treats EVERYONE well not just top management.

My experience is that people who want a union have never been in a union.

So what specifically is going on there for your group?

Thread regarding Fidelity Investments layoffs

Mutiny in Covington

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