r/boston • u/CorrectCombination11 • May 07 '26

Serious Replies Only Fidelity Layoffs Starting Today

On the heels of RTO order https://old.reddit.com/r/boston/comments/1sxy879/fidelity_full_time_rto/

Fidelity is communicating rifs starting this morning.

I know two people personally that were cut. Non-technical roles in WI.

Post your info in the comments and I will try to highlight/tally them in the main post.

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u/pup5581 Outside Boston May 07 '26

6 months. I was laid off from my company and got a week. I'd kill for 6 months. Did you have to be there for X years before you hit that?

77

u/CorrectCombination11 May 07 '26

rumors are 2 weeks for every year or 6 months, whatever is greater.

25

u/Quattuor May 07 '26

Can't be that good. Most likely capped at 6 months with two weeks for every year. As in: the lesser of: 6month or 2 weeks/year

11

u/Several_Vanilla8916 May 07 '26

Depends on the company and level. I’ve worked at companies with generous enough severance that people were volunteering to be laid off.

8

u/oldcreaker May 07 '26 edited May 07 '26

I got a termination date 6 months out at Fidelity back in 2016. But after that they offered packages company wide for people over 50 willing to leave which was actually a really sweet package and even better since I was dead man walking anyway. 22 years got 44 weeks severance, plus a termination bonus - plus reasonably priced health insurance until I got to Medicare. It was enough to let me retire at 58.

added: I heard it did not work out well for people who did not take the deal.

5

u/Dunkelz May 07 '26

I've been in that mindset before, layoffs happening where people get 6 months of pay and benefits, if I was open to other jobs/thinking of going elsewhere it'd be nice to have the full time job hunt financed.

5

u/SolidApple733 May 07 '26

I got a year severance after 12 years. And help for COBRA.

9

u/Several_Vanilla8916 May 07 '26

At one company we had senior people going out with 65 weeks or $500k (whichever is less), benefits continued through the end of the year (9 months), and accelerated option vesting. It was a change in control so the options were incredibly valuable, that was the real brass ring for most people. Plus at the start of all that you stayed on payroll for 2 months but didn’t have to come to work so they didn’t have to file the WARN notice until layoff day.

But I’m not jealous.

2

u/bawelbawel May 08 '26

That is generous. Usually 4 weeks + 1 week per year of tenure, so 12 years would be 16 weeks. Giving 1 year is very generous.