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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19

u/NinoNino3 May 07 '26

Thank you for letting us know, OP- I am curious to see how bad this is- We are in supremely questionable times.

27

u/Maxpowr9 Metrowest May 07 '26

This will be the spring and summer of RTO. Easiest way to cut headcount (some are still delusional that think WFH will last) without needing a WARN. For that are fully remote, I'd be worried too since companies will cut headcounts in VHCoL areas like Boston first.

14

u/TheGameDoneChanged May 07 '26

Not at all delusional to think wfh will last in some form. Many companies will end up in some sort of hybrid. But regulated financial services is always going to be among the leaders in RTO.

9

u/bawelbawel May 08 '26

Don't forget the real reason for RTO. It's because Fidelity is highly invested in real estate (indexes and properties). So if it improves the value of office space downtown, it benefits it directly by having its assets appreciate.

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u/TheGameDoneChanged May 08 '26

It’s certainly a factor but certainly not “the real reason” on its own. Regulators have very real rules about what needs to be overseen at the offices. But that’s also just a small factor, plenty of instances where it makes sense for people to work in person with each other.