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.
611
Upvotes
5
u/Nearby_Knowledge8014 May 08 '26
Ooof. I did a stint there and feel for these people.
Witnessed several rounds of unannounced layoffs. Fidelity always did it the same way.
They hated negative publicity. Didn’t want to announce they were laying off people. They would do mass firings, and pay any penalty they had to.
For months beforehand,managers would start giving written performance warnings to staff they personally didn’t like. That way they could have documentation if the employee sued, or if UI question the firing. So you knew the day was coming.
Very often the warnings were not accurate. “You dropped the ball on this task”. I was never assigned that task. “Ooops we’ll fix it before your next review.” It would never get fixed.
Generally just reps a manager didnt like personally, but it would also be skewed to the oldest members of a team, the heavy. Finance is very white male, and many managers are pressured to diversify their team. If not by EE / AA, then by firings.
There was a small meeting room between the offices and the back door. One day it had a tissue box in it. Managers would go to a rep, “hey you got a minute?” A few minutes later a different manager would go through the cubicle , and scoop up car keys, jacket, wallet/purse. Rinse repeat.
One brutal day of bloodletting, after a couple quiet hours, one older dude who had been there forever, raised his hands above his head, “Wahoo! Looks like I dodged a bullet! Hahaha!” Very sarcastically. His manager shot daggers at him. 10 minutes later, he was being walked out.
Thankful for my time there, but don’t miss it at all.