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Old 10-28-2008, 04:51 PM
32,497 posts, read 50,977,072 times
Reputation: 18379


rumor out that Fidelity will start to lay off back-office people next month and then more after Jan 1--maybe as many as 4K in all

think that might hit pretty hard in Westlake home office but probably area offices as well...

really unfair because most of the people being let go were not really involved in any decision making that led to market downfall--not that Fidelity was that over extended from what I understand--
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Old 10-28-2008, 11:47 PM
Location: Dallas/Fort Worth, Texas
4,185 posts, read 14,035,820 times
Reputation: 2644
Yes the rumor has been around for a few months. I think it's true. They have had to lay off some people before. As usual, like with most giant companies, those that are let go are the "small potatoes" not those that contributed to the problem.

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Old 10-29-2008, 09:06 PM
38 posts, read 103,018 times
Reputation: 22
this is very sad...FWIW I found that "Back East" when I had a career and was working, the higer ups would do massive damage to a corporation: like building a $200 million plant in Brazil, which totally flopped. everyone saw it was a nutty idea. everyone but the "big-shots" who got free plane rides on corporate jets to Brazil for golf, ocean fishing, etc.

the morons who planned this and allowed the failure were given fat bonuses and promoted.

shareholders stock took a hit.

guess who got the axe? yup--the worker-bees doing the higher-ups bidding.

I quit THAT place in a hurry!
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