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Thank you. Yes, Fidelity relocated us from MA last November. Hope your family wont be affected by round 2.
It was mostly employees within the Principal, Director and VP job grade. Principals are not upper management though. My dh was a principal software engineer/systems analyst, an average Joe ... with a very average salary to prove it Severence + extras should carry us about 9 months, medical etc. till May. Plus he'll still receive the tuition reimbursement for his last 2 classes needed to obtain his masters.
Still, it sucks BIG time. As I mentioned, weve only been in NC for a year, so no real support system in place.
I'm surprised to hear it was IT related. Those are about the only type of jobs they are posting these days. That being said it seems like a lot of entry level posts. Sorry about your news. Glad you got 9 months.
Sony Ericsson laid off more than half of their workforce a month or two ago.
I think Glaxo Smith Kline laid off a bunch of people.
Nortel...
These are scary times.
what is really scary is that Fidelity have laid off people they relocated to RTP a year ago and they may well have thought that they would be safe from any restructuring and took on bigger financial comittments than they otherwise would have done. Also, as someone else mentioned they would not have had time to build any support networks in this area which is even more stressful - very scary times indeed
Well, Fidelity had their first round of layoffs today. Not sure of the numbers, but it affected NC employees, incl my Dh
He should a much better than average chance of finding a position because he is in IT. So sorry about the layoff...I have been there and it doesn't feel good! All the best to you!
Have him check out the state...ITS would be worth a look.
what is really scary is that Fidelity have laid off people they relocated to RTP a year ago and they may well have thought that they would be safe from any restructuring and took on bigger financial comittments than they otherwise would have done. Also, as someone else mentioned they would not have had time to build any support networks in this area which is even more stressful - very scary times indeed
Yes. Sony Ericsson did something similar. They hired about a dozen engineers away from Nokia in Irving TX (I was one of them) to come here to RTP. That was 2-3 years ago. Nearly all of them were laid off last month (again. . . including me).
They had just finished installing brand new office furniture on all floors of their building. The cubicles were sized smaller so that they could jam more people into the same space. Facilities was told that they needed to fit lots more people in the building because of anticipated hiring. They were considering restriping the parking lot to make the spaces smaller to fit more cars. Now that building sits half empty.
MammaLakn, I feel your pain. Fidelity relo'd us here from MA in October 2007 through my husband's job. (I worked there too but my group would not relo me so I had to quit). Two weeks after we got here (yes, 2 weeks) they laid him off. Good times. We knew no one here and had no idea what were were going to do. Fortunately, the week before Xmas he landed another position within the company - only to be laid off again 5 months later. Yep, laid off from Fido twice in six months. The second time at least we were prepared and he was relieved to be out of there. Fidelity certainly isn't the same company that I grew up hearing about. Now, my husband is back at his old company (but in the NC office) and I've had to take a night job to make ends meet. Thanks Fidelity! Fortunately, we wanted to move here so we look at it as them paying for us to get out of MA. I wouldn't hold my breath waiting for the new headquarters to be built. Seems pretty unlikely at this point!
MammaLakn, I feel your pain. Fidelity relo'd us here from MA in October 2007 through my husband's job. (I worked there too but my group would not relo me so I had to quit). Two weeks after we got here (yes, 2 weeks) they laid him off. Good times. We knew no one here and had no idea what were were going to do. Fortunately, the week before Xmas he landed another position within the company - only to be laid off again 5 months later. Yep, laid off from Fido twice in six months. The second time at least we were prepared and he was relieved to be out of there. Fidelity certainly isn't the same company that I grew up hearing about. Now, my husband is back at his old company (but in the NC office) and I've had to take a night job to make ends meet. Thanks Fidelity! Fortunately, we wanted to move here so we look at it as them paying for us to get out of MA. I wouldn't hold my breath waiting for the new headquarters to be built. Seems pretty unlikely at this point!
Another 1,700 jobs will be cut early next year at Fidelity Investments, bringing to 3,000 the total number of positions eliminated as the Boston-based financial giant deals with the aftershocks of the subprime-mortgage fiasco.
Fidelity, which last week acknowledged general layoff plans without giving details, began firing 1,300 workers earlier this week.
But Fidelity told nervous employees yesterday that the second round of cuts early next year will be even more severe, with an additional 1,700 positions slated for elimination.
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Severence + extras should carry us about 9 months, medical etc. till May. Plus he'll still receive the tuition reimbursement for his last 2 classes needed to obtain his masters.
