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Rating:Fido Cuts Former FESCo Units Deeper Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, February 01, 2008

Fido Cuts Former FESCo Units Deeper

by: Erin Kello

Yesterday, Fidelity said that it would be making another round of 250 job cuts from the units that were previously part of Fidelity Employer Services Co., the Boston Globe reports.

The cuts will affect 100 Boston-based employees. FESCo was restructured by Fidelity's president Rodger Lawson who put the emphasis on lower prices for customers.

The official word the pub got from Fidelity spokeswoman Anne Crowley, is, "the recent merger of our workplace investing and retail divisions created opportunities to reduce some duplication and align resources."

This is the second cut in three months from the units that were formerly part of Fesco, in November Fidelity made 200 job cuts from the same areas. 

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