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Friday, June 05, 2009

Fidelity Lays Off in Merrimack

News summary by MFWire's editors

Forty five human resources staffers and an operations executive have reportedly just left Fidelity. Layoff Tracker reports that Fidelity Investments has laid off 45 more people in Merrimack, as part of a changing business strategy for Fidelity's HR division.

According to Layoff Track, The layoffs affected the company's human resources division. This is the third round of layoffs for Fidelity since last year (see The MFWire , 5/06/08).

* * *
Reuters reports that Marvin Adams, head of Fidelity's technology and real estate operations is bidding the mutual fund giant goodbye. Adams joined in December, and oversaw its shared services division.

"Marvin Adams has done a first-rate job and indicated that he is leaving to seek new challenges elsewhere," a Fidelity spokeswoman told Reuters. 

Edited by: Meredith Mazzilli

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