MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Wednesday, November 12, 2008 Fido Workers Learn their Fate Fidelity on Wednesday sent out notices to employees that are affected by the layoffs it announced last week, Fidelity spokeswoman Anne Crowley confirmed to The MFWire. No fund managers or analysts are affected by the current layoffs. "Most of our business heads decided to do some cuts," said Crowley. The last day for affected employees will be Friday; they will remain on the payroll through the end of December. Fidelity announced last week that it will carry out a two-part headcount reduction, beginning with cuts affecting 1,300 employees, or 2.9 percent of its workforce of 44,400, this month (see The MFWire, November 6, 2008). The Boston Behemoth plans to make additional cuts in the first quarter of next year, the extent of which is not yet known. Printed from: MFWire.com/story.asp?s=19881 Copyright 2008, InvestmentWires, Inc. All Rights Reserved |