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, March 16, 2011 New Hampshire and Rhode Island Lure Fido Jobs Fidelity [see profile] is pulling up its roots from one Massachusetts location. The Boston Globe reports that the Boston-based mutual fund giant will close its roughly 1,100-employee, 700-000 square-foot Marlborough operation by the end of 2012, moving most of the jobs to existing operations in Merrimack, New Hampshire and Smithfield, Rhode Island in a bid to reduce its New England major office count from four to three. The Boston Herald also covered the news. "We have long believed in expanding geographically," a Fido spokeswoman told the Globe. "We're not the same firm we were 65 years ago." According to the Globe, most of the Marlborough jobs are in the Personal Workplace and Institutional Services side of Fidelity, which includes brokerage and 401(k)s. The Globe estimates that the move will leave Fidelity with about 7,300 employees in Massachusetts, down from 13,000 in 2006 and 8,400 now. (The entire company has about 37,000 employees across the globe, compared to 46,500 in 2007.) Printed from: MFWire.com/story.asp?s=36274 Copyright 2011, InvestmentWires, Inc. All Rights Reserved |