The Bad PlaceBoston.com | Fidelity reorganizes its workplace with new hires — and a few cuts by Beth Treffeisen
AI generated summary, Read the full article for complete information.
Fidelity Investments announced a broad restructuring that will bring on thousands of new hires while trimming roughly 1 % of its global workforce—about 800 jobs out of 80,000 associates. The reorganization focuses on revamping its technology and product teams to accelerate tool development, opening 2,000 positions (including 400 tech‑ or product‑related roles) and shifting about 25,000 roles to a new Technology and Product Operating model, with an emphasis on early‑career, hands‑on engineering talent. The layoffs affect a small portion of the staff, though the company has not indicated whether any of its roughly 6,200 Boston employees are impacted. This move follows Fidelity’s recent mandate for a five‑day in‑office schedule and comes as the firm manages $7 trillion in assets—up 19 % from the prior year—and plans to maintain its main corporate office while transitioning workers to a new Commonwealth Pier campus later in the fall.
