Company Lays Off Best Employees - Branch Representative Fidelity Investments Employee Review

Company recently completed mass layoffs that clearly targeted the older, longer-tenured, more experienced employees. Fidelity has made the decision that clients will be satisfied getting their retirement planning and investment advice from younger, cheaper, recent college grads rather than from loyal and experienced professionals. Morale is at rock bottom across the country. Benefits have been slashed. All benefits that were once the pride of the industry have been drastically cut or eliminated - no more pension, no more company match to 401K, drastically higher health insurance costs. With most recent layoffs, there can be no comfort in your job security. Dozens of 20+ year employees were lay off simply because their pay was higher. Many who were liad off were top performers with exceptional management reviews or were sales achievers. Decisions of who would be laid off was made far above any local, regional or area manager level. Management had not control of who and who would not be let go. Products are low cost but they are becoming more and more low performance. Fidelity was once the best in the field of equity mutual fund managment. This is no longer the case. Most of their funds are medocre at best. With over 300 funds, they will have a few towards the top of some lists but most are below average. The financial media has covered this extensively.