Fidelity Cuts About 800 Jobs in Reorganization
The overhaul shifts Fidelity toward larger teams and early-career hires as it trims senior layers and says the changes will better support new tech tools.
- On Friday, Fidelity Investments announced plans to eliminate roughly 800 positions while hiring 5,300 new employees to revamp its technology and product-delivery teams.
- Fidelity is transitioning 25,000 roles to an "evolved model" by June 1, moving away from smaller, siloed squads toward larger teams built to move faster on projects.
- The job cuts represent roughly 1% of Fidelity's 80,000 global employees, with the company prioritizing early-career, hands-on engineering roles in what the spokesperson called a "difficult decision."
- Boston-Based employees must return to the office five days a week starting in September, while Fidelity prepares to expand into the Commonwealth Pier campus in the Seaport neighborhood later this year.
- Fidelity reported $7.1 trillion in managed assets in 2025, though that figure fell to $7.0 trillion in the first quarter of this year; the company confirmed artificial intelligence was not a factor in the layoffs.
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Fidelity laying off 1% of workforce as it evolves operations
BOSTON — Fidelity is set to slash roughly 1,000 jobs from its global workforce, even as the company looks to upgrade its technology and product delivery teams and mandates its Boston-based employees return to the office full-time. Amid rampant social media speculation, a spokesperson for the investment company has said that Fidelity is actually growing and that the changes to its technology and product operating model are not about cutting costs…
Fidelity laying off 1% of workforce as it evolves operations, Boston workers return to office
Fidelity will slash 1% of its global workforce, as the company looks to upgrade its technology and product delivery teams and mandates its Boston employees return to the office full-time.
Fidelity is cutting about 1,000 jobs, but hiring more than 5,000. What gives? - The Boston Globe
The reshuffling follows the news that thousands of headquarters employees at Fidelity will be expected to return to the office five days a week starting in September.
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