Fidelity Shrinks Workforce Locally And Globally

The Boston Globe:  Boston based financier Fidelity Investments has cut its Massachusetts workforce by more than 25 percent since 2006.  Globally, it has shed some 10,000 jobs as well. Transfers, layoffs and attrition are all cited as reasons for the shrinking of the company’s staff from top to bottom, which went from 46,500 employees to 37,000 in the last three plus years.

One of the Bay State’s largest employers, Fidelity has managed to survive the turbulence of the U.S. economic crash and has emerged as one of the stronger financial leaders of not only the state, but also the country.  Part of its success comes, in part, from its leaderships’ willingness to work to improve the company’s overall efficiency of operations while not sacrificing customer service.  In fact, the company’s operating profit increased last year, something its competitors have not seen and it continues to hire new employees despite letting others go.