| Topic Name: |
Getting into Fidelity |
| Message Name: |
You are not a Fidelity Insider Obviously |
| Date Posted: |
01/26/2006 |
| In Reply To: |
When a company of over 30,000 employees lets 15 of them go, that is called purging deadwood. Every company I ever worked for did this. Tell them they are laid off, give them severance and sign an agreement that they won't sue and part with them for ever. Sorry if that is you, but the fact is the company is adding people right here in the US every day. That is a fact as of this morning. As for Fidelity causing the dot com plunge or being responsible for people margining themselves to the hilt, again you have a sort of tunnel vision. Margin calls were causing some of the largest down days during this period, every brokerage had people calling day after day, as is required by law. I am not aware of any fines paid by the company, let's have a link and prove it. I see articles and headlines on Morgan Stanley, Prudential, Putnam and their owner Marsh-McClellan, Srong Fund, Pilgrim-Baxter, MFS, just keeps going; all paid big fines that affected their financial results. American Fund paid for giving backdoor payments to their favorite brokers from 12-1b fees. Even Vanguard got hit through some scandel involving Wellington Management. Still don't know what you are talking about except for some midget tossing and so far that investigation centers on specific former employees. Fidelity got Wells notices over 6 months ago and nothing has turned up over those 6 months. So where's the beef to you claims? People read the paper and see none of what you talk about. And you have no part or knowledge of the company's strategy, since you are an office rep. |
| Message: |
Fidelity terminates/lay-offs people in a way to avoid the headlines in the newspaper. There have been extremely talented IT people who were replaced by folks from India. Programmers who stayed and did not take a severance package were told they could no longer program - they were to become project managers instead. How many project managers does a company need compared to competent developers? If you want the facts, call the Division of Unemployment .... they have the lay off figures. Those who were let go are eligible for state-paid training because of the number of people laid-off and the type of people laid-off. That is, highly skilled technical people were cut ... not the incompetent people. So, do your research buddy before going after people!
|
|
