Fidelity to Cut 1,300 Jobs, More Layoffs To Come
The contraction continues: Fidelity Investments said today that it will eliminate about 1,300 jobs this month with more layoffs to come next year.
The firm has been hurt by Wall Street declines that have drained mutual fund assets, which in turn have diminished the fees Fidelity can charge to manage funds.
The cuts represent about 3 percent of Fidelity's workforce of 44,000.
-- Frank Ahrens
The Ticker is Twittering!
By
Frank Ahrens
|
November 6, 2008; 3:25 PM ET
Categories:
The Ticker
Save & Share:
Previous: Dodd to Wall Street: Here Comes the Regulation
Next: SEC's White Exits, Returns To Law Firm
The comments to this entry are closed.
No comments have been posted to this entry.