Fidelity LayoffsFidelity investment is a name of an international mutual fund company, which is headquartered in Boston. There are number of investment management services by this company. In 2008 the company has announced that they are going to cut about 3000 jobs from which 1300 were took place in the same year and remaining will in the first quarter of 2009. This announcement was done on February 3, 2009.
The announcement was done by the Boston based Fidelity, which is one of the large asset management firms to announce the job cuts. In 2008 the Fiderlity has employed near about 44,000 people and succeed to manage only $1.24 trillion. The refusal directly affects the benefits of the mutual fund companies. However, the company said that the cost cutting will help and allow keeping it healthy. According to the company the cost cutting helps them to maintain the strong financial status but will also continue to provide the best products and services to their clients and customers.
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