#rif

New direct labor ZERO OT policy is an operational disaster waiting to happen. It wasn’t built on output data or bottleneck reviews, yet site leaders are threatened with performance mgmt if deliveries slip. Requiring personal approval from unresponsive executives for every labor exception isn’t management- it’s creating a bottleneck in itself.

Any word on how many?

I know we're all scared, I am too, but don't take what you read on an anonymous forum at face value.
There is no firm proof. Saying "I'm a people manager" anonymously is like saying "my uncle works for Microsoft" on Xbox live.
Fact of the matter is, if you are on a list whether it exists or not, there is nothing you can do about that until it is communicated to you allegedly in 2 days.
If you want to plan for the worst, great, not a bad idea to have a backup plan regardless of a RIF. Please don't let anonymous Internet posters scare you into getting sick over a possibility. Take a breath.

Do we know anything?

Will there be any more RIFs in Value?

My understanding is there will be another round of layoffs end of this month with the end date being middle of June. It is possible it slightly gets pushed back but from what I’m hearing they want the list locked and announced end of month. Optum insight and optum health for sure will be impacted.

Have that resume ready. It is
Not your fault. You all deserve a better company to work for.

Like many folks at Fidelity, most people don’t have a separate QCI meetings but those managers randomly schedules a QCI this Thursday can only mean one thing. RIF. The RIFs have been verified by multiple sources who have access to high level management. I got the random QCI invite this morning which coincides with managers getting the list of people on the list. Stay strong. Nothing we can do but move forward and hope Abby can catch up to the 3 trillionaires in the world while destroying countless families who have elevated her there.

The consensus seems to be this Thursday. I haven't heard much beyond that. If the rumors are true, does anyone know which orgs or roles are on the block?

And more next week? Is that the actual timeline? Just piecing together rumors and posts.
Good luck to everyone.

Following up on a previous post about Directors being required to list what they do to earn their paychecks. Anyone heard anything new on this? "Was asked to put in four bullets what my role is with metrics supporting it? Can’t say “Oversees” or anything high level. Is Director level being hit next?"

It seems like the roles impacted are only tech and agile.

What would be the reason to bring the whole company back other than phones, if there’s no RIF impact?

Based on what’s posted here if there’s so many groups with zero impact. Why make everyone miserable just to slash tech?

The July action will be the biggest reduction in force to date.

What do you think that means after 13k rifs. More rifs!!!

The concept of “reverse diversity” came to me during this chaotic RIF and ReOrg. Apart from architects and data scientists, it is the third problem Fidelity must fix.

If you have a team with 100% African Americans in tech, it’ll be odd. 100% African Americans in an NBA team, not odd. 100% whites in a tech team? Not diversified but also not odd. How do you rationalize the oddness of team diversity?

• Merit. If a team is not diversified because the only talents is from one origin, it’s not odd.
• Population. If a team composition (roughly) mirrors that of the population, it’s not odd. That’s why a 100% white team is not that odd in a white dominant society.

With this understanding, now think about the 100% Indians teams? (Of course I'm exaggerating to make a point but not far from reality). 100% Indian teams is such a commonplace in Fidelity tech that it’s not odd at all. There lies the problem.

• Are all the Indians on the team “talents”? Certainly not! Most are average or below average hired by fellow Indians.
• Are Indians the dominant ethnicity in America? Certainly not! A population minority dominates Fidelity tech.

Hence what we need is reverse diversity. Those 100% Indian teams need to be diluted to make them roughly mirror the population outside of Fidelity tech.

My department has a lot of deadweight and has been toxic/hostile since the start of the pandemic. I was hopeful there would be some clean up with the RIF but it doesn’t seem like we’re part of it since most of us are low level.

The head of my department appears to have been publicly demoted but that seems like the only impact. We’re back in the office full time but we’re not developers or project manager. What’s the point of us going back full time if the in office weeks will stay the same?! It’s impossible to get work done in the office because of how bad the culture is.

I’m kind of devastated. I was honestly hoping for better days after how much of an impact the last few years have had on my health.

Abby, you win. I am going to try to leave. I woke up thinking about how bad things are.

Anyone lose their jobs in credit balance? God I wish they would lay me off.

Checked with claude, they may save $600 M per year ongoing basis if they get rid of 10 percent people.

They are paying double for Mainframe and Cloud. Also schwab is much leaner at just 35k employees.

They may want to hire talented developers who recently laid off from Amazon or Meta.

Confirmed 5% RIF including Dinosaurs who would be forced to retire.

I don’t think there’ll be massive layoffs. Big ones are in the news like Meta dumping 8000. This is not a big RIF. My dept is barely hanging on with work we’re so slammed, so there’s no way there’s cuts. Not at the level going on here with speculation.

Anyone have info on how long they will give those who are laid off to stay in their role? I know sometimes it’s security walking people out that day, other times you can work for a few more months while you try to find another job.

I was told Architects are so special and loved by sr leader that they always survive RIF

long time coming?

People are getting informed now if their role has been eliminated.
5/5 will be official announcement.

Some are saying RIF’s are BS. I believe the opposite.

https://www.lightreading.com/ai-machine-learning/ai-mad-verizon-to-continue-with-cuts-after-ceo-s-jobs-warning

... are a sign of impending RIF. Anyone seeing meetings or L3 travel abruptly cancelled?

Seems Apr 30 RIF was all just rumors.

hi,
Hoping anyone impacted today might find this thread and post whatever info they can for the rest of us anxious souls.
Good luck everyone! ❤️

Over hiring in past 5 years
AI is coming
Space is limited
100% in office is coming
RIF coming to go back to headcount 65~70K

in all the chaos today there are now rumblings that with RTO impacting the campus, boston dev ops is first on the block

The rumor-mill has been surging - lots of people in Santa Rosa and one of the Galway sites (not Parkmore) are having a lot of anxiety. Everyone is talking about it, but no confirmed sources. Speculation is some announcement May 4th-6th.

Thoughts on recent all hands and VS future with hopefully F2 and F3 operational?

Are there any specific performance review for leadership? Rooting for RIFing Girish?

Are all of them who have been given 4 (no pip) this year and rif'ed later are ineligible for rehire? If anyone is hiring manager here confirm it?

When do you get the meeting invite from your manager? How long does the meeting usually last?

not till monday, make us suffer over the weekend?

just for the 'fun' of it?

at least MD gave the all clear for riffs on Tues, then we at least knew we had a job, lateral move, in some cases a raise.....but this nothing till Mon?

guess we wait.

seriously this place....

Some true RIF, some positioned as "remote roles no longer remote, take it or leave it". All areas of company affected.

If people donate to the PAC do you guarantee they don't get RIF'd?

Sounds like all departments in both companies have been told the last two levels of Orgs will be settled in late May through June. This means mass layoffs at this time. Curious if anyone is being told different, later in the year etc.

I know some at the Director level are not being retained and are already aware

Are the RIFs really expected to be worse than usual? There’s always some level of reduction in force, but a lot of what’s being said doesn’t seem grounded in anything concrete. It’s hard to imagine them cutting a third of OI or Health with so many active projects underway. I also haven’t heard anything from our controller or VP that would suggest cuts on that scale, nothing. I wonder if they pull names out of a hat…

Anyone hear anything about SAI? RTO or RIF?