I’m hearing that we have another round of layoff in FI Technology. Somewhere around in Sep or year ending. This time only for contractors. Is it true and real ?
17 replies (most recent on top)
VP have no idea its all happening through skip level
what are people hearing about Talentsource contractors? Are they not being renewed at this point.
@r1 add your real name to your post.
How do I volunteer to get laid off?
@nr they are trying to put the toothpaste back in the tube with RTO. They can try because they think the job market is tough, but everything goes in cycles and the pendulum will swing back the other way and they will realize what they did to morale and the talent when it’s too late. We won’t forget that they did this to us when gas will be almost $5/gallon. Gen Z will job hop so they will have to adapt quickly to keep them. Boomers, Gen X and milllenials are biding their time and will hop when the time is right, meanwhile working our wage and quiet quitting. Not gonna worry about circle of excellence or any of that other dangling carrot stuff. We have seen how they are eroding our benefits little by little while the owner gets a gain of several billion.
@he cause nobody had kids prior to covid. LOL.
is it true that contractors are not being renewed? I've already heard a few that were not renewed but wasn't sure if it was a global policy or business unit specific.
@k3 the whole company is on a hiring freeze
Any one know when is Durham office started the full time conversion. I’m and few are on contractors since few years and manager always says Durham is hire freeze.
there is a push to not renew contractors and recs are now on hold until September or so.
@h7 - it’s going to affect people with kids the most. You won’t see everyone leave on 9/1 - it will be gradual as they find jobs that meet their family’s needs. Or some will wait it out until after bonus pays. There are far more people quietly planning rather than sharing that they are leaving. It does no good to tell a manager your plans. Let them scramble to get the work done until the hiring freeze is over. The survivors are the ones who suffer with the excess work load.
In my experience, constant layoffs are a thing here at Fidelity. Maybe people were lulled into a false sense of security with all the hiring in the COVID years. With all the threats about people leaving due to RTO it'll be interesting to see how many follow thru with that threat.
Does anyone know if this will impact Boston DevOps?
Fi has so many VPs , people who were full stack developer outside fidelity are now architect VPs, recruited by dinosaurs who don't have a clue what they are doing
Ya, with all the bonus and profit sharing that we don't get...nor the vacation time. You doink.
Who cares about contractors. They probably have earned too much already. They will be fine
Only place I am hearing about layoffs is on this site. Anytime I ask someone at a VP level, they say no, not this year. I tend to believe this site over anyone with a VP title though. It's not usually wrong.