{"id":2831,"date":"2026-05-08T19:31:49","date_gmt":"2026-05-08T19:31:49","guid":{"rendered":"https:\/\/siliconvalleymovingpost.com\/?p=2831"},"modified":"2026-05-08T19:31:49","modified_gmt":"2026-05-08T19:31:49","slug":"fidelity-laying-off-1-of-workforce-as-it-evolves-operations","status":"publish","type":"post","link":"https:\/\/siliconvalleymovingpost.com\/?p=2831","title":{"rendered":"Fidelity laying off 1% of workforce as it evolves operations"},"content":{"rendered":"
\n

BOSTON \u2014 Fidelity is set to slash roughly 1,000 jobs from its global workforce, even as the company looks to upgrade its technology and product delivery teams and mandates its Boston-based employees return to the office full-time.<\/p>\n

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Amid rampant social media speculation, a spokesperson for the investment company has said that Fidelity is actually growing and that the changes to its technology and product operating model are not about cutting costs.<\/p>\n

About 25,000 roles are transitioning to the so-called \u201cevolved Technology and Product Operating model.\u201d<\/p>\n

\u201cAs part of this transition, we made the difficult decision to eliminate the roles of roughly 1% of our workforce,\u201d the spokesperson said in a statement shared with the Boston Herald on Thursday. \u201cAt the same time, however, we are planning to hire nearly twice as many software engineers, in addition to the thousands of open roles we are actively recruiting for today.\u201d<\/p>\n

Fidelity has a global workforce of 80,000 employees. It was not clear Thursday evening how many of the company\u2019s 800 to 1,000 layoffs are targeted in the city.<\/p>\n

The company is offering severance, health care benefits and career transition services to those affected.<\/p>\n

To support the new operating model, Fidelity has over 2,000 open roles, including 400 in tech- or product-related roles. The company is looking to hire 1,300 additional employees in these roles by the end of the year.<\/p>\n

Hands-on engineers are a target of the openings, with Fidelity looking to hire nearly 2,000 new early-career, hands-on roles.<\/p>\n

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\n<\/div>\n

\u201cThese changes are about getting the right combination of skills in place for where Fidelity and its customers need them most,\u201d the spokesperson said. \u201cThis means creating more room for early career, hands-on engineering roles and streamlining management layers.\u201d<\/p>\n

The transition has already begun, and starting June 1, all technology and product roles will be operating in the \u201cevolved model\u201d to help Fidelity accelerate development of products and capabilities, such as a new web experience for active, self-directed investors and traders.<\/p>\n

\u201cFidelity is continuously improving its working model to best position ourselves to meet the evolving needs of customers,\u201d the spokesperson said.<\/p>\n

This comes after Fidelity announced last week that it is bringing its Boston workforce back to the office full-time in September, two years after the company required employees to be in-person for two weeks out of every four.<\/p>\n

\n<\/div>\n

The company also looks to keep its main corporate office on Summer Street as it transitions workers to a Commonwealth Pier campus in the Seaport<\/p>\n

\u201cFidelity\u2019s belief is that being physically together creates more opportunities for a meaningful associate experience filled with connection, mentorship, and learning \u2014 elements that are central to our long-term success,\u201d the company said in a statement last week.<\/p>\n

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Fidelity will slash 1% of its global workforce, as the company looks to upgrade its technology and product delivery teams and mandates its Boston employees return to the office full-time.<\/p>\n","protected":false},"author":1,"featured_media":2830,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19,2],"tags":[],"class_list":["post-2831","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-facts","category-news"],"yoast_head":"\nFidelity laying off 1% of workforce as it evolves operations - Silicon Valley Moving Post<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/siliconvalleymovingpost.com\/?p=2831\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fidelity laying off 1% of workforce as it evolves operations - 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