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Fidelity Plans 250 LayoffsAssociated Press
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February 1, 2008
BOSTON - Fidelity Investments plans to lay off about 250 people as part of a restructuring and merger of some of the mutual fund company's units. The cuts are less than 1 percent of its total work force.
The layoffs are in the company's technologies division and two units being combined that handle 401(k) plans, savings accounts and health care arrangements for corporate clients, spokeswoman Ann Crowey said Friday.
She said about 100 of the jobs being lost are in Massachusetts with the rest spread out across the country.
Fidelity still has about 46,500 employees, including 12,700 in Massachusetts.
The company has about $1.6 trillion in assets under management.
http://www.forbes.com/feeds/ap/2008/02/01/ap4603289.html
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