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Fidelity Investments Will Eliminate 1,700 Jobs in First Quarter

Fri, 14th November, 2008 - Posted by Joshuah

Source: Bloomberg.com

Fidelity Investments, the world’s largest mutual-fund manager, will eliminate about 1,700 jobs in the first three months of 2009, after announcing the dismissals of 2.9 percent of its employees last week.

Together, the 3,000 job cuts represent 7 percent of the workforce, Anne Crowley, a Fidelity spokeswoman, said today in an interview. Boston-based Fidelity has 44,440 employees.

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Category : Economics