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Tuesday, February 3, 2009

Fidelity Investments Layoffs 2009

The worlds largest Mutual Fund Firm, Fidelity Investments, will be doing another round of layoffs this Tuesday in order to cut its work force by up to 7 percent. According to Anne Crowley, a Fidelity spokeswoman "Today and over the next several weeks, we will proceed with the second layoff we announced last fall".

These 2009 layoffs are most likely due to the economic crisis that caused investors to pull billions of dollars out of mutual funds last year.

These job cuts will likely be worse than the ones in November, which left 1,300 people laid off.

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