Fidelity To Lay Off Hundreds In Boston

[0:00] ..." Concern of the layoffs jobless claims are up now investment giant fidelity is trimming its work force hundreds of workers here in Massachusetts will feel the pain. Those pink slips are going out of"...

[0:14] ..." And I'm Lisa Hughes fidelity says troubled world markets are forcing changes in the way it operates and fidelity is one of our State's biggest employers take -- live in downtown Boston right now I'm -- unfortunate this could just be"...

[0:28] ..." only round one and for the reason why look no further than fidelity itself for the -- there the markets. They had been unstable red again today a lot of red there today so unfortunately companies are tightening their belts it is trickling down. So here is the bottom line for fidelity in Massachusetts. 320. People will lose their jobs this month. Company wide thirteen hundred people lose their jobs. And this is just the beginning they will do this again in the first quarter of next here I spoke with people today from fidelity and they."...

[1:11] ..." As we could check -- is hopeful her job at fidelity as a systems analysts is safe for manager sure -- today. After news fidelity is laying off thirteen hundred people company why."...

[1:52] ..." on the global economic conditions at the unsettled nature of the world stock markets. Saying these are extraordinary times while fidelity remains strong and growing. Prudent management warns that we carefully examine all of our costs. And that includes a workforce of 44400."...

[2:21] ..." We have that it hasn't had some help coming home. But the fidelity customers we talked to say they are still confident in the company. As for the first rounder lance doesn't happen by the"...

[0:00]" Concern of the layoffs jobless claims are up now investment giant fidelity is trimming its work force hundreds of workers here in Massachusetts will feel the pain. Those pink slips are going out of the end of this month. Good evening I'm --"

[0:14]" And I'm Lisa Hughes fidelity says troubled world markets are forcing changes in the way it operates and fidelity is one of our State's biggest employers take -- live in downtown Boston right now I'm -- unfortunate this could just be the beginning."

[0:28]" Jack this is only round one and for the reason why look no further than fidelity itself for the -- there the markets. They had been unstable red again today a lot of red there today so unfortunately companies are tightening their belts it is trickling down. So here is the bottom line for fidelity in Massachusetts. 320. People will lose their jobs this month. Company wide thirteen hundred people lose their jobs. And this is just the beginning they will do this again in the first quarter of next here I spoke with people today from fidelity and they."

[1:11]" As we could check -- is hopeful her job at fidelity as a systems analysts is safe for manager sure -- today. After news fidelity is laying off thirteen hundred people company why."

[1:48]" The company isn't talking that releases statement blaming the cuts on the global economic conditions at the unsettled nature of the world stock markets. Saying these are extraordinary times while fidelity remains strong and growing. Prudent management warns that we carefully examine all of our costs. And that includes a workforce of 44400. People which they say will be cut by two point 9% this month alone. And another round -- or early next year."

[2:17]" It on not just in Boston but all over the world and nonsense like that. We have that it hasn't had some help coming home. But the fidelity customers we talked to say they are still confident in the company. As for the first rounder lance doesn't happen by the end of this month -- we are told will happen in the first quarter of next year however. They are still finalizing just tell many layoffs will happen then. We should know more they say in the next couple of weeks. Live in Boston Kate -- easy aspects -- the."