IN BUSINESS: Fidelity plans staff layoffs
Published: November 7, 2008
Fidelity plans staff layoffs
Fidelity Investments said Thursday it will cut nearly 1,300 jobs this month, with more layoffs to come early next year, in response to declining markets that have eroded mutual fund assets along with the fees Fidelity earns from its core business. Layoff notices will go out to about 2.9 percent of Fidelity’s overall work force of 44,400. The cuts will be spread across the company’s U.S. operations. No fund managers or ana-lysts are being laid off, she said.
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Toy maker will cut jobs
Mattel Inc. said Thursday it is cutting about 1,000 positions worldwide because of the economic downturn that is clouding the holiday outlook for toy makers. Mattel said the positions amount to 3 percent of its worldwide work force and will reduce its professional and management staff by 8 percent. The company said the cuts will not affect holiday toy production.Toolbar sponsored by: David Stanley Ford
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Culture and Lifestyle, Business, Financial Markets, Economic Indicators, Jobs and Labor, Labor Market, Layoffs and Downsizing, History, Economic History, National Economy, Job Losses, Mutual Funds, Toys
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