has eliminated roles in its enterprise cloud computing group, according to two people familiar with the matter, and the move comes after the group saw senior leadership exits earlier this year.
Boston-based Fidelity is one of the world's biggest asset managers, and also has massive brokerage and retirement plan operations. The job cuts come as brokerages and asset managers have been facing intense pressures when it comes toThe job cuts were first announced in October, one of the people said, and will be effective at the end of December. Business Insider could not confirm each location the cuts impacted.
Fidelity, which is privately held, has 10 regional offices and some 40,000 employees in North America, Europe, Asia, and Australia. It had assets under administration of $8.2 trillion, including discretionary assets of $3.1 trillion, as of November 30, 2019. The firm is helmed by chief executive Abigail Johnson, the third generation of the founding family to lead Fidelity.
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