Fidelity - More Job Cuts

We discussed back in June 2008 that Fidelity cut 550 jobs. Well, as it turns out, it's time to clear more desks at Fido. Associated Press (via Yahoo! News) is reporting: "Fidelity to Cut NEarly 1,300 Jobs":

BOSTON – Fidelity Investments is cutting nearly 1,300 jobs this month and the mutual fund company says more layoffs are coming early next year.

Boston-based Fidelity said Thursday it will lay off about 2.9 percent of its more than 44,000-employee work force later this month. The company isn't specifying which of its far-flung locations will be affected.

A second rounds of layoffs is planned in the first three months of next year. Fidelity says the number of those cuts will be determined in coming weeks.
Fidelity says the cuts are a response to global economic conditions, and unsettled financial markets.

Job-seekers beware: There will be a flood of ex-Fido's soon!

Weekend DOL Update - Radio Silence at the DOL???

What's up at the DOL's EBSA enforcement division? They are normally prolific in their releases of enforcement actions each week but this week seems to be suspiciously slow.

One guess of mine is that Secretary of Labor Elaine Chao is wrapping up her work pending the transition/handoff of work to the new administration. This may be one reason for the slowdown.

Who knows?