Fidelity Investments Cuts 700 Jobs in First Layoff in Seven Years

According to PANews, Fidelity Investments has laid off approximately 700 employees this week, marking the company's first job cuts in seven years. A spokesperson for Fidelity stated in an email on Friday that the move affected less than 1% of the workforce. As of the end of last year, the company had around 74,000 employees. The statement also mentioned that Fidelity is still hiring, with nearly 2,000 open positions in 'key business areas'. This indicates that the company is continuing to grow and expand its operations despite the recent layoffs.