Mutual fund manager Fidelity Investments said Friday that it will cut 1,700 more jobs in the first three months of 2009 in the latest round of cost cutting. (CNN)
In other news
Kenworth lays off 400 (Link)
And did we mention Sun?
No CommentsFidelity 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 far-flung U.S. operations, affecting management positions as well as lower-level jobs, said Anne Crowley, a spokeswoman for Boston-based, privately held Fidelity. No fund managers or analysts are being laid off, she said. (AP)
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