Wall Street Journal Fund
, Jennifer Levitz picked up
on media reports (see The MFWire,
October 28, 2008) regarding possible
job cuts of as many as 4,000 at Fidelity
Company spokeswoman Anne Crowley declined to say whether
cuts were in the offing, but told The Journal that the company
is "very stable, and very strong, but certainly these
are extraordinary times."
Crowley said that overall, Fidelity's fund flows so far this year
are still in positive territory due to investors shifting their money into
fixed income and money-market products. In total, through September 30,
Fidelity recorded $28 billion in net deposits to its funds and so far this month, deposits were also up, according to Crowley.
Meanwhile, UK's The Times
reported that Fidelity is preparing to slash 400 jobs, or 10 percent of its workforce in the UK, Europe and Asia.
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