, which laid off 1,300 workers
this week (see
November 12, 2008), plans to cut 1,700 jobs
in the first quarter, according to media reports.
As in this week's layoffs, no fund managers or analysts would be affected by the Q1 reduction,
The Boston Globe
The company on November 6 announced a two-part
headcount reduction, but did not state at the time how many jobs will be trimmed in the second round of cuts (see
November 6, 2008).
On Friday, Fidelity president Rodger Lawson
employees via video conference that the two rounds of cuts
will affect a total of about 3,000 employees, or roughly 7 percent of the firm's workforce
The Wall Street Journal
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