Fidelity to Cut 800 Staffers as It Overhauls Tech, Product Teams

Fidelity Investments is dismissing about 800 personnel as it restructures its technology and product-delivery teams, with plans to hire several thousand more people, including junior employees.

The changes, affecting about 1% of the global workforce, are about getting “the right combination of skills in place for where Fidelity is headed,” a spokesperson for the Boston-based firm said in a statement Thursday. The company is looking to make more room for early career, hands-on engineering roles and streamline its senior leadership ranks.