Fidelity International

Type
Internal restructuring
Country
United Kingdom
Region
Location of affected unit(s)
London, Kent, Surrey
Sector
Financial / Insurance/ Estate
64 - Financial service activities, except insurance and pension funding
64 - Financial service activities, except insurance and pension funding
64 - Financial service activities, except insurance and pension funding
200 jobs
Number of planned job losses
Job loss
Announcement Date
13 October 2008
Employment effect (start)
10 October 2008
Foreseen end date

Description

Fidelity International, a fund manager, has announced that it is to cut up to 200 of its 2,000 UK staff. The company has offices in London, Surrey and Kent in the UK, although it has not been announced how many jobs will be cut at each site or when these cuts will be complete, although as of 19 October 2008 the company has already started to implement the job cuts. The company is reducing its headcount in an attempt to reduce costs as a result of the falling value of its assets.

Sources

  • 13 October 2008: Financial Times

Citation

Eurofound (2008), Fidelity International, Internal restructuring in United Kingdom, factsheet number 67248, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/67248.